Formation requirements Sample Clauses

Formation requirements. A premarital agreement or marital agreement must be in a record and signed by both parties. The agreement is enforceable without consideration.

Formation requirements i. C.R.S. § 14-2-306. Formation requirements: A premarital agreement or marital agreement must be in a record and signed by both parties. The agreement is enforceable without consideration. ii. IRM Xxxxxx, 480 P.3d 676 (Colo. 2021) 1. Parties’ oral agreement to exclude their retirement accounts and inheritances from the marital estate was not a valid agreement because, at the time agreement was entered, Colorado statutory law required that all agreements between spouses be in writing and signed by both parties. 2. Parties’ conduct after entering into the oral agreement to exclude their retirement accounts and inheritances from the marital estate could not be treated as partial performance that satisfied statutory writing and signature requirements at time agreement was entered. iii. XXX Xxxxxx, 480 P.3d 691 (Colo. 2021): 1. Interspousal transfer deed executed by husband, which conveyed a home to wife as her separate property, was not a “valid agreement” under Uniform Dissolution of Marriage Act (UDMA), and, thus, home remained subject to presumption of marital property in marriage dissolution proceeding; although deed was “marital agreement” signed by husband, it was not signed by wife, as required by Uniform Premarital and Marital Agreements Act (UPMAA).