Postnuptial Agreement to Convert Separate Property into Community Property

Postnuptial Agreement to Convert Separate Property into Community Property

Agreement made on the , between

of , referred to herein as Husband, and of , referred to herein as Wife.

Husband and Wife are sometimes jointly referred to as the Parties.

Whereas, the Parties married on at , and since that date have been and now are living together as Husband and Wife. The Parties during their marriage have acquired certain property which, by virtue of the laws of is the community property of the Parties, and which property is listed and described in Schedule A, which is annexed to this Agreement and incorporated by reference; and

Whereas, the Parties desire that their respective rights and interest in and to all their community property be expressly set forth and established in accordance with the terms and provisions of this Agreement;

Now, therefore, for and in consideration of the mutual covenants contained in this agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

1. Separate Property Transmuted to Community Property

All property now owned as separate property by Husband and by Wife, respectively, which separate property is listed and described in Schedule B, is declared by the Parties to be, and it now is, their community property.

2. Management by Husband

All of the interests of the Parties in their community property during the continuance of the marriage are, and shall be subject to, the sole management, control, and disposition of Husband as set forth in .

3. After-Acquired Property

All property subsequently acquired by the Parties, or either of them, whether earned by capital or by personal efforts or otherwise acquired, and regardless of whether it is real, personal, or mixed, shall be deemed to be, and is now declared to be, the community property of the Parties.

4. Full Disclosure by Parties

Each of the Parties has made a full disclosure to the other party of all property owned or otherwise held by each respective party, as is shown in Schedule B, attached.

5. Execution of Necessary Instruments

Each party shall cooperate fully with the other party in preparing, executing, and delivering all instruments necessary to carry into effect the provisions of this Agreement.

6. Parties Represented by Counsel

The Parties acknowledge that they, and each of them, have been represented by counsel of their choice in the preparation of this Agreement; their rights in the property described in this Agreement and in Schedules A and B have been fully explained to them; the legal effect of this Agreement has been fully explained to them; and they understand the terms, provisions, and legal effect of this Agreement.

7. Severability

The invalidity of any portion of this Agreement will not and shall not be deemed to affect the validity of any other provision. If any provision of this Agreement is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision.

8. No Waiver

The failure of either party to this Agreement to insist upon the performance of any of the terms and conditions of this Agreement, or the waiver of any breach of any of the terms and conditions of this Agreement, shall not be construed as subsequently waiving any such terms and conditions, but the same shall continue and remain in full force and effect as if no such forbearance or waiver had occurred.

9. Governing Law

This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of .

10. Mandatory Arbitration

Any dispute under this Agreement shall be required to be resolved by binding arbitration of the parties hereto. If the parties cannot agree on an arbitrator, each party shall select one arbitrator and both arbitrators shall then select a third. The third arbitrator so selected shall arbitrate said dispute. The arbitration shall be governed by the rules of the American Arbitration Association then in force and effect.

11. Entire Agreement

This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement.

12. Modification of Agreement

Any modification of this Agreement or additional obligation assumed by either party in connection with this Agreement shall be binding only if placed in writing and signed by each party or an authorized representative of each party.

13. Assignment of Rights

The rights of each party under this Agreement are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party.

14. Counterparts

This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute but one and the same instrument.

15. In this Agreement, any reference to a party includes that party's heirs, executors, administrators, successors and assigns, singular includes plural and masculine includes feminine.

WITNESS our signatures as of the day and date first above stated.

Attach Schedules

Acknowledgements