Postnuptial (marriage agreement considered as one party and no joint assets
and interests. Having a marital agreement
after marriage) can make status of the assets clearly and for It’s necessary for mixed marriage couple the Indonesian Citizen can protecting their (foreigner and Indonesian) in Indonesia to property in Indonesia. protect their assets. An Indonesia spouse is Postnuptial agreements have similar excluded to own a property when they are requirements to other contracts. In order for married to a foreigner. It means their right a postnuptial agreement to be valid in the to own property in Indonesia may be in eyes of the law, it must: danger. Be presented in writing and signed With postnuptial, mixed married couples in by both parties Indonesia can assign property division in the event of separation or death and will be Be entered into voluntarily by both effective from the signing date. parties Without the postnuptial, there are some Include a complete and honest cases when mixed marriage couple disclosure of each party’s income, purchase fake identity cards, or make use of assets, debts, and respective values their family member or relative’s name to Include terms that are not one-sided buy a property. or unjust It is written in the Article 119 Civil Code Allow both parties ample time to Book that from the moment of execution of review the terms of the agreement the marriage the assets of the parties will be joint assets. It can cause a problem when the Some specific examples of assets that must Indonesian Citizen wants to have a be disclosed in a postnuptial agreement property, because according to the Agrarian include: Law, foreigners cannot obtain the right of ownership overland and due to the marriage Any property owned separately or status, they are considered as one party together which can prevent the Indonesian Citizen Information about bank accounts from owning a property with right of owned individually or mutually ownership. Any investments that either party has made Indonesian Law provides a solution as Any information regarding written in Marriage Law that if the parties businesses owned individually or provide a marital agreement which states mutually the separation of assets and there will be no Information about debts such as joint assets or joint marital between the loans, mortgages, etc. parties. Marital agreement is helpful for mixed marriage couples to ensure the safety There is a common misconception that of their assets. postnuptial agreements are only beneficial for the wealthy. This is untrue; anyone who By having postnuptial agreement, the wants to protect their assets in the event of Indonesian party in the mixed marriage can a divorce will benefit from a postnuptial still buy the assets with the right ownership. agreement. Some people who may benefit Furthermore, since the assets between greatly include: husband and wife will be separated, thus, they can establish a limited liability People who own their own company and make cooperation between businesses couple because the spouses are not People marrying someone who has Creating a template for a divorce a large amount of debt agreement. Anyone who has assets, such as land Postnuptial agreements are often or vehicles, that they want to created to make decisions regarding separate legally from their marital the division of assets when each property party is in a level state of mind. In the event of a divorce, the People who want to ensure their agreement will already exist and can children will receive their assets in be incorporated into the couple’s the event of their death divorce decree, speeding up the Ultimately, postnuptial agreements are used divorce process and preventing for three main purposes: legal back-and-forth.
Dividing assets and ensuring
spousal support. Postnuptial agreements can include provisions regarding alimony and spousal support, as well as the division of assets owned prior to, and acquired during, the marriage. As a legally binding means to waive spousal rights in the event of death. Some couples decide to create a postnuptial agreement to ensure that their assets will be divided and passed on when either of them dies. The agreement can allow each spouse to waive their rights to the other spouse’s assets in the event of their death, so their assets can be given to their children. If the Indonesian spouse dies, the foreign spouse must transfer the property Hak Milik or Hak Guna Bangunan within 12 months to other Indonesian's name. In many cases, this may be the child/children of the couple. You also can ask national land agency to reduce the right of property to be Hak Pakai. At this stage, the stipulation imposed by the 1960 Basic Property Law is still applicable for foreigners. The postnuptial protects your financial interest in the event one of you passes away.