Full question:
When I signed our premarital agreement, I had no idea that my husband had incurred debts that we probably can’t even afford. Can I get the premarital agreement cancelled on the above stated reasons?
- Category: Marriage
- Subcategory: Premarital Agreements
- Date:
- State: New Jersey
Answer:
Yes, you can seek to cancel your premarital agreement if you can prove you were unaware of your husband's debts. Under New Jersey law, if you can show, with clear and convincing evidence, that you did not have a fair understanding of his financial obligations, the court may set aside the agreement.
The law states that a premarital agreement is unenforceable if:
- You executed the agreement involuntarily;
- The agreement was unconscionable at the time it was signed because you:
- Did not receive full and fair disclosure of the other party's earnings, property, and debts;
- Did not waive your right to such disclosure in writing;
- Lacked adequate knowledge of the other party's financial situation;
- Did not consult with independent legal counsel and did not waive that right in writing.
The court will determine if the agreement is unconscionable based on these criteria (N.J. Stat. § 37:2-38).
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.