(750 ILCS 10/1) (from Ch. 40, par. 2601)
Sec. 1.
This Article shall be known and may be cited as the Illinois Uniform Premarital Agreement Act.
(Source: P.A. 86-966.)
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(750 ILCS 10/2) (from Ch. 40, par. 2602)
Sec. 2.
Definitions.
As used in this Article:
(1) "Premarital agreement" means an agreement between prospective
spouses made in contemplation of marriage and to be effective upon marriage.
(2) "Property" means an interest, present or future, legal or equitable,
vested or contingent, in real or personal property, including income and earnings.
(Source: P.A. 86-966.)
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(750 ILCS 10/3) (from Ch. 40, par. 2603)
Sec. 3.
Formalities.
A premarital agreement must be in writing and
signed by both parties. It is enforceable without consideration.
(Source: P.A. 86-966.)
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(750 ILCS 10/4) (from Ch. 40, par. 2604)
Sec. 4.
Content.
(a) Parties to a premarital agreement may contract with respect to:
(1) the rights and obligations of each of the parties in any of the
property of either or both of them whenever and wherever acquired or located;
(2) the right to buy, sell, use, transfer, exchange, abandon, lease,
consume, expend, assign, create a security interest in, mortgage, encumber,
dispose of, or otherwise manage and control property;
(3) the disposition of property upon separation, marital dissolution,
death, or the occurrence or nonoccurrence of any other event;
(4) the modification or elimination of spousal support;
(5) the making of a will, trust, or other arrangement to carry out the
provisions of the agreement;
(6) the ownership rights in and disposition of the death benefit from a
life insurance policy;
(7) the choice of law governing the construction of the agreement; and
(8) any other matter, including their personal rights and obligations,
not in violation of public policy or a statute imposing a criminal penalty.
(b) The right of a child to support may not be adversely affected by a
premarital agreement.
(Source: P.A. 86-966.)
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(750 ILCS 10/5) (from Ch. 40, par. 2605)
Sec. 5.
Effect of marriage.
A premarital agreement becomes effective
upon marriage.
(Source: P.A. 86-966.)
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(750 ILCS 10/6) (from Ch. 40, par. 2606)
Sec. 6.
Amendment, revocation.
After marriage, a premarital
agreement may be amended or revoked only by a written agreement signed by
the parties. The amended agreement or the revocation is enforceable
without consideration.
(Source: P.A. 86-966.)
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(750 ILCS 10/7) (from Ch. 40, par. 2607)
Sec. 7.
Enforcement.
(a) A premarital agreement is not enforceable
if the party against whom enforcement is sought proves that:
(1) that party did not execute the agreement voluntarily; or
(2) the agreement was unconscionable when it was executed and, before
execution of the agreement, that party:
(i) was not provided a fair and reasonable disclosure of the property or
financial obligations of the other party;
(ii) did not voluntarily and expressly waive, in writing, any right to
disclosure of the property or financial obligations of the other party
beyond the disclosure provided; and
(iii) did not have, or reasonably could not have had, an adequate
knowledge of the property or financial obligations of the other party.
(b) If a provision of a premarital agreement modifies or eliminates
spousal support and that modification or elimination causes one party to
the agreement undue hardship in light of circumstances not reasonably
foreseeable at the time of the execution of the agreement, a court,
notwithstanding the terms of the agreement, may require the other party to
provide support to the extent necessary to avoid such hardship.
(c) An issue of unconscionability of a premarital agreement shall be
decided by the court as a matter of law.
(Source: P.A. 86-966.)
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(750 ILCS 10/8) (from Ch. 40, par. 2608)
Sec. 8.
Enforcement: void marriage.
If a marriage is determined to be
void, an agreement that would otherwise have been a premarital agreement is
enforceable only to the extent necessary to avoid an inequitable result.
(Source: P.A. 86-966.)
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(750 ILCS 10/9) (from Ch. 40, par. 2609)
Sec. 9.
Limitation of actions.
Any statute of limitations applicable
to an action asserting a claim for relief under a premarital agreement is
tolled during the marriage of the parties to the agreement. However,
equitable defenses limiting the time for enforcement, including laches and
estoppel, are available to either party.
(Source: P.A. 86-966.)
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(750 ILCS 10/10) (from Ch. 40, par. 2610)
Sec. 10.
Application and construction.
This Act shall be applied and
construed to effectuate its general purpose to make uniform the law with
respect to the subject of this Act among states enacting it.
(Source: P.A. 86-966.)
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(750 ILCS 10/11) (from Ch. 40, par. 2611)
Sec. 11.
Time of taking effect.
This Article applies to any premarital
agreement executed on or after January 1, 1990.
(Source: P.A. 86-966; 86-1028.)
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