A marital property partition agreement—also known as a partition and exchange agreement, a postmarital agreement, or a postnuptial agreement—is an agreement between spouses during marriage to convert marital property (also known as community property in some states) to one spouse’s separate property.
Property that is jointly owned by spouses or domestic partners (often owned as joint tenants with a right of survivorship) may also be partitioned or divided in a lawsuit or court action rather than by agreement of the spouses.
Laws regarding marital property partition agreements vary from state to state and are generally located in a state’s statutes—often in the family code or domestic relations code.
In Alabama, marital property is not recognized as community property since Alabama is an equitable distribution state, not a community property state. This means that during a divorce, marital property is divided equitably, but not necessarily equally, based on various factors. A marital property partition agreement, known in Alabama as a postnuptial agreement, allows spouses to agree on the division of their property during the marriage. Such agreements can be used to convert marital property into the separate property of one spouse. For a postnuptial agreement to be valid in Alabama, it must be in writing, entered into voluntarily, and both parties must provide full disclosure of their assets. It should also be executed with the formalities required for a contract to ensure it is enforceable. If spouses cannot agree on the division of property, a court may partition the property in a lawsuit. The court will consider factors such as the length of the marriage, the contributions to the marriage by each spouse, the economic circumstances of the parties, and any fault in the breakdown of the marriage. It's important to consult with an attorney to understand the specific requirements and implications of entering into a postnuptial agreement in Alabama.