We are unaware of any requirement to inquire about a potential borrower’s prenuptial or premarital agreements in a community property state.

Still, we can see how this information could be helpful, as prenuptial or premarital agreements may contain information needed to underwrite a loan. For example, a prenuptial agreement could clarify the ownership of property securing a loan when the property is relied on to underwrite the loan, particularly in community property states where it is not always clear whether property should be considered “separate” or “community” property.

As an aside, while Regulation B generally limits inquiries about an applicant’s spouse and marital status, we do not believe these limits would apply to inquiries about a prenuptial or premarital agreement. Regulation B permits lenders to ask about an applicant’s spouse and marital status if the applicant lives in a community property state or is relying on property located in a community property state, among other reasons. Regulation B also permits inquiries about income derived from alimony, child support, or separate maintenance payments, with a disclosure “that such income need not be revealed if the applicant does not want the creditor to consider it in determining the applicant’s creditworthiness.”

Because Regulation B does not prohibit inquiries about prenuptial or premarital agreements, you may wish to include these inquiries in your application process if the borrower is a resident of a community property state or the collateral is located in such a state. But again, these inquiries are not required, and we do not recommend inquiring about prenuptial or premarital agreements if you are not using their information in your underwriting process.

Finally, we should note that Illinois is not a community property state (although our neighboring state of Wisconsin is one).

For resources related to our guidance, please see:

• Regulation B, 12 CFR 1002.5(c)(2) (“A creditor may request any information concerning an applicant’s spouse (or former spouse under paragraph (c)(2)(v) of this section) that may be requested about the applicant if: (i) The spouse will be permitted to use the account; (ii) The spouse will be contractually liable on the account; (iii) The applicant is relying on the spouse's income as a basis for repayment of the credit requested; (iv) The applicant resides in a community property state or is relying on property located in such a state as a basis for repayment of the credit requested