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A marriage settlement in England and Wales was a historical arrangement whereby, most commonly and in its simplest form, a trust of land or other assets was established jointly by the parents of a bride and bridegroom. The trustees were established as legal owners of the assets, and the bride and bridegroom as beneficial owners of the assets ...
Part of the marriage settlement took the form of a covenant made by William K. Vanderbilt to pay Consuelo $100,000 annually for their joint lifetimes; this provided for the payment of $2,500,000 within a year of his death to Consuelo's trustees, with the income to be derived by her for the remainder of her lifetime.
A prenuptial agreement, antenuptial agreement, or premarital agreement (commonly referred to as a prenup), is a written contract entered into by a couple before marriage or a civil union that enables them to select and control many of the legal rights they acquire upon marrying, and what happens when their marriage ends by death or divorce.
After marriage, the father of the husband would settle lands or income [1] on the couple to enable them to lead an economically independent life. This usually took the form of a settlement by deed, giving the couple joint tenancy for the duration of their lives (ensuring that the wife would keep all of the property upon being widowed). [1]
Matrimonial regimes, or marital property systems, are systems of property ownership between spouses providing for the creation or absence of a marital estate and if created, what properties are included in that estate, how and by whom it is managed, and how it will be divided and inherited at the end of the marriage.
However, in the early modern period, it was common for a wife to bar her right to dower in advance under a marriage settlement, under which she agreed to take instead a jointure, that is a particular interest in her husband's property, either a particular share, or a life interest in a particular part of the land, or an annuity. This was often ...