When two persons that are about to be married enter into an Antenuptial Contract their marriage will be out of community of property.
The most common consequences of a marriage out of community of property are as follows:
- The parties will not be held liable for the debts of a spouse that such spouse may have incurred prior to the marriage;
- The parties will not be held liable for the debts of a spouse that such spouse may incur during the marriage;
- Assets may be protected, particularly if one of the spouses has a business in his or her own name. The parties may decide to register assets such as their residential property in the name of only one spouse, being the spouse with the lowest risk profile. The assets of each spouse will also be safe in the event that the other spouse is sequestrated;
- One or both spouses may have assets prior to the marriage that they want to exclude from the joint estate;
- Spouses may enter into commercial transactions without the consent of their spouse;
- Each spouse retains control over his or her assets, builds his or her own estate and is responsible for his or her own debts.