prenups question
 

 
 
WHAT HAPPENS IF I DO NOT HAVE ONE?

You may be perfectly convinced that there is no possible harm that could come to you if you don’t prepare a Thai prenup. The truth is, there is - The Thai Courts.
If the couple does not enter into the pre-nuptial agreement, the management of their property will be governed by general rules of Thai Family Law.

Read about how your property will be managed
Here’s what the Thai Family Law states about property management:

1.Either spouse has the right to manage his or her private property.


2.Both spouses must manage the common property jointly or with the consent of the other spouse in any of the following cases:

(1) Selling , exchanging, selling with right of the redemption, letting and selling on the term of hire-purchase, mortgaging, releasing mortagage or transferring the right of mortagage on immovable property or movable property which is mortgagable;
(2) Creating or extinguishing the whole or a part of a servitude, a right of habitation, a right of superficies, a usufruct, or a charge on immovable property;
(3) Letting immovable property for more than three years;
(4) Making a loan of money;
(5) Making a gift, except with due regard to the family's station in life for charitable or social purpose, or in compliance with a moral duty;
(6) Making a compromise;
(7) Submitting a dispute to arbitration;
(8) Putting up property as guarantee or security to the official or court.

The management of the common property other than those provided in paragraph one, can be done by either spouse without the consent of the other.
If either spouse has committed a juristic act mentioned above without the consent of the other spouse, such juristic act shall be valid only when it has been confirmed by the other spouse.
If the other spouse does not give consent to the act concerned or does not confirm it, he or she, as the case may be, may apply to the court to revoke such juristic act. However if it appears that a third party acted in good faith at the time of concluding such juristic act, such act cannot be revoked.
The right to revoke is limited to the period of one year from the time when the spouse is cognizant of the cause of revocation or ten years since the juristic act was done.
The power to manage common property jointly between husband and wife does not mean that the couple must ask for consent from each other for every act. Either spouse has power to manage household affairs or to provide necessaries for the family.(
Debts incurred by either spouse during marriage are common debts which are binding on both spouses equally, as follows;

(1)debts incurred for the necessary management of household affairs, maintenance, and medical expenses of the household and proper education of the children.
(2)debts incurred in connection with the common property.
(3)debts incurred in connection with a business carried on by the spouse in common.
(4) debts incurred by either spouse only for his or her own benefit but confirmed by the other.

Upon termination of the marriage, the common property shall be returned to each spouse equally. Both spouse are liable for common debts to the same proportion.(36)
 
 
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