Table of Contents
Matrimonial Property Contract
The Hungarian legislation in force provides the possibility for either the newlyweds or the spouses in the case of an existing marriage to settle their property relations established by the marriage with a matrimonial property law contract for the duration of the marital partnership, i.e. to deviate from the legal property law system for the duration of the marriage.
In the matrimonial property law contract, it is also possible for the spouses to apply multiple property law systems to their individual property relations. Accordingly, they can stipulate:
- Public contract system: in the case of a public contract system, the parties are independent property acquirers during the existence of the marital partnership, accordingly the rules of property separation apply between them.
- Exclusion of Conjugal Property: in the case of exclusion of marital property, the parties may exclude the conjugal property for the future completely or with regard to specific acquisitions, assets, burdens and debts.
Form of Matrimonial Property Contract
The parties may enter into a matrimonial property contract in person, i.e. there is no place for representation. The matrimonial property contract can be concluded in a public document or in a private document countersigned by a lawyer.
Provision in Case of Death
Spouses can dispose of their property in the event of their death in the marital property rights contract. If this happens, the rules of the joint will must be applied to this provision.