Question

An agreement two parties enter into before marriage that clearly states the ownership rights each party enjoys in the other party's property is known as a(n) _____.

Answer 1

Answer:

prenuptial agreement

Explanation:

A prenuptial agreement or prenuo is one that is created between two people before marriage. A prenuo lists all the properties owned by each individual and action to be taken as regards ownership after the marriage.

Prenuptial agreement has been used by parties that are wealthy in marriages to protect their wealth from spouses that may take advantage of them and obtain their wealth after a divorce. For example a person may say his spouse is not entitled to ownership of his property after marriage.

Answer 2

Answer:

A prenuptial agreement

Explanation:

A prenuptial agreement (prenup) is signed between two people that wish to get married but also wish to establish property rights in order to protect their personal assets.

It is not only used by wealthy men that wish to protect their riches from gold digging wives. It can be used by working couples that include man/woman, man/man or woman/woman relationships. And many times it is also used by wealthy women who wish to protect their riches from gold digging husbands. In western countries women and men are equal.

A prenup not only protects accumulated funds, but it also can include how retirement or education funds will be distributed, and the interests of children from previous relationships.