“What is mine is yours, and what is yours is mine”
From date of marriage, you and your spouse will only have one joint estate and will share all assets and all liabilities.
In the pictures below, A has R10 000 and B has R8 000. Once they are married, A and B are joint owners of R18 000-00. If B borrow money from anybody, A will also be liable to repay the loan. At the end of the marriage, all assets and debts are divided equally between A and B.
- No ANTENUPTIAL AGREEMENT is needed.
- Both spouses must sign legal contracts (such as selling, buying or mortgaging of property or signing surety).
- Should one of the spouses get sequestrated, the JOINT estate is sold to pay the debt.
- You can still have your own separate Will. You will only be able to leave your half of the joint estate to your heirs.
- The joint estate is divided equally between the spouses in event of death or divorce.