A marital property partition agreement—also known as a partition and exchange agreement, a postmarital agreement, or a postnuptial agreement—is an agreement between spouses during marriage to convert marital property (also known as community property in some states) to one spouse’s separate property.

Property that is jointly owned by spouses or domestic partners (often owned as joint tenants with a right of survivorship) may also be partitioned or divided in a lawsuit or court action rather than by agreement of the spouses.

Laws regarding marital property partition agreements vary from state to state and are generally located in a state’s statutes—often in the family code or domestic relations code.

In New Jersey, marital property is not automatically considered community property as New Jersey is an equitable distribution state, not a community property state. This means that in the event of a divorce, marital property is divided equitably, but not necessarily equally, based on a set of factors the court considers. A marital property partition agreement, known in New Jersey as a postnuptial agreement, allows spouses to agree on how their property should be classified and divided during the marriage or in the event of a divorce. Such agreements must be in writing, include a full and fair disclosure of the assets of both parties, and be entered into voluntarily by both parties with the opportunity to consult with an attorney. The agreement can convert jointly owned property into separate property of one spouse, among other provisions. If spouses cannot agree on the division of property, a New Jersey court can partition the property in a lawsuit, taking into account factors such as the duration of the marriage, the age and health of the parties, and their economic circumstances. It is important for individuals considering a postnuptial agreement in New Jersey to consult with an attorney to ensure that the agreement is drafted correctly and meets all legal requirements.