POST-NUPTIAL CONTRACTS

 

Should you not execute an antenuptial contract prior to marriage, in terms of South African law, you are deemed to be married In Community of Property.

 

While you cannot execute an 'antenuptial' contract after your date of marriage, it is possible to change your matrimonial property regime from "in" to "out" of community of property by registration of a Post-nuptial Contract in terms of Section 21(1) of the Matrimonial Property Act. The effects of the contracts are the same; however, the procedure is different.

 

The procedure involves a joint application to the High Court by the husband and wife, requesting the Court to grant the parties leave to sign a Notarial Contract (having the effect of a postnuptial contract), which after registration will regulate their matrimonial property system.

 

In order for the parties to change their matrimonial property system, the Act provides the following requirements:

 

 

 

The cost of drafting and execution of the Post-nuptial contract is the same as the cost of an Antenuptial Contract. However, the High Court application is costly as it includes legal fees, notice to the Registrar of Deeds and costs of the publishing notices in two newspapers and the Government Gazette. The costs may escalate in the event that the application is opposed, and the postage costs may vary depending on the number of creditors. The costs are generally estimated as follows:

 

Fee in respect of and incidental to taking instructions; Preparing Application in terms of Section 21(1) of Act 88 of 1984; Drafting Notice of Motion, Founding Affidavit and Supporting Affidavit, and attending to issue, service and filing thereof; Attending to signature of affidavits; Drafting Notice to creditors and attending to service thereof;  Formal and non-formal attendances and all other attendances, consultations and correspondence.

 

 

 

 

 

 

R3,600.00

Postage and petties

R   230.00

Provision for S.21(1) Advertisements: local Eng newspaper

R1,500.00

Provision for S.21(1) Advertisements: local Afrik newspaper

R1,500.00

S.21(1) Advertisement: Government Gazette

R   150.00

Deeds Office Report

R   500.00

Counsel’s Fee

R   750.00

Drafting of Antenuptial Contract, attending to execution thereof before Notary Public, and attending to registration thereof in the Deeds Registry

R   560.00

Deeds Office fee

R160.00

TOTAL 

R8,950.00

 

For further information, or should you wish to instruct us, please contact us via email: info@easyanc.co.za