2005 Nevada Revised Statutes - Chapter 123A — Premarital Agreements (Uniform Act)

CHAPTER 123A - PREMARITAL AGREEMENTS(UNIFORM ACT)

NRS 123A.010 Shorttitle.

NRS 123A.020 Applicationand construction.

NRS 123A.030 Definitions.

NRS 123A.040 Formalities.

NRS 123A.050 Content.

NRS 123A.060 Effectof marriage.

NRS 123A.070 Amendmentand revocation.

NRS 123A.080 Enforcement:Generally.

NRS 123A.090 Enforcement:Void marriage.

NRS 123A.100 Limitationof actions.

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NRS 123A.010 Shorttitle. This chapter may be cited as theUniform Premarital Agreement Act.

(Added to NRS by 1989, 1003)

NRS 123A.020 Applicationand construction. This chapter shall beapplied and construed to effectuate its general purpose to make uniform the lawwith respect to the subject of this chapter among states enacting.

(Added to NRS by 1989, 1003)

NRS 123A.030 Definitions. As used in this chapter, unless the context otherwiserequires:

1. Premarital agreement means an agreement betweenprospective spouses made in contemplation of marriage and to be effective uponmarriage.

2. Property means an interest, present or future,legal or equitable, vested or contingent, in real or personal property,including income and earnings.

(Added to NRS by 1989, 1003)

NRS 123A.040 Formalities. A premarital agreement must be in writing and signed byboth parties. It is enforceable without consideration.

(Added to NRS by 1989, 1003)

NRS 123A.050 Content.

1. Parties to a premarital agreement may contract withrespect to:

(a) The rights and obligations of each of the partiesin any of the property of either or both of them whenever and wherever acquiredor located;

(b) The right to buy, sell, use, transfer, exchange,abandon, lease, consume, expend, assign, create a security interest in,mortgage, encumber, dispose of, or otherwise manage and control property;

(c) The disposition of property upon separation,marital dissolution, death, or the occurrence or nonoccurrence of any otherevent;

(d) The modification or elimination of alimony orsupport or maintenance of a spouse;

(e) The making of a will, trust or other arrangement tocarry out the provisions of the agreement;

(f) The ownership rights in and disposition of thedeath benefit from a life insurance policy;

(g) The choice of law governing the construction of theagreement; and

(h) Any other matter, including their personal rightsand obligations, not in violation of public policy or a statute imposing acriminal penalty.

2. The right of a child to support may not beadversely affected by a premarital agreement.

(Added to NRS by 1989, 1003)

NRS 123A.060 Effectof marriage. A premarital agreement becomeseffective upon marriage.

(Added to NRS by 1989, 1004)

NRS 123A.070 Amendmentand revocation. After marriage, a premaritalagreement may be amended or revoked only by a written agreement signed by theparties. The amended agreement or the revocation is enforceable without consideration.

(Added to NRS by 1989, 1004)

NRS 123A.080 Enforcement:Generally.

1. A premarital agreement is not enforceable if theparty against whom enforcement is sought proves that:

(a) That party did not execute the agreementvoluntarily;

(b) The agreement was unconscionable when it wasexecuted; or

(c) Before execution of the agreement, that party:

(1) Was not provided a fair and reasonabledisclosure of the property or financial obligations of the other party;

(2) Did not voluntarily and expressly waive, inwriting, any right to disclosure of the property or financial obligations ofthe other party beyond the disclosure provided; and

(3) Did not have, or reasonably could not havehad, an adequate knowledge of the property or financial obligations of theother party.

2. If a provision of a premarital agreement modifiesor eliminates alimony or support or maintenance of a spouse, and thatmodification or elimination causes one party to the agreement to be eligiblefor support under a program of public assistance at the time of separation ormarital dissolution, a court, notwithstanding the terms of the agreement, mayrequire the other party to provide support to the extent necessary to avoidthat eligibility.

3. An issue of unconscionability of a premaritalagreement shall be decided by the court as a matter of law.

(Added to NRS by 1989, 1004)

NRS 123A.090 Enforcement:Void marriage. If a marriage is determined tobe void, an agreement that would otherwise have been a premarital agreement isenforceable only to the extent necessary to avoid an inequitable result.

(Added to NRS by 1989, 1004)

NRS 123A.100 Limitationof actions. Any statute of limitationsapplicable to an action asserting a claim for relief under a premaritalagreement is tolled during the marriage of the parties to the agreement.However, equitable defenses limiting the time for enforcement, including lachesand estoppel, are available to either party.

(Added to NRS by 1989, 1004)