Marriage Contracts
Once you have decided to get married, you will need advice on which matrimonial property system to choose, i.e. Antenuptial Contract or In community of property. An Antenuptial Contract can be drawn to suit your individual needs, with or without the acrual system.
In South Africa, if you are married without an Antenuptial Contract, you are automotically married In Community of Property. It is costly to have this changed once you are married.
We will be able to give you advise on all aspects of the matrimonial property act.
In Community of Property:
- Both spouses share assets and liabilities.
- Both spouses can act independently but written consent is required for certain important transactions, ie. suretyship
Antenuptial Contract:
- Each spouse retains control of his or her own property.
- Responsible for his or her own debts.
Antenuptial Contract with Accrual
- Each spouse retains control of his or her own property
- Responsible for his or her own debts.
- On dissolution of the marriage by death or divorce, the value of assets obtained during the marriage will be shared equally.
- This system ensures that each spouse has a fair share of whatever was acquired by joint effort during the marriage.
PLEASE TAKE NOTE: Your attorney will provide you with the best options to suit your individual needs.