23/02/2024
𝗙𝗢𝗥𝗘𝗜𝗚𝗡 𝗠𝗔𝗥𝗥𝗜𝗔𝗚𝗘𝗦 𝗔𝗡𝗗 𝗦𝗔𝗟𝗘 𝗔𝗚𝗥𝗘𝗘𝗠𝗘𝗡𝗧𝗦
The matrimonial property system applicable to a foreign marriage is not determined by the laws of the country where the marriage was concluded, but by the laws of the country where the husband was domiciled (sees himself to be permanently resident) at time of conclusion of the marriage. We however deal with all persons married in terms of a foreign country’s law similar to people married in community of property.
1. Seller
Signature of the sale agreement
- The sale agreement is not a document that is lodged in the Deeds Office, therefore if the property is registered only in one spouse’s name, only such spouse must sign the agreement and the assistance of the other spouse is not needed.
- If the property is registered in both spouses’ names, both must sign the sale agreement.
Signature of the transfer documents
- Where the property is only registered in the name of one spouse, the other spouse needs to assist, by signing the Power of Attorney to pass transfer, which document is one of the documents that is lodged at the Deeds Office.
- Should the property be registered in both spouses’ names, both spouses need to assist each other on the Power of Attorney to pass transfer.
2. Purchaser
Cash purchase
- In the event that a property is purchased cash, no assistance is required from the purchaser’s spouse on any of the documents (sale agreement and transfer documents), as none of the documents that the purchaser signs are lodged at the Deeds Office.
Purchase through bond finance
- In the event that the property is purchased through bond finance, the purchaser’s spouse will have to assist on the bond documents that are lodged at the deeds office being the Power of Attorney and draft bond deed, as well as on all the documents that the bank require co-signature on.
In next week’s MC2Agent we will discuss the rules and requirements of the banks with regards to parties married in terms of foreign law.