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Online Marriage Contracts
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Please take time to read through the following information regarding marriage contracts. Familiarize yourself with the three different types of marriage contracts. If you still feel unsure don't hesitate to contact us before making your decision.
1. What is a marriage contract?
Marriage is a loving commitment, but it’s built on a business contract, whichever way you play it, so don’t let your heart rule your head. We examine the contract options that couples should consider.
Getting married is a thrilling and emotional event, but that shouldn’t stop you from taking time out to ensure your lifelong partnership is based on a solid and sensible foundation.
That means recognising, before you take the leap into the unknown, that marriage is not only a union of love, but also a contract. And that you are not being crass or showing bad faith if you insist your partnership – whether you are married or living together – is formally structured and legally sound. It is in your interests and those of your partner.
There are three marriage contracts to consider: marriage in community of property, out of community of property; and out of community of property with accrual (also called an antenuptial contract or ANC).
In community of property
This is the original marriage contract brought to South Africa from Europe. Until quite recently, this form of marriage condemned women financially to the status of a child. Although it is not quite so bad today, a woman still needs her husband’s permission to undertake any number of financial transactions.
Being married in community of property means that you are equal owners of everything in the relationship – and this means what you owe, as well as what you own. So if your partner runs up a debt you are equally responsible for it. Any assets you and your spouse bring to the relationship are pooled too.
One of the major flaws of this marriage arrangement is that if one spouse runs into financial problems the assets held by the other spouse are vulnerable to seizure by a creditor.
In divorce, your assets are divided, but obviously this is not compulsory. It is the norm to enter into a divorce settlement, confirmed by the divorce court, that deals with the division of assets and future income.
Registered customary marriages are considered to be marriages in community of property. Couples who don't not sign an Antenuptial contract are automatically married in community of property and don't need to use our service.
Out of community of property (ANC)
You marry "out of community of property" by signing what is called an antenuptial contract or ANC.
In simple terms, marriage out of community of property means what’s hers is hers and what’s his is his. Women can enter into financial contracts without consulting their spouses. In effect, the financial affairs of the partners are completely separate, with each partner responsible for his or her own assets.
If the marriage breaks up, technically each partner is entitled to the assets that are in his or her name only. But, once again, the courts will expect a fair settlement, particularly if there are dependants involved.
The major problem with this contract tends to arise when assets have to be divided between a working and a non-working spouse, since all assets are likely to be in the name of the partner earning the money.
A major advantage of this contract, however, is that people entering marriage with substantial assets can protect those assets by keeping them in their name. If the less well-off spouse gets into debt, creditors cannot claim repayment from the wealthier partner.
The contract does not prevent one partner giving assets to another partner. Although you are taxed separately, spouses can give and receive gifts to and from each other without any tax consequences. So the partner staying home to care for the children should insist that a fair share of assets are registered in her (or his) name. This is particularly important if, for example, the husband runs his own business and the wife stays at home. Then assets such as the home and the furnishings should be in the wife’s name, so that they are not at risk if the business fails.
Out of community of property with accrual
Before 1984, all ANC marriage contracts were without accrual. In 1984 the Matrimonial Property Act was passed, which introduced the accrual system with the objective of getting rid of the inequalities that existed under the ANC system. The accrual (which means growth) option is, in many ways, a combination of marriage in and out of community of property.
In brief, the assets brought into wedded bliss remain separate and women have the freedom to conduct their own financial affairs, yet the partners share all assets acquired during the marriage.
Although creditors cannot claim against one partner for the other partner’s debt, there could be debt consequences if the marriage dissolves. If you break up, both what you owe and what you own is divided (from the date of marriage). So if you or your partner run up high debts, you will both have to shoulder the load when you get divorced.
Marriage without a contract
If you do not draw up a marriage contract, or you are in a customary marriage, you are considered to be married in community of property. You can, however, contract after marriage by means of a so-called post-nuptial contract. But be warned: the process is a lot more expensive and complicated than having an antenuptial contract signed before you are married.
2. How does it work?
Step 1 - after reading through the info on this page and/or consulting with us decide on your type of marriage contract.
Step 2 - simply complete the form below and submit.
Step 3 - pay the R1 200 online via credit card on the site or any other means you wish.
Step 4 - Fax us copies of the ID's of the bride and groom to be (as well as divorce certificates - if applicable).
Step 5 - You will receive a power of attorney and a draft contract by ways of an email from us, which both partners must sign and post back to us.
Step 6 - As soon as we have received the original signed Power of Attorney a draft contract we will e-mail you a notary letter which must be given to the marriage officer on/before the wedding date.
Step 7 - We will attend to the registration of the contract at the deeds office.
Please note: the marriage contract doesn't need (and rarely is) to be registered at the Deeds office before the wedding date. The signed documents must however reach us before the marriage date.
3. Additional forms/information that must be send to us after completing the form below:
1. Copy of both ID's of the groom and bride to be (This can be faxed or emailed to us).
2. Divorce certificates - if applicable (this can be faxed or e-mailed to us).
4. What is the turnaround time?
Once we have received copies of both the bride and groom to be the power of attorney and a draft contract will reach you via e-mail within 48 hours.
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This service costs R 1,200.00. This form will be added as "Online Marriage Contracts" in your basket.
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