Contracting Out Agreements
If people have assets they wish to protect they can enter into a contracting-out agreement with their partner at the beginning of the relationship. The provisions in part 6 of the Act deal with contracting out of the Act so that the 50/50 split can be avoided. For contracting-out agreements to be watertight, they must be drafted in such a way as to allow for the creation of future property.
Read more about this topic: Property (Relationships) Act 1976
Famous quotes containing the words contracting and/or agreements:
“Independence I have long considered as the grand blessing of life, the basis of every virtue; and independence I will ever secure by contracting my wants, though I were to live on a barren heath.”
—Mary Wollstonecraft (1759–1797)
“The difference between de jure and de facto segregation is the difference open, forthright bigotry and the shamefaced kind that works through unwritten agreements between real estate dealers, school officials, and local politicians.”
—Shirley Chisholm (b. 1924)