Signing Requirements
(§ 20-149) – Both parties must sign; notary acknowledgment is recommended but legally required.
Laws
Uniform Premarital Agreement Act (UPAA) – This act helps regulate premarital and marital agreements. It has been adopted by 28 states including Virginia.
- § 20-147 – Application
- § 20-148 – Definitions
- § 20-149 – Formalities of premarital agreement
- § 20-150 – Content of agreement
- § 20-151 – Enforcement; void marriage
- § 20-152 – Limitation of Actions
- § 20-153 – Amendment or revocation of agreement
- § 20-154 – Prior agreements
- § 20-155 – Marital agreements
Equitable Distribution
Laws – § 20-107.3
Like most other states, Virginia is not a “community property” state but an “equitable distribution” state. This means that if a premarital agreement was not executed and the divorcing couple cannot agree on the division of property, the courts will step in and attempt to divide the properly fairly between the two. “Equitable” does not mean an equal 50/50 split but a fair division based on a number of factors, such as income/liabilities, previous marriages, and length of marriage.