This is about the prenuptial agreement in Thailand. The severance of the marital bond among spouses necessarily results to the eventual inventory and distribution of their respective properties prior and during the marriage duration. This is why prenuptial agreements in Thailand serve as a tool in assigning a particular property without having conflicts with associating ownership and management.
Prenuptial Agreement in Thailand
Advantages of having a Thailand Prenuptial Agreement:
- Entering into a prenuptial agreement in Thailand creates assurance to the ownership and management of the properties of both spouses. The said agreement itself serves as proof of ownership of the properties listed as the claiming parties signed the same. In case of dissolution of the marriage, the parties may then refer to the agreement for proprietary guidance.
- A prenuptial agreement in Thailand may also serve as a quitclaim. Wherein one of the spouses pulls out his or her material investment or interest over a particular property. This may prove to be useful when it comes to cases where real property is involved. This to be able to prevent possible legal complications.
- As a result of the eased facilitation concerning the division and distribution or the property could be made, the expenses during such process are much lower than the normal costs, and takes lesser time and money to come up to a conclusion.
- The inclusion of an inventory of all properties in the agreement serves as security against excessive debt incurred by either of the spouses.This as the ownership of each of the properties are specific. Under Thai law, personal property is answerable for debts only by debts that were incurred by both spouses. Jointly. In cases where only one spouse has acquired a personal debt. Then a prenuptial agreement effectively blocks the creditor from resorting to a property owned by the other spouse.
- The effects of Thailand’s prenuptial agreement go beyond both the marriage and its dissolution. This as it also functions as a tool for planning estate. When you separate a particular property from the community. The owner is ensured that the ownership over the same property would revert back to its original estate.