Sec. 5. (a) Parties to a premarital agreement may contract with each other regarding the following matters:

(1) The rights and obligations of each of the parties in any property of either or both of them whenever and wherever acquired or located.

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Terms Used In Indiana Code 31-11-3-5

  • Contract: A legal written agreement that becomes binding when signed.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • premarital agreement: means an agreement between prospective spouses that:

    Indiana Code 31-11-3-2

  • property: means an interest, present or future, legal or equitable, vested or contingent, in real and personal property, including income and earnings. See Indiana Code 31-11-3-3
  • Statute: A law passed by a legislature.
(2) The right to:

(A) buy;

(B) sell;

(C) use;

(D) exchange;

(E) abandon;

(F) lease;

(G) consume;

(H) expend;

(I) assign;

(J) create a security interest in;

(K) mortgage;

(L) encumber;

(M) dispose of; or

(N) otherwise manage and control;

property.

(3) The disposition of property upon:

(A) legal separation;

(B) dissolution of marriage;

(C) death; or

(D) the occurrence or nonoccurrence of any other event.

(4) The modification or elimination of spousal maintenance.

(5) The making of:

(A) a will;

(B) a trust; or

(C) other arrangement;

to carry out the provisions of the agreement.

(6) The ownership rights in and disposition of a death benefit from a life insurance policy.

(7) The choice of law governing the construction of the agreement.

(8) Any other matter not in violation of public policy or a statute imposing a criminal penalty, including the personal rights and obligations of the parties.

     (b) A premarital agreement may not adversely affect the right of a child to support.

[Pre-1997 Recodification Citation: 31-7-2.5-5.]

As added by P.L.1-1997, SEC.3.