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What is a marriage contract, and how does it differ from other agreements in Ontario?

In Ontario, Canada, couples who are planning to get married or who are already married can enter into a marriage contract. In this article, we will explore what a marriage contract is and how it differs from other agreements in Ontario.

What is a Marriage Contract?

A marriage contract is a domestic agreement between parties who are planning to get married or who are already married. The contract can be used to set out the rights and obligations of each party in the event of a separation or divorce. A marriage contract can cover issues such as property division, spousal support, and inheritance rights.

What are the Requirements for a Marriage Contract?

To be valid, a marriage contract must meet certain requirements under Ontario law.

  • First, both parties must enter into the agreement voluntarily and with full knowledge of its contents.
  • Second, the agreement must be in writing and signed by both parties.
  • Third, both parties must receive independent legal advice before signing the agreement.
  • Fourth, both parties must provide full and frank disclosure of their financial circumstances.

How does a Marriage Contract differ from Prenuptial or Postnuptial agreement?

A marriage contract differs from other domestic agreements in Ontario in several ways:

1. Timing

A marriage contract is entered into before or during a marriage, whereas a separation agreement is entered into after a separation. A cohabitation agreement is entered into before or during a common-law relationship.

2. Scope

A marriage contract can cover a range of issues, including property division, spousal support, and inheritance rights. A cohabitation agreement can cover these issues as well as child custody (Decision-making responsibility) and access. A separation agreement can cover all issues that arise upon separation, including child custody, access, and support.

3. Formality

A marriage contract is a formal legal document that must meet the requirements of the Family Law Act. A cohabitation agreement and a separation agreement can be less formal, but they must still meet certain legal requirements to be valid.

4. Enforceability

A marriage contract is presumed to be enforceable unless one of the parties can show that it was not entered into voluntarily or that there was a lack of full and frank disclosure of financial circumstances. A cohabitation agreement and a separation agreement must meet the same requirements as a marriage contract to be enforceable.