An increasing number of couples use a property ownership agreement to clarify the ownership of assets acquired before and after marriage; many couples also choose to have such agreements notarized at a notary public office. However, many people mistakenly believe that simply having an agreement notarized ensures its absolute validity; in reality, notarization only strengthens the evidentiary value of the agreement – whether the agreement is legally valid still depends on whether its terms are lawful and whether the parties' intent to enter into the agreement was genuine and voluntary.

  Pursuant to Article 1065 of the Civil Code, the parties may agree that property acquired during the marriage or property acquired prior to the marriage shall be owned separately, jointly, or in such a manner that part of it is owned separately and part is owned jointly; such agreements shall be made in writing. The agreement between spouses regarding property acquired during the marriage or property acquired prior to the marriage shall be legally binding on both parties.

  The core elements of a marital property agreement include: the agreement being made voluntarily and genuinely by both parties, its content being lawful, and its execution in writing. Notarization merely serves to certify the authenticity of the agreement and can effectively prevent one party from denying its validity later; however, it does not render any clause that is unlawful or contrary to public order and good morals valid. If the agreement involves circumstances such as fraud, coercion, or malicious collusion that harms the interests of a third party, it may still be deemed invalid or revocable, even if it has been notarized.

  In practice, some agreements are contingent upon a divorce—for example, an agreement stating that "the real estate shall belong to one party upon divorce" —which may not take effect if the condition for such an agreement has not been satisfied, given that the parties have not yet divorced. Other agreements attempt to evade debt obligations through contractual arrangements, thereby harming the interests of creditors; such clauses are not protected by law, and the court may declare them invalid or refuse to uphold them.

  It is important to note that a marital property agreement is valid within the marriage but is subject to limitations when it comes to enforcing such an agreement against third parties. If the agreement stipulates that property belongs to one spouse while the other spouse incurs debt without the other spouse being aware of this agreement, the creditor may still claim that the debt was incurred for the common household expenses and demand joint liability; however, this is not the case unless the spouses can prove that the creditor was aware of the existence of the agreement.

  To avoid disputes, when signing a property disposition agreement, ensure that its terms are lawful, clear, and specific, and refrain from including any illegal conditions; for agreements involving significant assets, it is advisable to engage a professional lawyer to draft the agreement; provide truthful statements during the notarization process, and properly safeguard both the agreement document and the notarized document as evidence for future legal recourse.

  Furthermore, a marital property agreement may also affect the interests of third parties; for example, when one spouse borrows money from an external source, the creditor may assert that the debt constitutes a joint marital debt based on the appearance of the couple's shared life. Even in the presence of such a property agreement, disputes may still arise when dealing with the creditor; in such cases, a comprehensive assessment should be made—taking into account factors such as the purpose of the debt and the creditor's level of knowledge—and, where necessary, evidence should be provided to demonstrate the existence of the said agreement.

  It is also important to note that when signing a property agreement, both parties should fully understand the meaning of the terms and their legal consequences, thereby avoiding signing the agreement hastily due to emotional fluctuations or information asymmetry. For significant property arrangements, it is advisable to carefully review and confirm such agreements with the assistance of a professional attorney to ensure that the parties' intentions are genuine and that the terms are legally valid and enforceable.

  In conclusion, a marital property settlement agreement is binding on both parties provided that its terms are lawful, the agreement was entered into voluntarily by both parties, and it is executed in writing; while notarization can enhance the evidentiary value of such an agreement, it is not a prerequisite for its validity. Even after notarization, it remains essential to ensure that the terms do not violate any laws or infringe upon the rights of any third party. For agreements involving significant asset arrangements, it is advisable to seek professional legal counsel before signing to safeguard the validity of the agreement.