Marital Agreement Law and Legal Definition
A marital agreement refers to any agreement between spouses involving division and ownership of marital property. A marital agreement is relevant prior to the filing of an action for dissolution of marriage or for legal separation. It is enforceable, unless it was executed involuntarily or there was not a fair and reasonable disclosure of the property or financial obligations involved.[In re Marriage of Bisque, 31 P.3d 175 (Colo. Ct. App. 2001)].
A marital agreement is different from prenuptial agreement. An agreement entered between prospective spouses before marriage is known as prenuptial agreement. Generally, a marital agreement involves fiduciary relationship between spouses created out of marriage. Some examples of marital agreements are:
1.Transmutation agreement;
2.Immediate separation agreement;
3.Marital settlement agreement.
