What is An Antenuptial Contract?

Even though it might not be the most romantic subject, before you get married, it is essential to think about a few legalities. One such decision is whether to get married in community or out of community of property. Here is a quick guide on what you need to know:

 

South African Marriage Law

You are automatically married in community of property in terms of South African Law if you did not sign an Antenuptial Contract prior to your marriage. “In community of property” means that all assets and debts before marriage are put together in a joint estate. From this point onwards everything they earn or buy after their marriage will also form part of this joint estate, including any debt and liabilities incurred by either one of them.

In order to marry out of community of property in South Africa, both parties must sign an antenuptial agreement in the presence of a public notary prior to their marriage.

Antenuptial Contract South Africa

What is an Antenuptial Contract?

An Antenuptial Contract (ANC) is a contract entered into by two people before their marriage, to stipulate the terms and conditions for the exclusion of community of property between them.  This is also known as being married “out of community of property.” Each spouse usually retains their separate property and have complete freedom to deal with that property as they choose. If one spouse was declared insolvent, the other’s property is protected from the insolvent spouse’s creditors.

The ANC must be registered in the Governmental Deeds Office within three months from the date of signature of the contract. You can find a list of Deeds Offices online, on (www.dla.gov.za).

DID YOU KNOW?: Prenuptial agreements, antenuptial agreements, and premarital agreements are basically different names for the same type of agreement. Most commonly it is referred to as a Prenup.

happy married couple

Out of Community of Property with Accrual

Another option is to get married out of community of property with accrual. This is the fairest marriage system for the majority of couples. Hereby, each spouse retains ownership of their estates before the marriage but shares the accrued wealth acquired during the marriage.

Legal Advice

For more legal advice and help in setting up your marriage contracts, please contact any of our recommended vendors on our wedding contracts and legal companies directory.

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