‘Love is a feeling, marriage is a contract, and relationships are work.‘ – Lori Gordon
Marriage, whilst being a sacred union of 2 individuals, is also a legally binding agreement between 2 parties that incurs certain legal obligations.
Marriage, in its most basic legal sense, is Marriage In Community Of Property. Anyone who gets married without an Ante Nuptial Contract (ANC) is automatically married In Community Of Property.
From the day of entering into an In Community Of Property marriage the estates of both parties are merged into one estate with an applicable 50/50 split of all assets and liabilities thereafter.
This also means that any legal agreement, from bond applications to cell phone contracts, need to be signed by both parties. This also means that any potential legal disasters, such as insolvency or debt, are liable to both parties.
An Ante Nuptial Contract or pre-nup as it is commonly called, allows both parties to retain any assets held before, as well as acquired during, the marriage. It is not, as often believed, something just entered as a precaution against a messy divorce, and its main goal is allow both parties to enjoy many of the legal freedoms held before marriage.