Fill and Sign the Municipal Government in Mississippi Sixth Edition Mississippi State Form

- 1 - POSTNUPTIAL AGREEMENT READ BEFORE SIGNING: IMPORTANT NOTICE: EACH PARTY TO THIS AGREEMENT AGREES THAT THEY HAVE HAD AN OPPORTUNITY TO CONSULT WITH AN ATTORNEY OF THEIR CHOICE LICENSED TO PRACTICE LAW IN THEIR STATE OF RESIDENCE (NOT THE SAME ATTORNEY) AND THAT THEY HAVE FULLY READ, UNDERSTAND AND AGREE TO THE TERMS OF THIS AGREEMENT. EACH PARTY FURTHER AGREES THAT THEY ARE NOT ACTING UNDER DURESS OR UNDUE INFLUENCE IN EXECUTING THIS AGREEMENT AND THAT EXECUTION OF SAME IS DONE FREELY AND VOLUNTARILY. THIS AGREEMENT, made this ____ day of ________________, 2_ ___, between ___________________________ (Name), of ______________________________ (Address), _____________ (State) ("first party or Wife"), and _____________________ (Name), of ____________________________ (Address), _____________ (State) ("second party or Husband"), W I T N E S S E T H WHEREAS, Wife and Husband are now married, having been married on the _ day of _______ , 2 , in _______ County, _________ ; WHEREAS, the parties now desire to enter into this agreement to clarify and establish their respective and collective rights, titles and interests in the separate and joint property of the parties, in the event of divorce, death or other circumstances that would serve to terminate their marriage, but without the present intent of either party to obtain a divorce or a legal separation; and WHEREAS, by execution of this agreement, the parties warrant and represent that they have fully disclosed their financial status, including all assets, liabilities, and income, as listed in the financial statement disclosures, attached as Exhibits A and B; and WHEREAS, the parties agree that this agreement is to be effective upon execution in accordance with the applicable laws of the State of North Carolina; and NOW, THEREFORE, in consideration of the mutual promises, covenants, warranties and other benefits and advantages accruing to each party, the parties agree as set forth above and below as follows: SECTION 1 SEPARATE PROPERTY Each of the parties shall retain full control of his or her own separate property, real, personal and mixed owned at the time of execution of this agreement and described in Exhibits A and B, wherever the property is located. By the terms of this agreement, each party hereby waives and relinquishes all claim to the separate property of th
Is parties, including any interest therein held under the uniform marital property act, and no provision or limitation of this agreement shall be construed to limit or otherwise affect the exercise of the right of either party to terminate his or her rights under that act by a valid reason. Each party shall at all times pay to the other party all taxes on such separate property as may be due at law and any taxes due by any other party or the North Carolina state as a result of a court order or other governmental action. Each party will pay a reasonable amount for the reasonable cost of obtaining an appraisal of and collecting any real property taxes due upon such property. Such cost shall be paid as of the date such separate property is sold or transferred. If this property is acquired for less than one year at a time before the close of the year of execution, there is a grace period of two years for payment of taxes. Such tax is payable in advance. Each party shall pay to the other party, or to the North Carolina state, all penalties, interest and expenses to that extent incurred by or on behalf of his or her spouse pursuant to a valid statute of limitations on any claim of the spouse and the parties shall notify each other prior to the execution of this agreement of any such claim, if so stated. Each party agrees that, if a person is adjudicated a bankrupt, the judgment of the bankruptcy court against the person shall be binding upon the parties upon the payment of all judgments and liens, including interest and costs in a sum equal to three times the amount of money so adjudged by the court against him or her, including any amounts ordered by the bankruptcy court to be paid by a bankrupt spouse. If under the uniform divorce act the court of the county of the decedent's domicile residence determines the division of assets and legal title to property of the parties at the time of marriage, the court shall make a determination whether the party to whom a particular asset belongs (hereinafter the “divorced party") has the right to pay taxes on any such asset. In such case, the divorced party will be deemed to have the right to pay the taxes. A certified copy of the decision of the court of the county of the decks»d's domicilic residence regarding the division of assets and legal title to property of the parties at the time of marriage must be attached at the time of execution of this agreement. The divorce act includes a provision that the court may assess the court costs and fees.