“Out of community of Property” commonly refers to a South African Matrimonial Property System where the estates of two individuals remain separate entities after these individuals enter into a marriage.
What does it mean to get married without accrual?
Prospective spouses have an option to choose between two different variants of this system namely either “Out of Comunity of property with the inclusion of the Accrual System” or Out of Community of Property with the exclusion of the Accrual System.
Both these systems require the conclusion and registration of an antenuptial agreement which is also sometimes referred to as a prenuptial agreement or A.N.C.
Where the accrual system is specifically excluded, neither spouse will have any claims against the estate or assets of the other even during divorce proceedings. Spouses will be entitled to manage and control their estate without any interference by the other spouse and will also be able to bequeath their assets to any person in terms of a valid last will and testament.
It should be noted that this system does not prevent any spouse from claiming maintenance from the other or his or her estate after the death of such spouse.
Creditors of one spouse will also not be able to attach and sell the assets of the other spouse to collect debts owing by such spouse.
Is this the right marriage system for you?
This Matrimonial Property System is ideally suited for professionals, business people, and spouses in similar financial positions and grants spouses the best possible financial protection afforded to them under South African law.
Experienced family attorneys will most certainly be the first to admit that marriages “out of community of property with exclusion of the accrual system” is very easily dissolved during divorce proceedings and will hardly ever lead to complicated, protracted, and expensive divorces.
We highly recommend that you consult your attorney before entering into any marriage even if you intend to get married “in community of Property”.
