The Process for an Ante-Nuptial Contract
Previously discussed, were the processes of getting married out of community of property specially as well as the differences, benefits and disadvantages of the various types of matrimonial regimes. The term “Ante-Nuptial Contract” (ANC) came up often, however same was not discussed in depth.
In this article, we will discuss what exactly this is and more so, the process of entering into a valid ANC;
Why an ANC?
If parties would like to marry out of community of property, the entering into of an ANC is a prerequisite. The purpose of an ANC is for parties to decide how their assets and liabilities are to be dealt with in the event that their marriage should dissolve or assets should be divided.
Any time prior to the marriage of the parties, an ANC should be signed and lodged with the Deeds Office. Usually a notary will assist in this process. The ANC should then be registered at the Deeds Office at least 2 (two) months after the marriage of the parties after being lodged.
Far too frequently, the parties fail to do this and in such a situation, the parties will be married in community of property by default. The only solution to this will then be a costly court process in terms of Section 21 of the Matrimonial Property Act.
Should you require the drafting, clarification or attendance to the entire process of an ANC, feel free to come see us to discuss the process as well as the implications of entering into an ANC. We can assist with the entire process from start to finish and make it as smooth as possible to give you one less thing to worry about before your big day.