Sample Text Antenutial Contract with Application of the Accrual System

ANTENUPTIAL CONTRACT

BE IT HEREBY MADE KNOWN

THAT on this (day) day of (month) in the year of Our Lord One Thousand Nine Hundred and (year) (19 ) before me, (name of Notary), Notary Public, sworn and admitted according to law and residing and practising in (city and province), Republic of South Africa, and in the presence of the subscribing witnesses, personally appeared

(name of intended husband)

Identity Number (insert number)

Unmarried

and

(name of intended wife)

Identity Number (insert number)

Unmarried

AND the Appearers declared that whereas the said (name of intended husband) and (name of intended wife) (hereinafter called “the parties”) intend to marry each other they have agreed that:

1  Notwithstanding anything to the contrary in any conflict of law rules contained and subject to the terms of this agreement the proprietary consequences of their intended marriage and the construction and interpretation of this agreement shall be governed by and regulated in accordance with the laws of the Republic of South Africa as at (date of signature of contract);

2  There shall be no community of property and no community of profit and loss between them in respect of their marriage;

3  Neither party shall be liable for any debt or obligation incurred by the other party before or during the subsistence of their intended marriage;

4  The accrual system referred to in Chapter 1 of the Matrimonial Property Act No. 88 of 1984 (“the Act”), but excluding any amendments thereof, shall apply to their intended marriage, in that:

4.1  On the dissolution of the marriage by divorce or by the death of either or both of the parties, the party whose estate shows no accrual or a smaller accrual than the estate of the other, or in the case of the death of the first-mentioned party, his or her executor, shall have a claim against the other party or his or her estate for an amount equal to one half of the difference between the accruals of the respective estates of the parties;

4.2  The abovementioned claim shall vest on the dissolution of the marriage and shall not during the subsistence of the marriage be transferable or liable to attachment or form part of the insolvent estate of either party;

4.3  The accrual of the estate of each party is the amount by which the net value of his or her estate at the dissolution of the marriage exceeds the net value of the estate at the commencement of the marriage;

4.4  Notwithstanding anything to the contrary herein contained, in determining the accrual of each party’s estate:

4.4.1  Any inheritances, legacies and donations which may accrue to either party during the subsistence of their marriage and all assets which either party may acquire by virtue of his or her possession or former possession of such inheritances, legacies or donations and income derived therefrom shall be excluded from the accrual of the estate of such party;

4.4.2  Donations by either party to the other, other than donations mortis causa, shall not be taken into account either as part of the estate of the donor or as part of the estate of the donee;

4.4.3  Any amount which shall have accrued to either party’s estate by way of damages other than damages for patrimonial loss shall be left out of account;

4.4.4  The net value of the estate of each party at the commencement of their marriage shall be calculated with due allowance for any difference in the value of money which may exist at the commencement and the dissolution of their intended marriage and for this purpose the weighted average of the consumer price index as published from time to time in the Government Gazette of the Republic of South Africa or any index published in substitution therefor shall serve as prima facie proof of any change in the value of money;

4.4.5  The accrual of the estate of a deceased party is determined before effect is given to any testamentary disposals, donations mortis causa or succession pursuant to any laws of intestacy;

4.4.6  The parties agree not to make any donations, except donations which are reasonable gifts on festive occasions to family members, without the written consent of the other party and that the value as arithmetically adjusted of any donation made without the written consent of the other party shall be added to the net value of the estate of the party who made the donation, when calculating the net values of the estates of the respective parties on dissolution of the marriage;

4.4.7  Should either party be an unrehabilitated insolvent on the dissolution of the marriage, then the accrual system as set out above shall not apply and on the dissolution of the marriage each party shall be entitled to his or her own estate and effects only;

4.4.8  The parties declare the net value of their respective estates at the commencement of their intended marriage to be:

(name of intended husband)

:    (commencement value)

(name of intended wife)

:

(commencement value)

5  In determining the accrual of the Estate of the said (name of intended husband) the value of the following assets has been excluded from the commencement value and shall be excluded from the end value of the Estate of the said (name of intended husband) ;

(Specify)

Upon which conditions and stipulations the Appearer declared that the parties respectively promise and agree to solemnize their said intended marriage, mutually promising to allow to each other the full force and effect hereof under obligation of their persons and property according to law.

SIGNED at (place) on the day, month and year first aforewritten in the presence of the subscribing witnesses and of me, the Notary.

     

As witnesses:

 

 

 

1  

 

(Signature of intended husband)

2  

 

 

(Signatures of witnesses)

 

(Signature of intended wife)

QUOD ATTESTOR

NOTARY PUBLIC



 

UA-1709631-55