Can I change being married in community of property?
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Can I change being married in community of property?
Although by law you are not allowed execute an antenuptial contract after marriage, the good news is that it is possible to change your matrimonial property regime from in community of property to out of community of property by registration of a Postnuptial Contract by virtue of s 21(1) of the Matrimonial Property Act …
What is the difference between married in community of property and out of community of property?
In the case of marriages out of community of property without accrual, the property owned by a person prior to the marriage, as well as all property accumulated during the marriage, belongs only to that person. The same rule applies to liabilities. Each party’s debt remains his or her responsibility.
Why you shouldn’t get married in community of property?
Disadvantages of marriage in community of property You are jointly liable for each other’s debts. This is particularly problematic on insolvency. The joint administration of the estate is rather complicated. When a marriage starts to fail, it can become difficult to obtain joint consent.
What happens when you divorce out of community of property?
If the couple divorce or if one partner dies, the property will be divided in half. Out of community of property: Everything a husband and wife had before they were married remains their own. The husband or the wife can buy or sell their belongings without asking the other person.
