Concluding a Marital Property Agreement in Estonia
A marital property agreement (prenuptial agreement) is a legal instrument that allows spouses to define their property relations, deviating from the statutory regime. In Estonia, this is governed by the Family Law Act (PKS).
Property Regimes
Under the PKS, spouses may choose between three main regimes:
- Joint Property: Assets acquired during marriage are shared.
- Accrual of Assets: The most common choice, where assets acquired during marriage are separate, but the increase in value is balanced upon termination of the marriage.
- Separation of Assets: All assets remain the separate property of each spouse.
The Notarization Requirement
Pursuant to PKS § 60 (2), a marital property agreement must be notarially authenticated. This is a mandatory formal requirement; a private written agreement is legally void. The notary acts as an impartial advisor, ensuring that both parties understand the legal consequences of their choices.
Steps to conclude the agreement:
- Preparation: Discuss your financial goals and expectations with your partner.
- Notary Appointment: Select a notary to draft the agreement based on your specific needs.
- Authentication: Both spouses must appear in person at the notary office to sign the document.
- Registration: While the agreement is valid between spouses upon signing, it is only enforceable against third parties (such as creditors) once entered into the Marital Property Register.
Why conclude an agreement?
Such an agreement provides legal certainty, protects spouses from each other's liabilities, and simplifies the division of assets in the event of divorce or death. It is highly recommended for business owners or individuals with significant pre-existing assets.
Are you considering a marital property agreement? Our legal experts are here to provide clarity. Contact Õigusabi 24 today for a personalized analysis of your situation and ensure your assets are protected according to Estonian law.