Spouses and future spouses can choose the marital status that suits them in a marriage contract. A matrimonial regime governs the management of the spouses` property during the marriage and at the end of the marriage, for example if the spouses divorce or if one of them dies. In a marriage contract, the spouses and future spouses can choose their marital status, indicate who receives the property after the death of one of the spouses and provide for gifts to one of the spouses or to the children. To ensure that your creditors are informed of your intention to amend your marriage contract, you must publish a notice to creditors in two local newspapers (one English and one Afrikaans) as well as in an Official Gazette, and these notices must be published at least 14 days before your application is heard. You must also send notices by registered mail to your respective creditors. Due to this requirement, the process can take up to three months. Article 21(1) of the Law on Matrimonial Property provides that a husband and wife may jointly apply before a court for permission to change the matrimonial property regime applicable to their marriage. In order for the parties to be able to change their matrimonial system, the law mentions the following requirements: if they do not do so, they are automatically married in community of property. Of course, many people are not aware of this provision and should be able to convince the court that it should change their matrimonial regime if it was their express intention that they intended to be married outside the community of property. The marriage contract, signed by the future spouses before the celebration of the union, allows them to define in advance what the financial situation of the spouses during the marriage, the fate of the property and the benefits granted to the spouses will look like. Spouses can use a prenuptial agreement to make donations after their death, but only to the other spouse or children.

A marriage contract is therefore more limited than a will, because anyone can inherit under a will. A marriage contract thus protects the spouse and his children in the event of the death of one of the spouses. Many couples who are unaware of the implications of marriage in the union of property choose to marry without a prenuptial contract. Often, it is only during marriage that couples become aware of the shortcomings of a community of property. Spouses and intended spouses may provide gifts to the other spouse or children in a marriage contract, although this is not very common. Spouses may enter into a marriage contract to choose a marital status such as separation of property or to create a regime that meets their special needs, provided that it does not violate the law. Spouses may also sign a marriage contract after their marriage; it will enter into force on the day they sign it. For example, if the purpose of the contract is to change the matrimonial regime of the spouses, the matrimonial regime that was in force from the day of their marriage until the date of signature of the marriage contract ends. Therefore, the property that the spouses acquired before the signing of the contract may have to be divided or divided. You can contact a notary to find out more about the consequences of signing a marriage contract after your marriage. In a community of property, you and your spouse are jointly liable for each other`s debts, including debts you incurred before the marriage. Since you are sharing a joint estate, also remember that your spouse has the ability to bind the joint estate through his or her actions.

While you are married in community of property, you and your spouse remain jointly and severally liable for all debts in the estate, and creditors can sue the joint estate to recover what they are entitled to. If you change your contract to an extra-communal marriage, this is no longer the case. Marriage means committing to each other. At the town hall (the marriage registry office), which stipulates that the spouses must be faithful and provide mutual help and support, the status of spouse determines the rules that apply to the relations between the spouses. Although you now have separate estates as opposed to joint estates, it is still possible to have a common financial plan, and in fact, it is advisable. Your financial advisor should be able to modify your financial plan, including your estate plan, based on your new marriage contract. Since this procedure requires an application to the High Court, note that depending on the complexity of the case, it can cost between R15,000 and R30,000 in attorneys` fees, keeping in mind that you and your spouse must agree on an asset division when drafting your post-marriage contract. For example, if you and your spouse own permanent property, you must have title to the property confirmed under section 45bis.

In addition, it is important that you and your spouse fully understand what it means to be married outside the condominium community and how it will affect your finances, especially if your marriage dissolves due to death or divorce. Nothing is in community ownership. This spouse makes the difference between what each one owns. All property owned before or after marriage remains the property of the husband, as well as his salary or income from his property. Fortunately, our law provides that couples can change their marriage contract after the wedding date, although the process can be long and expensive. However, for couples who are married in a community of property, it is important to know that there is a way to change their prenuptial agreement if they choose to do so. In this article, we`ll explore the process of changing your prenuptial agreement and the impact it has on your financial planning. A marriage contract may also include a "conventional appointment" or "surviving spouse" clause. In other words, the property of the dying spouse goes first to the spouse who is still alive.

It is an alternative to a will. (a) the proposed amendment must be justified; Under South African law, parties who wish to marry from a community of property must enter into a marriage contract before the end of the marriage ceremony. With regard to this legislation, a couple may apply to the High Court for permission to sign a notarial contract which, after the registration of the post-nod contract with the Deed Office, has the effect of a marriage contract regulating your new matrimonial property regime. When pursuing such an application, it is important to note that both spouses must file the application and agree that their marriage contract will be amended. One of the spouses cannot make such a request without the consent and participation of the other spouse, since the marriage contract must be signed by both parties. When preparing the High Court application, you and your spouse must make certified copies of your identity documents, marriage certificate, proof of address and income tax numbers. You must also provide information about your minor children, assets and liabilities, employment, and a complete list of all existing creditors. If you are currently married in community of property, you probably know that you and your spouse did not sign a marriage contract before the marriage. This means that you and your partner jointly hold a joint estate in equal and undivided shares, in which, with a few exceptions, all of your assets are merged into a joint estate.

Marriage in community of property is a profoundly flawed system, especially when it comes to debts, insolvency or divorce, and some couples who recognize these shortcomings choose to amend their marriage contract in accordance with the procedure set out in section 21(1) of the Matrimonial Property Act. My partner and I got married in a condominium, but we wanted to be married in a community of ownership. We want to change our marriage contract to get out of the community of ownership. We were not properly advised. Can you advise us on our next steps? In this system, the spouses therefore retain complete independence from property. However, it is possible to include in this contract a clause for the grouping of certain assets, such as . B family apartments. For the universal community, all the property held by the spouses on the date of marriage forms the property they subsequently acquire or may possess by inheritance, donation or legacy, a single community mass. Spouses may sign a marriage contract before being married; it shall enter into force on the day of the marriage. A person under the age of 18 who wants to get married will need court approval to sign a marriage contract, and the court will ask the parents for their opinion.

.