Minnesota Session Laws - 2002, Regular Session

                            CHAPTER 338-S.F.No. 3380 
                  An act relating to family law; modifying provisions 
                  governing postnuptial contracts; amending Minnesota 
                  Statutes 2000, section 519.11, subdivision 1a. 
        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
           Section 1.  Minnesota Statutes 2000, section 519.11, 
        subdivision 1a, is amended to read: 
           Subd. 1a.  [POSTNUPTIAL CONTRACT.] (a) Spouses who are 
        legally married under the laws of this state may enter into a 
        postnuptial contract or settlement which is valid and 
        enforceable if it: 
           (1) complies with the requirements for antenuptial 
        contracts or settlements in this section and in the law of this 
        state, including, but not limited to, the requirement that it be 
        procedurally and substantively fair and equitable both at the 
        time of its execution and at the time of its enforcement; and 
           (2) complies with the requirements for postnuptial 
        contracts or settlements in this section. 
           (b) A postnuptial contract or settlement that conforms with 
        this section may determine all matters that may be determined by 
        an antenuptial contract or settlement under the law of this 
        state, except that a postnuptial contract or settlement may not 
        determine the rights of any child of the spouses to child 
        support from either spouse or rights of child custody or 
        parenting time. 
           (c) A postnuptial contract or settlement is valid and 
        enforceable only if at the time of its execution each spouse is 
        represented by separate legal counsel. 
           (d) A postnuptial contract or settlement is valid and 
        enforceable only if at the time of its execution each of the 
        spouses entering into the contract or settlement has marital 
        property titled in that spouse's name, nonmarital property, or a 
        combination of marital property titled in that spouse's name and 
        nonmarital property with a total net value exceeding 
        $1,200,000 presumed to be unenforceable if either party 
        commences an action for a legal separation or dissolution within 
        two years of the date of its execution, unless the spouse 
        seeking to enforce the postnuptial contract or settlement can 
        establish that the postnuptial contract or settlement is fair 
        and equitable. 
           (e) A postnuptial contract or settlement is not valid or 
        enforceable if either party commences an action for a legal 
        separation or dissolution within two years of the date of its 
        execution. 
           (f) Nothing in this section shall impair the validity or 
        enforceability of a contract, agreement, or waiver which is 
        entered into after marriage and which is described in chapter 
        524, article 2, part 2, further, a conveyance permitted by 
        section 500.19 is not a postnuptial contract or settlement under 
        this section. 
           Presented to the governor April 12, 2002 
           Signed by the governor April 16, 2002, 11:58 a.m.