Written By: Visser Vermaak Inc.
An antenuptial contract, or ANC, is a contract signed by the couple before getting married that regulates the property regime for the marriage and determines who’s assets are who’s and what will happen to the assets upon dissolution of the marriage. When you sign an ANC, you are married out of community of property.
The contract is drafted by a notary public and then signed by the couple in the presence of the notary public, who then ensures that the contract is registered in the Deeds Office. This is usually done, at our firm, around three months in advance of the wedding day in order to ensure adequate time for the process.
So what is a property regime and why does it matter? Can’t we just get married?
The short answer is that the property regime determines ownership of assets and responsibility for debts. This is important because the default position under South African law is “married in community of property” – which is the case when you are married without a contract. This means that both you and your partner are now co-owners of all assets and jointly responsible for any debts.
Does signing an antenuptial contract mean that my partner and I don’t trust each other?
No, not at all! What it means is that you and your partner understand that it is important to protect your partner from debts they did not incur and to prevent insolvency for the both of you in the event that one person’s estate becomes insolvent.
Love is safety. Provide safety for each other by keeping your estates separate.
For more information, visit our website at www.visservermaak.co.za or contact us at info@visservermaak.co.za
