Fillable Printable Postnuptial Agreement - North Carolina

Postnuptial Agreement - North Carolina

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STATE OF NORTH CAROLINA )

)

COUNTY OF MECKLENBURG)

POSTNUPTIAL AGREEMENT

THIS POSTNUPTIAL AGREEMENT (“Agreement”), is made this

day of

, 20, between *MAN*, aresident anddomiciliaryof MecklenburgCounty,

North Carolina, hereinafter “Husband,”and *WOMAN*, a resident anddomiciliaryof

Mecklenburg County, North Carolina, hereinafter “Wife”;

WHEREAS,the parties weremarried on *DATE*. Therearenochildrenborn to the

marriage at the present time; and

WHEREAS,theparties are livingtogether harmoniously and anticipate continuing to

do so, but nonethelessdesire toprovidefor the disposition of allassetsand allliabilities in

the event ofseparation and/or divorce; and

NOW, THEREFORE, in consideration of the premises, and the mutual promises and

undertakings herein contained, and for othergood and valuableconsideration, the parties

agree as follows:

1. Disclosureof Financial Information; VoluntaryExecution. Annexed hereto,

marked Exhibit A and made a part ofthis Agreement,is anet worth statement ofeach

party. Theparties agree that the valuations contained in the net worthstatements are

accurateand acceptabletothem. Insigning thisAgreement,each partyha s reliedupon

the net worthstatement oftheother as a fulland accurate disclosureof the party’s property

interests.

Without limiting the foregoing, the parties further expressly stipulate,acknowledge

and agree (i) that this agreement is executed voluntarily,and (ii)that this agreement was

not unconscionablewhe nitwas executed. Each party specifically waives the right toany

further disclosure of financial information ofany kind fromthe other party.

2. Separate Property. Eachparty agrees that the propertydescribed

hereafter shallremain the separatepropertyof theother party inthe event ofa separation

and/or divorce, unlessotherwise agreedbythem as specificallyset forthhereinafter,and

shallnot be subject toany claims and rightsofone partyagainstthe other for equitable

distribution under North Carolina General Statutes § 50-20 et seq., as the same may be

amended from time to time:

A) All property, whether real or personal,or of any type whatsoe ver,

presently held bythe other partyin his/her separate name;and

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B) All property, whether real or personal,or of any type whatsoe ver,

acquired at any time inthe futureby the other party inhis/her

separate name;and

C)All property acquired at any time inthefuturebytheother party by

gift,devise, bequest or inheritance; and

D)All interest, dividends, rents,profits or other income at any time

acquired from the aforestated separateproperty, or at any time

acquired frompropertypurchased withseparate property, or any

property substituted or exchanged for separate property; and

E) All active and passive appreciation invalue of theaforestated

separate property, whe ther attributabletomarket conditions or tothe

skills and eff orts of the owner thereofor of either party; and

F)Any recoveryor claimfor painandsuffering arising from a personal

injury suffered by the other party; and

Eachparty has the soleand exclusive right at alltimes to manage and control his

or her respective separate propertythe same as ifeach were unmarried. Thisright to

manage and control includes the right todispose of any or allofthat party’sseparate

propertyby deed,willor otherwise on that party’ssolesignature, without any involvement

or control by the other party, and theother pa rty hereby ratifies and consentsto any such

disposition. Ifthe laws ofa state, or a third party, requires therelease of thespouse’s

rightsor interests, theother party agrees toexecutewhatever documents arenecessary to

give suchreleaseinthe other’sseparateproperty. Each party acknowledges that the right

of the other partyto retain, manageand control such separate propertyas granted above

continues perpetuallyunless thisAgreement isrevokedas set forth in Paragraph 14 below.

Eachparty specifically waives, relinquishes, renounces and gives up any claim that each

partyotherwise ma y havehad or have made tothe other’sseparateproperty under the

laws ofthis state.

3. Real EstateAcquired in the Future. The parties agree that they mayin the

futurepurchase real estatewhich will betitled inthenames of bothpartiesineither a

tenancy by the entiretyor som eother formof joint ownership. Said real estateshall be

Wife’sseparate property(despite being titled ina formof joint ownership) in the event of a

separation and/or divorce of the parties and the rightsand obligations ofthe parties

regarding saidreal estate shall be governed by th e provisions ofparagraph 2 above.

4. Residence and *BUSINESS* Assets. The partiesreside in a house

and lot located at *ADDRESS*, Charlotte, North Carolina. Theparties agreethat said real

estate shallbe Husband/Wife’sseparate prope rty inthe event ofa futureseparation

separate property of the other,nor shall such a payment bya

and/or divorce ofthe parties and the rightsandobligations of the parties regarding saidreal

estate shall be governed bythe provisions ofparagraph 2above.

