Prenuptial agreements, commonly known as prenups, are gaining attention in Nepal, especially among those who wish to establish clear financial terms before marriage. Here’s what you need to know:
- Legal Recognition: Prenuptial agreements are recognized under Section 102 of the National Civil (Code) Act, 2017 (2074). They allow couples to decide on the division of property and alimony in case of divorce.
- Objective: The main goal is to provide certainty and clarity regarding marital rights and the division of property if the marriage ends.
- Flexibility: It’s not mandatory for the agreement to be prenuptial; it can also be a postnuptial agreement, which is similar but entered into after marriage.
- Limitations: The agreement applies only in the event of divorce and not in cases of death or insolvency of a spouse.
- Enforceability: For the agreement to be enforceable, it must be written and should not be against the interest of a minor or contain conditions that are unfair or against the law.
Whether a prenuptial agreement is right for you depends on your individual circumstances, such as your assets, your partner’s assets, and your views on financial planning and security. It’s crucial to have an open discussion with your partner and seek legal advice to ensure that any agreement is fair, legally sound, and reflects both parties’ interests.
If you’re considering a prenuptial agreement in Nepal, it’s advisable to consult with our legal experts who specializes in family law to guide you through the process and ensure that your rights and interests are protected.
