How are assets divided in a divorce in South Africa?
How are assets divided in a divorce in South Africa?
Upon divorce, the assets of the joint estate as at the date of divorce will be divided equally between the parties, unless a spouse claims forfeiture and the court grants such a forfeiture order. A forfeiture order cannot be granted automatically and must be specifically requested in the summons.
What does equitable distribution mean in a divorce?
Equitable distribution is a legal theory whereby marital property is distributed equitably in a divorce proceeding. Property assets are classified as either separate property or marital property. Most US states follow the equitable distribution theory.
How are assets and liabilities divided in a divorce?
When you get divorced, community property is generally divided equally between the spouses, while each spouse gets to keep his or her separate property. Equitable distribution: In all other states, assets and earnings accumulated during marriages are divided equitably (fairly) but not necessarily equally.
How long do you have to be married to split 50 50?
After the first day of marriage, all property is marital property and may be divided 50/50. There is no minimum length of marriage that will guarantee a 50/50 division of anything.
