What is considered joint property in prenuptial/postnuptial agreements? Kiritsis Law 212 922 0005
The segregation of joint from separate property ownership, is often key in drafting legally valid prenuptial and postnuptial agreements.
Understanding the concept of marital property.Marital property is generally construed as a term of legal art within the world of marital contracts. Marital property is at its essence the accumulation of marital assets incurred after the wedding ceremony and during the course of marriage (broad overgeneralization -- subject to many exceptions).
Types of joint ownership.One way a marital couple can own a property through joint ownership is via what is referred as joint tenancy -- this is basically, a property ownership structure, into which each spouse owns the property in joint ownership with the right of survivorship. A second way to own property jointly is by a tenancy in common -- upon spouse's death, property passes to the dead spouse's beneficiary(ies).