Before their marriage, Grace and Tom signed a prenuptial agreement specifying that all property each person acquires during the marriage will remain that person's separate property. During the marriage, Tom purchases a condominium in Kirkland using his wages. Grace later claims a community property interest in the condominium. Tom argues the prenuptial agreement controls. Under Washington law, which of the following is most accurate?
Correct Answer
B) Tom is correct; a valid prenuptial agreement in Washington can modify or waive community property rights, making the condominium his separate property
Washington law (RCW 26.16.120) permits spouses to enter into prenuptial (premarital) agreements that modify or waive community property rights, provided the agreement is in writing, signed voluntarily, and meets the requirements of the Uniform Premarital Agreement Act as adopted in Washington. A valid prenuptial agreement can classify property that would otherwise be community property as separate property. If Grace and Tom's prenuptial agreement validly designates all property acquired during marriage as separate property, the condominium purchased with Tom's wages would be his separate property, not community property.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Community property is a form of ownership recognized in certain states where property acquired during marriage is considered equally owned by both spouses, regardless of who earned the money or whose name is on the title.
Condominium ownership involves owning a unit of airspace within a multi-unit building plus an undivided interest in the common elements shared with other unit owners. Each unit is separately taxed and financed.
In a cooperative (co-op), the building is owned by a corporation, and residents purchase shares of stock in the corporation that entitle them to a proprietary lease on a specific unit. Residents are shareholders, not property owners.
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