CHANGE OF MATRIMONIAL PROPERTY REGIME
Sometimes a couple will get married without entering into an ante-nuptial contract only to later realise that a marriage in community of property is not suitable to them in that it may bring with it undesirable consequences. A good example is when one of the parties wishes to start a business and wants to protect the business interest from any adverse consequences that a marriage in community of property could bring with it.
By making the appropriate High Court application under Section 21 of the Matrimonial Property Act, meeting all the requirements and the court granting such application, the matrimonial property regime will then be changed to one out of community of property in accordance with the post-nuptial agreement that forms part of the application.
In assisting clients to change their matrimonial property regimes, we make it a priority to fully understand the reasons for the required change, we prepare the application ensuring that all requirements are met which includes the necessary notification to the couple’s creditors and ensure that a post-nuptial agreement is concluded that best meets the needs of our clients.
It is recommended that deciding to change the matrimonial property regime should only be considered if it is crucially necessary, given the costs and time involved. It is far easier and more cost-effective to conclude an ante-nuptial contract before the marriage is finalised.
If you are considering changing your matrimonial property regime, please contact us to allow us to assist you.