MS HB1402

Authorizes legal spouses to partition, exchange, or agree upon the property interests of each spouse at any time during marriage, with transferred property becoming the separate property of the receiving spouse.

Requires all partition, exchange, or property agreements between spouses to be in writing and signed by both parties to be enforceable, with no consideration required.

Makes agreements unenforceable only if a party proves involuntary signing or that the agreement was unconscionable due to lack of fair disclosure of the other party's property or financial obligations.

Voids any agreement provisions intended to defraud preexisting creditors, and allows agreements to be recorded in deed records for constructive notice to good faith purchasers and creditors.

Prohibits agreements from addressing child custody or child support, declaring any such provisions void and unenforceable, and requires courts to incorporate alimony agreements into divorce decrees.