Prenuptial agreement

Prenuptial agreement (부부재산계약/夫婦財産契約) is an agreement made prior to marriage regarding the property owned by each spouse. Article 829 of the Civil Act stipulates the requirements for a valid prenuptial agreement.

Some jurisdictions allow spouses to decide the ownership and distribution of their properies on a contractual basis. The prenuptial agreement, or marital agreement on property, is rarely used in Korea.

Marital property (법정재산제/法定財産制) is a supplementary rule under the Korean family law that decides the ownership and distribution of the property between spouses during and after marriage.

Key words
marriage, spouse, prenuptial agreement, property, coownership

Requirements
An effective prenuptial agreement should be made:
 * prior to marriage;
 * in any form - either written or oral;
 * requiring the spouses to have legal capacity to marry.

Effect
A prenuptial agreement is effective upon marriage and becomes null upon divorce or annulment of marriage. A prenuptial agreement may only stipulate the ownership of property during marriage not before or after the marriage.