Understanding Asset Division Under South African Divorce Law

Conflicts around assets can become some of the most heated amid the already stressful divorce process. Nobody gets married thinking that divorce will be on the cards, let alone thinking about how their assets will be divided in light of the dissolution of the marriage. The division of assets during a divorce will usually be determined in your pre-matrimonial legal agreement. While parties can agree to divorce terms and asset division together, asset division will usually depend on whether parties were married in community of property or not.

Stipulations of the Pre-matrimonial Legal Agreement Under South African Divorce

The division of assets will mainly depend on how a couple was married. Let’s explore both options in more detail.

• Married in community of property: When couples get married in community of property, anything they owned before the divorce, as well as anything they accrued together throughout the marriage, becomes a part of their joint estate. During a divorce, all accumulated and pre-owned assets and liabilities will be divided equally.
• Married out of community of property: If parties are married out of community of property, then each party is responsible for their own estate, liabilities, and any monetary gains. Couples can get married out of community of property as it is (and thus, all future earnings and assets will also be separate) or out of community of property with accrual. This stipulates that any gains, losses, or liabilities prior to marriage remain in separate estates, but any acquisitions during the marriage are shared.

If couples get married out of community of property but with an accrual system in place, an anti-nuptial agreement must be signed. This will largely determine how assets are divided. Nonetheless, if during the divorce process, one party is spending recklessly or significant issues arise, applicants can appeal to the court. In such an instance, it is always best to contact a qualified divorce attorney to help you navigate the legal complexities.

Contact Riëtte Oosthuizen Attorneys to Discuss the Division of Assets

If you are struggling to divide assets in an equitable and agreed-upon manner, then it might be time to consult legal professionals. Divorce lawyers comprehensively understand South African divorce law and the complexities of dividing property and assets. Our team will work alongside you with professionalism and legal insight to achieve the best possible outcome. For more information, send us a message, and we will gladly be in touch about the next steps ahead.