Additionally, Husband/Wifehas an ownershipinterest in a corporation knownas the

*BUSINESS*. The parties agree that saidownershipinterest andallrightsassociated with

saidownership inte rest shallbe Husband/Wife’sseparateproperty inthe event ofa future

separation and/or divorce ofthe parties and the rightsand obligations ofthe parties

regarding saidownership interest shallbe governed bythe provisions of paragraph 2

above.

5. Joint Pe rsonal Property.Theparties agree thatany persona l property,

which shallnow or hereafter be heldinthe joint names of the parties shallnot be

consideredseparate propertyintheevent ofseparation and/or divorce of the parties,but

shallbe deemed tobe owned jointly by the parties and shall be divided equallybetween

the parties ifthey become separated or divorced inthe future. Provided, however,that

the provisions ofthe foregoing sentence donotapply to any parcels ofreal estateheldin

joint names of the parties inany form of joint ownership. Saidreal estate shallbe Wife’s

separate property pursuant toparagraph 3 above.

6. Payments ofDebtsand Liabilities.

A) Eachparty shallbear legal responsibilities for the following liabilities,

withou t anyobligation or liability on the partof the other therefore,

except as hereinafter provided:

i)All of his/her own debtsand other obligations, secured or

unsecured, existing at the time ofthe execution of this

agreement;and

ii)All debtsin his/her name acquired inthe future.

iii)All debts,obligations, taxes, assessmentsand expenses at

any timeincurred, arising, existing or relating tothe acquisition,

holding, disposition,operation, management or administration

ofhis/her own separate property.

iv) Notwithstandingany other provisionofthis section, either party

may voluntarily contribute towardthe payment of the separate

liabilities ofthe other. However,voluntarypayment shallnot

constitutean assumptionof the saidliabilities bythe

contributing party, no r shall suchpayment constitutean

admission of liabilitythereforeby the contributing party, nor

shallsuch paymentgive the contributing party an interest in the

contemporaneous conversations, negotiations, possible andalleged agreementsand

partyononeor moreoccasions be deemed a waiver or an

implied amendment of th is Section.

B) All debtsinthejoint names ofthe parties shallbepaidequally by the

parties.

7. Fair and Equitable.Eachof the Parties deems the aforesaiddistribution of

“joint property”and“separate property”to be fairand equitableinthe event of the parties’

separation and/or divorce.

8. NecessaryDocuments; Indemnification. If either partydesiresto encumber,

sell, or otherwise transfer or exercise a right of ownership in his or her separate property,

the other partyshalljoin, as necessary,inthedeed ofconveyance, deedoftrust, mortgage

or similar document neededtomake the transfer or encumbranceor other act legally

eff ective or toexpedite the transaction. However,thepartyrequesting the joinder shall

holdthe other partywho joined inthe deed, deed of trust, mortgage or other document

harmless from any liability or expense ofanykindand naturewhich mayresultfrom the

execution ofsuch deed,deedof trust, mortgage or other document. Furthermore, the

partyrequesting thejoinder shall, upon the request of the other party, execute an indemnity

agreementor some other appropriateinstrument toprotect the other party under the

circumstances.

9. Independent Counsel.Each of the parties understands and recognizesthat

he or she has the fulland complete right toretainhisor her ownattorneys, accountantsor

other advisors (hereinafter together called “attorneys”) and todiscuss any and allofthe

provisionsofthisAgreement or anyother matter inanyway relate dtothisAgreement with

his or her attorneys.The parties acknowledge (I) that Wife is represented by

ofCharlotte, North Carolina; (ii)that Husbandisrepresented by

ofCharlotte, North Carolina; (iii)that bothparties

havebeenduly appraised of theirrespective legal rights, including theirrightstoequitable

distribution, and (iv) that all oftheprovisions hereofas well as all questions pertinent

hereto have been fullyand satisfactorilyexplained to them.

10. ApplicableLaw.ThisAgreement shallbe governed byandinterpreted and

construedinaccordance with the law ofthe Stateof NorthCarolina. In addition, the parties

hereto expressly unde rstand and agree that the provisions inthis agreementshall be

applicableat alltimes eventhough the parties mayresideina jurisdiction other thanNorth

Carolina inthe future.

