CS/HB 577

1	A bill to be entitled
2	An act relating to premarital agreements; creating s.
3	61.079, F.S.; providing a short title; providing
4	application; defining the terms "premarital agreement" and
5	"property"; requiring that a premarital agreement be in
6	writing and signed by both parties; providing that the
7	agreement is enforceable without consideration;
8	authorizing the parties to a premarital agreement to
9	contract with respect to certain specified issues;
10	providing that an agreement becomes effective upon
11	marriage; providing for amendments to, revocation, and
12	abandonment of an agreement; providing for enforcement of
13	an agreement; providing for application of the act;
14	providing for severability; providing an effective date.
15
16	Be It Enacted by the Legislature of the State of Florida:
17
18	Section 1.  Section 61.079, Florida Statutes, is created to
19	read:
20	61.079  Premarital agreements.--
21	(1)  SHORT TITLE.--This section may be cited as the
22	"Uniform Premarital Agreement Act" and this section applies only
23	to proceedings under the Florida Family Law Rules of Procedure.
24	(2)  DEFINITIONS.--As used in this section, the term:
25	(a)  "Premarital agreement" means an agreement between
26	prospective spouses made in contemplation of marriage and to be
27	effective upon marriage.
28	(b)  "Property" includes, but is not limited to, an
29	interest, present or future, legal or equitable, vested or
30	contingent, in real or personal property, tangible or
31	intangible, including income and earnings, both active and
32	passive.
33	(3)  FORMALITIES.--A premarital agreement must be in
34	writing and signed by both parties. It is enforceable without
35	consideration other than the marriage itself.
36	(4)  CONTENT.--
37	(a)  Parties to a premarital agreement may contract with
38	respect to:
39	1.  The rights and obligations of each of the parties in
40	any of the property of either or both of them whenever and
41	wherever acquired or located;
42	2.  The right to buy, sell, use, transfer, exchange,
43	abandon, lease, consume, expend, assign, create a security
44	interest in, mortgage, encumber, dispose of, or otherwise manage
45	and control property;
46	3.  The disposition of property upon separation, marital
47	dissolution, death, or the occurrence or nonoccurrence of any
48	other event;
49	4.  The establishment, modification, waiver, or elimination
50	of spousal support;
51	5.  The making of a will, trust, or other arrangement to
52	carry out the provisions of the agreement;
53	6.  The ownership rights in and disposition of the death
54	benefit from a life insurance policy;
55	7.  The choice of law governing the construction of the
56	agreement; and
57	8.  Any other matter, including their personal rights and
58	obligations, not in violation of either the public policy of
59	this state or a law imposing a criminal penalty.
60	(b)  The right of a child to support may not be adversely
61	affected by a premarital agreement.
62	(5)  EFFECT OF MARRIAGE.--A premarital agreement becomes
63	effective upon marriage of the parties.
64	(6)  AMENDMENT, REVOCATION, OR ABANDONMENT.--After
65	marriage, a premarital agreement may be amended, revoked, or
66	abandoned only by a written agreement signed by the parties. The
67	amended agreement, revocation, or abandonment is enforceable
68	without consideration.
69	(7)  ENFORCEMENT.--
70	(a)  A premarital agreement is not enforceable in an action
71	proceeding under the Florida Family Law Rules of Procedure if
72	the party against whom enforcement is sought proves that:
73	1.  The party did not execute the agreement voluntarily;
74	2.  The agreement was the product of fraud, duress,
75	coercion, or overreaching; or
76	3.  The agreement was unconscionable when it was executed
77	and, before execution of the agreement, that party:
78	a.  Was not provided a fair and reasonable disclosure of
79	the property or financial obligations of the other party;
80	b.  Did not voluntarily and expressly waive, in writing,
81	any right to disclosure of the property or financial obligations
82	of the other party beyond the disclosure provided; and
83	c.  Did not have, or reasonably could not have had, an
84	adequate knowledge of the property or financial obligations of
85	the other party.
86	(b)  If a provision of a premarital agreement modifies or
87	eliminates spousal support and that modification or elimination
88	causes one party to the agreement to be eligible for support
89	under a program of public assistance at the time of separation
90	or marital dissolution, a court, notwithstanding the terms of
91	the agreement, may require the other party to provide support to
92	the extent necessary to avoid that eligibility.
93	(c)  An issue of unconscionability of a premarital
94	agreement shall be decided by the court as a matter of law.
95	(8)  ENFORCEMENT; VOID MARRIAGE.--If a marriage is
96	determined to be void, an agreement that would otherwise have
97	been a premarital agreement is enforceable only to the extent
98	necessary to avoid an inequitable result.
99	(9)  LIMITATION OF ACTIONS.--Any statute of limitations
100	applicable to an action asserting a claim for relief under a
101	premarital agreement is tolled during the marriage of the
102	parties to the agreement. However, equitable defenses limiting
103	the time for enforcement, including laches and estoppel, are
104	available to either party.
105	(10)  APPLICATION TO PROBATE CODE.--This section does not
106	alter the construction, interpretation, or required formalities
107	of, or the rights or obligations under, agreements between
108	spouses under s. 732.701 or s. 732.702.
109	Section 2.  If any provision of this act or its application
110	to any person or circumstance is held invalid, the invalidity
111	does not affect other provisions or applications of this act
112	which can be given effect without the invalid provision or
113	application, and to this end the provisions of this act are
114	severable.
115	Section 3.  This act shall take effect October 1, 2007, and
116	applies to any premarital agreement executed on or after that
117	date.

CODING: Words stricken are deletions; words underlined are additions.