Marriage seems to be one of the stages that most people hope to live and go through.
The art of getting your better half and tieing the knot is one opportunity of a lifetime.
Someone getting married in community of property needs to understand the good and bad side of the agreement.
Image: pixabay.comSource: UGC
For this punch in of marriage to be successful, both the participants need to agree.
Hence, deciding to get married in community of property should not be forced but done willingly.
It means that the debts and all the assets before the matrimonial ceremony are shared.
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The shared assets and liabilities form a joint estate between the spouses.
How does in community of property work?
Well, once the process concludes, both the spouses have equal access to the joint estate.
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The couple has the same ownership in terms of management and disposal of use.
For certain transactions to take place, one must require consent from the other spouse.
The permission can be either written or unwritten.
Image: pixabay.comSource: UGC
The only aspect of assets that do not fall into the joint agreement is inheritance.
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Can you change from being married in community of property?
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According to family law, theMatrimonial Property Act.
88 of 1984, some activities on the joint estate require consent in different forms.
Those that do not need consent
2.
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Written consent is required
These operations involve getting the written permission of the other spouse to carry them out.
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4.
The two witnesses also co-sign the agreement.
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Furthermore, they can also apply for a matrimonial property regime depending on their circumstances.
However, this may not take place immediately when the other spouse claims a forfeiture.
It will also provide the foundation for the marriage in terms of estate usage and avoiding manipulation.
Image: pixabay.comSource: UGC
Both spouses must understand the terms and conditions for them to avoid irregularities.
She has a Bachelor of Commerce & IT from the University of Nairobi and joined Briefly.co.za in November 2019.
The writer completed a Google News Initiate Course.
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you could email her at perisrodah254@gmail.com.
