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Community property (United States) also called community of property (South Africa) is a marital property regime whereby property acquired during a marriage is considered to be owned by both spouses and subject to division between them in the event of divorce. Conversely, property owned by one spouse before the marriage, along with gifts and ...
Under a community property regime, depending on the jurisdiction, property owned by one spouse before marriage, and gifts and inheritances received during marriage, are treated as that spouse's separate property in the event of divorce. All other property acquired during the marriage is treated as community property and is subject to division ...
Matrimonial regimes, or marital property systems, are systems of property ownership between spouses providing for the creation or absence of a marital estate and if created, what properties are included in that estate, how and by whom it is managed, and how it will be divided and inherited at the end of the marriage.
In addition, community-property states frequently have forms of ownership that allow a full basis step-up on one's own share of community property on the death of a spouse (in addition to the normal step-up on spouse's assets).
There are several marital property regimes which can apply to a marriage in South Africa. By default, if a couple does not sign an antenuptial contract before the marriage, they are married in community of property, which means that all of their assets and liabilities (even those acquired before the marriage) are merged into a joint estate, in which each spouse has an undivided half-share.
The marital power derives from Germanic sources of the Roman-Dutch law, from which many features derive from (provincial) Roman law. In the earlier Roman law, a wife moved from the manus (guardianship) of her father to that of the father of her husband, an older brother of her husband or her husband; the "pater familias" or master of all persons and owner of all property in a familia.
In South Africa, a civil marriage or civil union is, by default, a marriage in a community of property.To marry out of the community of property, the parties must sign an antenuptial contract in the presence of a notary public before their marriage and the contract must be registered in the Deeds Office within three months from the date of signature of the contract.
Marriage, also called matrimony or wedlock, is a culturally and often legally recognised union between people called spouses.It establishes rights and obligations between them, as well as between them and their children (if any), and between them and their in-laws. [1]