Posted in Finance, Accounting and Economics Terms, Total Reads: 160
Definition: Dower Agreement
A dower agreement is an agreement that is signed by a husband or his family for the wife such that in an instance of a death of the husband or for any other reason, the wife may get some financial help thereafter. A dower agreement is signed during the agreement of marriage itself or it can be provided by the country’s law.
This entitles the widow to have a portion of her husband’s property in case of an absence of a will that had been signed. By this clause, the wife can get an interest on her husband’s property for her children from the same marriage. Also, the percentage of the interest on the husband’s property the wife can secure is about 33% or to say about 1/3rd of the total asset.
For Example, a husband can sign a particular property of his own as a dower agreement in order to support his wife in the future in the event of his death.