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Make signing an annuity contract a part of your marriage plan by contacting Van Deventer and Van Deventer Incorporated today. Definition: A marriage contract, also known as prenup, prenupt, preheial contract, marriage contract, marriage contract, atenuptia contract or prenuptial contract, is a contract concluded by two people before their marriage or civil partnership to determine the conditions of exclusion from the community of property between them. Antenuptial contracts are considered the cornerstone of a successful union. It gives each spouse financial independence within the marriage. We understand that the last thing you want to consider during the pressure of wedding preparations is what happens when you get divorced, but with more than four out of 10 marriages in South Africa ending in divorce before the 10th birthday, it`s a serious issue you can`t overlook. Only a lawyer and a practicing notary can draw up a contract of assignment and take care of its execution. The lawyer/notary will guide the parties by explaining the different contracts and procedures and helping the parties to formulate the contract in such a way that it meets their specific needs. Antenuptial contracts determine the financial future of both parties after the end of the marriage. It also determines how the assets of the estate are distributed, not only after a divorce, but also after the death of a spouse. If it is without the disposition, the partners keep what belongs to them before the marriage and also keep what becomes them after the marriage. If the agreement conforms to the delimitation system, each party still retains its own estate, but the agreement determines how the growth of each partner`s estate is shared. A supply contract, also known as an ANC contract or marriage contract in South Africa, governs the terms of a marriage between future spouses.

Make an appointment now with Divorce Attorneys Cape Town to guide you through the options of antenuptial contract, answer your questions and create the agreement you think is best for you. If you enter into a marriage contract before your marriage, the disposition system automatically applies under the Matrimonial Property Act 1984, unless expressly excluded in the contract. It is possible to conclude an atenuptial contract after marriage – this is called a post-marriage contract. Parties who married before 1 November 1984 (the date of entry into force of this Act) and parties who married after that date may apply to the court for a change in their matrimonial property regime within the meaning of section 21 of the Act. However, this is a much more complicated and expensive procedure, as the High Court must obtain and grant permission to register a marriage contract. provided that the parties can satisfy the court that there are valid reasons for not having concluded the contract before their marriage; all the creditors of the spouses have been sufficiently informed and no other party is affected by the proposed amendment, the court may allow them to conclude a marriage contract and register it in the office of the deed. The contract must be concluded before the marriage, and it is advisable that the parties consult a lawyer as soon as possible to ensure that they have enough time to carefully review the terms of the contract, reach an agreement on it and therefore not rush to sign the contract. The signed contract must be registered at the deed office. If it is signed in South Africa, it must be registered within 3 months of signing, and if it is signed abroad, registration must be done within 6 months of signing. Registration can take place after the marriage – it is important that the signing of the parties is made before the notary before the marriage. The concept of provision is intended to align the conditions of competition in the event of dissolution of the marriage in such a way that, if one of the parties was a housewife, she would be entitled to the property of the other parties without being liable for the debts of the other parties.

Simply put, the party that acquired the most during the marriage must share some of the assets with the other party. Only assets acquired during the marriage will be part of accrual accounting. So none of the parties should leave the marriage with less than what they married with, and everything that was built during the marriage must be divided. For couples who opt for the demarcation system, it is “let`s share our assets, but not our debts”. Once the parties are satisfied with the contract, it is signed (signed) in front of the lawyer or a notary. .