Everything That Needs To Be Covered In Your Marriage Contract
Where to get a marriage contract
When deciding on a suitable marriage regime, attorneys dealing with prenuptial agreement need to explain the legalities of the different marital regimes, comprising a marriage in community of property, out of community with the accrual and out of community without the accrual.
Marriage in Community of Property
A marriage is deemed in community of property in the absence of a prenuptial agreement. To better understand how, why, when and where to get a marriage contract you will need help from the marriage contract experts.
A marriage in community of property is not advisable, as the parties share the assets and liabilities in a communal estate, therefore increasing the financial risk for the parties involved in a marriage in community of property.
Parties in a communal estate are entitled to share in the inheritance, as received by the other party, in the absence of will stipulating that the assets are protected from the communal estate. Apart from the inheritance risk, the parties share in all assets, irrespective of whether the assets were accumulated prior to the date of marriage.
Parties to a marriage in community of property have limited legal capacity to act and to enter into contracts of any kind. This is detrimental to the parties as they cannot freely bind the communal estate without the consent of the other party. The exception to this is where a party act in a professional capacity.
Consent has to be obtained by way of written consent from one party to the other.
If you are wondering where to get a marriage contract in Pretoria, look no further than Engelbrecht Attorneys at Law. Contact us to process your marriage contract as well as any of your additional contractual needs.