Section § 1500

Explanation

This law states that the default property rights that spouses have under the law can be changed if they create a premarital agreement or another type of marital property agreement.

The property rights of spouses prescribed by statute may be altered by a premarital agreement or other marital property agreement.

Section § 1501

Explanation

In California, an emancipated minor, a minor allowed to marry under certain conditions, or one entering a marriage valid in another place can make a valid prenup or marital property agreement.

A minor may make a valid premarital agreement or other marital property agreement if the minor is emancipated, is otherwise capable of contracting marriage pursuant to Section 302 or 303, or has entered or is entering a marriage that is valid in the jurisdiction where the marriage is solemnized.

Section § 1502

Explanation

This law says that if you have a premarital or marital property agreement, you can record it in the county where any property mentioned in the agreement is located, just like you would record property deeds. Whether you record it or not has the same impact as doing so for property deeds.

(a)CA Family Law Code § 1502(a) A premarital agreement or other marital property agreement that is executed and acknowledged or proved in the manner that a grant of real property is required to be executed and acknowledged or proved may be recorded in the office of the recorder of each county in which real property affected by the agreement is situated.
(b)CA Family Law Code § 1502(b) Recording or nonrecording of a premarital agreement or other marital property agreement has the same effect as recording or nonrecording of a grant of real property.

Section § 1503

Explanation

This law says that premarital agreements created before January 1, 1986, are not affected by current laws in this chapter. Those agreements will continue to be governed by the legal rules that were in place before that date.

Nothing in this chapter affects the validity or effect of premarital agreements made before January 1, 1986, and the validity and effect of those agreements shall continue to be determined by the law applicable to the agreements before January 1, 1986.