Legal nuances of making up a marriage contract.
Only marriage contracts can change the lawful ownership of spouses` property. As is known is a marriage contract is missing, property purchase by spouses in a marriage is their joint property and belongs to each in equal parts. However, spouses can come to agreement in respect to property belonging to them, on any terms not contradicting the current legislation. A marriage contract can be concluded both in respect to all property and any part thereof. A contract determines to whom spouses` property will belong in case the marriage is annulled, and can be concluded both in respect to the property already owned and future property. A marriage contract is reliable protection of spouses and their property in case of marriage annulment and in case of each other’s unfair acts. However, unlike marriage contracts of other countries, it cannot regulate non-property aspects of spouses` joint life. Mutual obligations, rights and obligations in respect to under-aged children and many other issues are still beyond the scope of a marriage contract.
Rights and obligations stipulated by a marriage contract can be limited in time or depend on certain condition. A contract can be changed, concluded or terminated at any moment of the marriage provided both parties agree. A marriage contract can be concluded at any moment of the marriage and even before state registration of the marriage. In the latter case it will become effective only upon marriage registration. We should not forget that joint living of unmarried persons does not generate any rights and obligations of spouses, and in respect to property belonging to them a regime of separate ownership is effective. In such case what matters is in whose name property is purchased and in which shares.