A marriage IN Community of Property is the default marriage system that is applied (i.e. when you get married without an ante-nuptial contact)
When no marriage contract (or ante-nuptial contact) is signed before you get married, your marriage will automatically be IN community of property.
- Both parties share equally in each other’s assets and liabilities from before and during the marriage.
- Consent from both parties is required in varying degrees for most transactions.
- Important transactions like transfers of houses and cars, credit agreements and suretyships require written consent.
- Less important transactions like selling furniture require informal consent and agreement between the spouses.
While this form of marriage certainly promotes fairness between the parties, it comes with major disadvantages particularly with regard to liabilities/debt.
As liability/debt is shared in this form of marriage, all your spouse’s debts are also your debts; you can be sued with (or instead of) your spouse and if your spouse goes insolvent, so do you.
To get married OUT of community of property you need to sign an ante-nuptial contract (“ANC”) BEFORE you are married, click here to read more.
We recommend that you strongly consider signing an ante-nuptial contract if you are getting married.
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