Part 2: Consequences of being married out of community of property excluding accrual
This matrimonial property regime also involves an antenuptial contract (ANC) where community of property and profit and loss are excluded. There is no joining of the spouses’ estates into one joint estate. Each spouse has his/her own separate estate, consisting of his/her premarital assets and debts, and all the assets and debts he/she acquires during […]
Altering your matrimonial property regime
In order for parties to change their matrimonial property regime from ‘in community’ to ‘out of community’, both parties will need to apply to the High Court in terms of Section 21(1) of the Matrimonial Property Act 88 of 1984 for leave to sign a notarial contract which, after registration at the Deeds Office, will […]
Antenuptial explained
An antenuptial contract (ANC) is an agreement entered into between two parties prior to their marriage. There are two forms of antenuptial contracts, those including the accrual and those excluding the accrual. Section 4(1)(a) of the Matrimonial Property Act 88 of 1984 provides that, the accrual of the estate of a spouse is the amount […]