had not been passed, under and according to the law in force at the

108.550 had not been passed, under and according to the law in force at the time such right was acquired, except as provided in ORS 108.530 and 108.540.

����� 108.530 Removal of community property status by agreement. Community property acquired during marriage and between July 5, 1947, and April 11, 1949, may be converted into property held as tenants in common or by entirety or as the separate property of either spouse by an agreement in writing evidencing such intent, signed by both spouses in a marriage. If the agreement affects title to real property, the agreement shall describe the property affected by the agreement, shall be executed and acknowledged in the same manner as deeds and shall be recorded in the deed records of each county in which any such real property is located. [Amended by 2015 c.629 �26]

����� 108.540 Removal of community property status by death of either spouse. Upon the death of either spouse after April 11, 1951, all real or personal property which would have been the separate property of such spouse but for the enactment of chapter 525, Oregon Laws 1947, shall be subject to disposition by will and to descent and distribution as the separate property of such decedent as though said chapter 525 had not been passed.

����� 108.550 Reliance on spouse�s right to deal with property in spouse�s name. Notwithstanding any provisions of chapter 525, Oregon Laws 1947, or any provision of ORS 108.520 to 108.550, any third person may rely, and shall be fully protected in relying, upon the right of either spouse in a marriage to receive, manage, control, dispose of or otherwise deal with property standing in that spouse�s name in such manner as the spouse is entitled to by law. [Amended by 2015 c.629 �27]

����� 108.610 [Formerly 184.885; 1983 c.480 �1; 2001 c.900 �237; renumbered 409.290 in 2005]

����� 108.620 [Formerly 184.890; 1983 c.480 �2; 1993 c.546 �97; renumbered 409.292 in 2005]

����� 108.630 [1981 c.357 �5; 1983 c.480 �3; renumbered 409.294 in 2005]

����� 108.640 [1981 c.357 ��6,8; 1983 c.480 �4; renumbered 409.296 in 2005]

����� 108.650 [1981 c.357 �7; renumbered 409.298 in 2005]

����� 108.660 [1981 c.357 �9; 1983 c.480 �5; 1995 c.79 �36; renumbered 409.300 in 2005]

����� 108.662 [1995 c.555 �5; 2001 c.829 �3; 2005 c.700 �6; renumbered 409.304 in 2005]

PREMARITAL AGREEMENTS

����� 108.700 Definitions for ORS 108.700 to 108.740. As used in ORS 108.700 to 108.740:

����� (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. [1987 c.715 �1]

����� Note: 108.700 to 108.740 were enacted into law by the Legislative Assembly but were not added to or made a part of ORS chapter 108 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.

����� 108.705 Agreement to be in writing; consideration not required. A premarital agreement must be in writing and signed by both parties. It is enforceable without consideration. [1987 c.715 �2]

����� Note: See note under 108.700.

����� 108.710 Subjects of agreement; child support not to be adversely affected. (1) Parties to a premarital agreement may contract with respect to:

����� (a) 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;

����� (b) 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;

����� (c) The disposition of property upon separation, marital dissolution, death or the occurrence or nonoccurrence of any other event;

����� (d) The modification or elimination of spousal support;

����� (e) The making of a will, trust or other arrangement to carry out the provisions of the agreement;

����� (f) The ownership rights in and disposition of the death benefit from a life insurance policy;

����� (g) The choice of law governing the construction of the agreement; and

����� (h) Any other matter, including their personal rights and obligations, not in violation of public policy or a statute imposing a criminal penalty.

����� (2) The right of a child to support may not be adversely affected by a premarital agreement. [1987 c.715 �3]

����� Note: See note under 108.700.

����� 108.715 Agreement effective upon marriage. A premarital agreement becomes effective upon marriage. [1987 c.715 �4]

����� Note: See note under 108.700.

����� 108.720 Modification of agreement; consideration not required. 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. [1987 c.715 �5]

����� Note: See note under 108.700.

����� 108.725 Party may prove agreement unenforceable; when court may require support; determination of unconscionability. (1) A premarital agreement is not enforceable if the party against whom enforcement is sought proves that:

����� (a) That party did not execute the agreement voluntarily; or

����� (b) The agreement was unconscionable when it was executed and, before execution of the agreement, that party:

����� (A) Was not provided a fair and reasonable disclosure of the property or financial obligations of the other party;

����� (B) 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

����� (C) Did not have, or reasonably could not have had, an adequate knowledge of the property or financial obligations of the other party.

����� (2) If a provision of a premarital agreement modifies or eliminates spousal support and that modification or elimination causes one party to the agreement to be eligible for support under a program of public assistance or medical assistance at the time of separation or marital dissolution, a court, notwithstanding the terms of the agreement, may require the other party to provide support to the extent necessary to avoid that eligibility.

����� (3) An issue of whether a premarital agreement is unconscionable shall be decided by the court as a matter of law. [1987 c.715 �6; 2013 c.688 �12]

����� Note: See note under 108.700.

����� 108.730 Effect of 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. [1987 c.715 �7]

����� Note: See note under 108.700.

����� 108.735 Statute of limitations; defenses. 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. [1987 c.715 �8]

����� Note: See note under 108.700.

����� 108.740 Short title; construction; severability. (1) ORS 108.700 to 108.740 may be cited as the Uniform Premarital Agreement Act.

����� (2) ORS 108.700 to 108.740 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.

����� (3) If any provision of ORS 108.700 to 108.740 or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of ORS 108.700 to 108.740 which can be given effect without the invalid provision or application, and to this end the provisions of ORS 108.700 to 108.740 are severable. [1987 c.715 �9]

����� Note: See note under 108.700.

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