Prenuptial Agreement Hong Kong FeeSunday, April 11, 2021 Category: Uncategorized
Finally, marital agreements can dispel misunderstandings between couples. Finance remains a major source of conflict. A Prenup will define the financial responsibilities and duties of the couple in marriage. “Change is the only constant in life” and “uncertainty is the only certainty.” What matters is to prepare, as much as possible, for the consequences of any change. An effective marriage agreement allows the parties to prepare for an unfortunate breakdown of their relationship and avoid the cost of litigation. In truth, there seems to be something pessimistic to do. This is probably why Hong Kongers are not enthusiastic. However, there are those who understand the practicality of developing a prenup agreement before tying the knot. This is especially true if you come from a wealthy family or if you are willing to inherit your parents` fortune. If you commit, marital agreements are a far cry from your main concerns. The romance to be proposed and said yes to the love of their lives indicates the beginning of your lucky. We want our marriage to continue until death, and we do not want anything as bare as a pre-marital agreement to suggest that it will not happen. Apart from separation agreements, other post-marriage agreements are less common.
There is no specific legislation governing such agreements and Hong Kong courts generally do not recognize them as legally binding. However, it is doubtful that there is nothing that prohibits the courts from considering such agreements when a couple needs a court decision on the division of real estate and other exemptions in their divorce proceedings, if it takes into account the factors mentioned in Section 7 of the MPPO, which requires the court “to take into account the conduct of the parties and all circumstances.” The case concerned the effects of a German marriage contract between German nationals in Hong Kong. The Hong Kong court found that the existence of the German marriage contract and a German separation agreement was clearly a factor to be considered at the husband`s request to support the divorce proceedings in Hong Kong on the grounds of the non-agreed Forum. However, beyond the agreements, the real and essential link between the parties and Hong Kong has been overwhelming. The trial judge did not give reasonable weight to the factors that bind the parties, the marriage and the matrimonial home in Hong Kong and, therefore, the Intermediate Court of Appeal reasonably refused to support the case. The Court of Final Appeal expressly held that the decision of the United Kingdom Supreme Court in Radmacher/Granatino  UKSC 42,  1 A.C. 534 – with qualified effect on marriage contracts – constitutes the right in Hong Kong. However, the Hong Kong court did not clarify Radmacher. Historically, marital agreements in Hong Kong have been considered a violation of public order because they undermine the matrimonial institution and override the jurisdiction of the courts for financial relief.
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