An antenuptial contract, commonly referred to as a prenuptial agreement, is a legal document entered into by two individuals before they get married. In South Africa, antenuptial contracts are governed by the Matrimonial Property Act of 1984.
The purpose of an antenuptial contract is to govern the way in which the couple`s assets will be distributed in the event of a divorce or the death of one of the parties. Without an antenuptial contract, the couple`s property is automatically subject to the laws of the country, which may result in an unequal distribution of assets.
In South Africa, there are two types of antenuptial contracts: with accrual and without accrual. An antenuptial contract with accrual means that the couple agrees to share the assets acquired during the marriage equally, while an antenuptial contract without accrual means that each party retains their own assets accumulated before and during the marriage.
An antenuptial contract must be entered into before the wedding ceremony and must be signed by both parties and two witnesses. It must also be registered at the Deeds Office within three months of the signing.
It is important to note that an antenuptial contract cannot be used to evade responsibility for any debts incurred during the marriage. In addition, an antenuptial contract cannot be used to prevent a spouse from making a claim for maintenance or child support.
An antenuptial contract is a useful tool for couples who wish to protect their assets and ensure a fair distribution in the event of a divorce or death. It is important to consult with a lawyer experienced in family law to ensure that the antenuptial contract is legal and enforceable.
In conclusion, an antenuptial contract is a legal document entered into by two individuals before they get married, which governs the distribution of their assets in the event of a divorce or death. In South Africa, there are two types of antenuptial contracts, with and without accrual. It is important to consult with a lawyer experienced in family law to ensure that the antenuptial contract is legally binding and enforceable.