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Antenuptial Contracts Cape Town

An ante-nuptial contract (“ANC”) is a contract that is entered into between husband and wife before the conclusion of their marriage. The purpose of an ANC is to regulate the financial consequences of marriage. It can and should determine how the assets and liabilities will be distributed upon divorce or death of one of the parties.

Having an ANC will provide you and your partner with more freedom/choice in deciding upon your marital regime. The only restrictions are that the provisions you incorporate do not go against the law, good morals or the nature of marriage.

An ANC needs to be executed by a notary public and registered within three months from the date on which it was signed. The ANC will be registered at the Deeds offices in the area in which you and your partner are resident. If the ANC has not been registered within the specified time, the parties can approach the High Court in order to accept the late filing thereof. This application must be made within a reasonable time after finding out your ANC was not registered within the specified time.

There are two types of ANC that couples can enter into:

1.     Marriage out of community of property with the accrual system

The parties will provide a nominal value for what each of their estate is worth and that they retain their assets and liabilities before the conclusion of their marriage. Whatever is accumulated, whether assets or liabilities, after the conclusion of their marriage is then shared in equal portions.

2.     Marriage out of community of property with the exclusion of the accrual system

The parties retain each of their own assets and liabilities before and after the conclusion of their marriage. Parties are able to make exceptions to this, but it must be specified in the ANC.

Bailey Haynes Inc. – Divorce Lawyers in Cape Town

Contact our divorce lawyers in Cape Town for expert legal advice and assistance with your antenuptial contract and its registration. 

 

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