A practical guide for South African couples marrying out of community of property with the accrual systemIf you are marrying out of community of property with the inclusion of the accrual system, one of the most important steps in preparing your antenuptial contract is calculating your net commencement value. This figure represents the net worth of your estate at the start of your marriage and forms the baseline against which all future growth is measured. Get it wrong, and the consequences can follow you for decades. Get it right, and you have a solid foundation for a fair and enforceable contract.
A commencement value is the net value of everything you own, minus everything you owe, at the date your marriage begins. It is declared in your antenuptial contract and recorded as a rand amount. The purpose of the commencement value is to establish a financial starting point. When the marriage ends — whether by divorce or death — the accrual system compares each spouse's current net estate with their commencement value (adjusted for inflation). The difference is the accrual: the growth that occurred during the marriage. The spouse with the smaller accrual can then claim half the difference from the spouse with the larger accrual. Without an accurate commencement value, the entire accrual calculation is built on a flawed foundation.
The Supreme Court of Appeal settled a long-running legal debate in Manelis v Manelis [2025] ZASCA 55, handed down on 9 May 2025. The question was whether a commencement value declared in an antenuptial contract could later be challenged as inaccurate.
The SCA held that commencement values declared in an antenuptial contract are binding and constitute conclusive proof of the value of a spouse's estate at the start of the marriage. A spouse cannot later argue in divorce proceedings that the declared value was incorrect — unless they can attack the contract itself on recognised legal grounds such as fraud, misrepresentation, duress, or rectification. This means the figure you declare before your wedding day is, in all likelihood, the figure you will live with. There is no going back to say it was "just an estimate" or that you forgot to include certain assets.
The practical takeaway is clear: take the calculation seriously, do it thoroughly, and keep your proof.
Net Commencement Value = Total Assets − Total Liabilities
Include everything you own or have an interest in at the date of the marriage:
If you co-own assets with your partner (for example, a property with a bond in both names, or furniture purchased together), you declare only your share. If ownership is 50/50, you declare half the value of each shared asset.
Include every debt you owe:
Again, if you share a liability with your partner, include only your portion.
Subtract total liabilities from total assets. The result is your net commencement value.If your liabilities exceed your assets, your commencement value is deemed to be nil — it cannot be a negative figure.
Thandi is marrying Sipho. They co-own a house and furniture 50/50. Thandi also has personal assets and debts.
| Item | Thandi's Share |
|---|---|
| 50% of property (market value R1,200,000) | R600,000 |
| 50% of furniture and appliances (value R120,000) | R60,000 |
| Personal vehicle | R180,000 |
| Savings account | R45,000 |
| Total Assets | R885,000 |
| Less: 50% of bond (balance R800,000) | (R400,000) |
| Less: Vehicle finance | (R95,000) |
| Less: Credit card balance | (R12,000) |
| Total Liabilities | (R507,000) |
| Net Commencement Value | R378,000 |
Thandi would declare R378,000 as her commencement value in the antenuptial contract. Sipho would do his own independent calculation.
Many couples who are already living together own assets jointly — typically a property with a bond in both names, and household contents purchased together. The approach is simple:
You do not need to prepare a separate joint schedule or attach detailed asset lists to the contract. Each spouse simply includes their share in their own commencement value calculation. The contract records a single net commencement value per spouse.
When the marriage ends, your commencement value is not compared to your current estate in nominal terms. It is first adjusted for inflation using the Consumer Price Index (CPI) published by Statistics South Africa.
For example, if your commencement value was R378,000 and inflation over the duration of the marriage results in a CPI factor of 1.85, your adjusted commencement value would be R699,300. Only estate growth above that adjusted figure counts as accrual. This prevents inflation from creating a false appearance of growth and ensures the accrual calculation reflects real wealth creation during the marriage.
The CPI data is available at www.statssa.gov.za.
If you fail to declare a commencement value in the antenuptial contract — and you do not file a separate statement within six months of the marriage — your commencement value is deemed to be nil by operation of section 6(4) of the Matrimonial Property Act. This means your entire estate at the date of dissolution will be treated as accrual, regardless of what you owned before the marriage. For a spouse who enters the marriage with significant assets, this can be a devastating outcome.
At Louwrens Koen Attorneys, we draft antenuptial contracts as part of our core notarial practice. We guide you through the commencement value calculation, ensure the contract is properly drafted and executed before a notary, and register it at the Deeds Office. If you need assistance calculating your commencement value or understanding how the accrual system applies to your specific circumstances.
Louwrens Koen Attorneys
PretoriaDisclaimer: This article is intended for general information purposes and does not constitute legal advice. Every couple's circumstances are different, and you should consult an attorney before entering into an antenuptial contract.