11. Entire Agreement. This Agreement represents theentire agreement of

the partieswith regardtothe subject matter hereof. Noother agreements, covenants,

representations or warranties, express or implied, oral or written, have been made by either

partytothe other with respect tothe subject matter of thisAgreement. All prior and

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representations, covenantsand warranties with respecttothe subject matter hereof are

waived,merged herein and supersededhereby.

12. Execution and Effectiveness. To clarify certain aspects ofthis

Agreement’s execution and eff ectiveness, theparties agree as follows:

A) ThisAgreement shallbebinding uponand enuretothe benefitofthe

parties and their respectiveheirs, executors, personal

representatives, successors and assigns.

B) Eachof the parties acknowledges that thisAgreement isvoluntarily

executed with fullknowledge and information, andthat no coercion or

undue influencehas been used by or against either party, by the other

party or by any third parties in making this Agreement.

C)Noprovision ofthisAgreement shallbeinterpretedfor or against any

partybecause that party or that party’slegal representativedrafted

this Agreement or drafted anyparticular provision hereof.

D)Inthe event any ofthe provisions of thisAgreement are deemed to be

invalid or unenforceable, the same shall be severed from the

remainder of thisAgreement and shallnot causeinvalidity or

unenforceability ofthe remainder of thisAgreement.Ifsuchprovision

shallbe deemed invalid due toits scopeor breadth, such provision

shallbe deemed valid tothe extent ofthe scopeor breadthpermitted

by law.

E) Eachparty shall, upon the request ofthe otheror the other’spersonal

representative, execute, acknowledge and deliver any instruments

appropriateor necessarytoeff ectuate the intentand provisions of this

Agreement.

F)Neither partyhas any reason to believe that the otherdidnot

understandfullythe terms and eff ects of the Agreement or thatthe

other didnot freely and voluntarily executethe Agreement.

13. Waiver of Equit ableDistribution. Pursuant toNorth Carolina G.S. §52B-4(3),

each ofthe parties hereby specifically waiveany claims or rightsofequitable distribution of

marital and/or divisibleproperty arising out of NorthCarolina G.S.§50-20, et.seq., or

otherwise,now and hereafter by law provided.

14. Revocation and/or Amendment. Only an express agreement inwriting

making clear and specificreferencetothisagreement,signed and notarized by both

parties according to law, shallhavethe effect ofrevoking or amending this agreement.

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15. Waiver. The failureofany ofthe parties tothisAgreement to insist upon

strict performance ofany of the provisions ofthisAgreement shallnot be construed as a

waiver ofany subsequent defaultofthe same or similar nature; nor shall it affect the party’s

rightsto claim strict performance of any other portion ofthis Agreement.

16. Specific Performance. Either party shallhave the right tocompel the

performance ofthe provisions ofthisAgreement by suing for specificperformance in the

courts wherejurisdictionoftheparties and subject matterexists.Both parties acknowledge

that neither party has aplain, speed y or adequatelegal remedy tocompel compliance with

the provisions ofthisAgreement,thatneither partyshould be requir ed to repeatedlyfilesuit

for any breach ofthisAgreement,thatthisAgreement isfairand equitableto bothparties,

and that an order of specificperformanceenforceablebycontempt isan appropriate

remedy for abreachby either party. However,nothing hereinshallprevent an injured party

from recovering allmonetarydamages towhich he or she maybeentitled upon a showing

that the other party has breached the provisions ofthis Agreement.

17. Attorney Fees. Ifeither partybreache s any of theterms of this Agreement,

the breaching partyshall be required topa y reasonableattorney fees for theparty whose

rights were violated as a result of said breach.

INWITNESS WHEREOF,theParties have set their hands and sealstothis

Agreement,inmultiple originals, one of which isbeing retained by each of the Parties and

each of which shallbedeemedan original hereof, allas of the day and year first above

written.

(SEAL)

“MAN”

(SEAL)

“WOMAN”

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STATE OF NORTH CAROLINA

COUNTYOF MECKLENBURG

I, , a NotaryPublic for said Countyand State, do hereby

certify that“MAN”personallyappeared beforeme thisday andacknowledged the due

execution ofthe foregoing instrument for the purposes therein intended.

20.

WITNESS my hand and notarial seal this, the day of ,

NOTARY PUBLIC

My Commission Expires On :

STATE OF NORTH CAROLINA

COUNTYOF MECKLENBURG

I, , a Notary Public for said Countyand State, do hereby

certify that “WOMAN”personally appeared beforeme thisday and acknowledged the due

execution ofthe foregoing instrument for the purposes therein intended.

20.

WITNESS my hand and notarial seal this, the day of ,

NOTARY PUBLIC

My Commission Expires On :

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EXHIBIT