A Matrimonial Agreement is a crucial legal document in South African family law, required when parties wish to marry out of community of property or modify their matrimonial property regime. Without this agreement, marriages in South Africa automatically default to in community of property. The agreement must be executed before the marriage and notarized, following the requirements of the Matrimonial Property Act 88 of 1984. It typically includes detailed provisions about asset division, financial responsibilities, and property rights during marriage and upon its dissolution. This document is particularly important for protecting business interests, inherited assets, and managing complex financial portfolios. The agreement must be registered in the Deeds Office to be legally effective and can significantly impact both parties' financial futures.
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1. Parties: Full details of both parties entering into the marriage, including their full names, identity numbers, and current addresses
2. Background: States the parties' intention to marry and the purpose of entering into this agreement before their marriage
3. Definitions: Defines key terms used throughout the agreement, including 'marriage', 'separate estate', 'joint estate', and other relevant terms
4. Marriage Property Regime: Clearly states whether the marriage is out of community of property with or without accrual, and the specific terms of the chosen regime
5. Separate Property: Details how separately owned property will be treated during the marriage and upon its dissolution
6. Financial Obligations: Outlines how financial responsibilities will be shared during the marriage
7. Inheritance and Donations: Specifies how inheritances and donations received by either party during the marriage will be treated
8. General Provisions: Standard clauses including amendment procedures, severability, and governing law
9. Signatures: Space for parties' signatures, witnesses, and notary's authentication
1. Accrual Calculations: Required only when the accrual system is chosen, detailing how the accrual will be calculated and what assets are excluded
2. Foreign Assets: Required when either party owns assets in other countries, specifying how these will be treated
3. Business Interests: Required when either party owns or may acquire business interests, detailing how these will be handled
4. Children's Provisions: Required when there are children from previous relationships, addressing inheritance rights and financial provisions
5. Life Insurance: Optional section dealing with life insurance policies and beneficiary designations
6. Retirement Benefits: Optional section addressing how retirement benefits and pension funds will be treated
7. Power of Attorney: Optional section granting specific powers to spouse for dealing with foreign assets or business interests
1. Schedule A - First Party's Assets: Detailed list of all assets owned by the first party at the time of marriage
2. Schedule B - Second Party's Assets: Detailed list of all assets owned by the second party at the time of marriage
3. Schedule C - First Party's Liabilities: List of all liabilities and debts of the first party at the time of marriage
4. Schedule D - Second Party's Liabilities: List of all liabilities and debts of the second party at the time of marriage
5. Schedule E - Excluded Assets: List of assets specifically excluded from the accrual calculation (if applicable)
6. Appendix 1 - Asset Valuations: Independent valuations of significant assets listed in Schedules A and B
7. Appendix 2 - Supporting Documents: Copies of title deeds, share certificates, and other relevant documentation
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