A Mid Nuptial Agreement is utilized in South Africa when married couples wish to change their matrimonial property regime after marriage. This document becomes necessary when spouses realize their current matrimonial property system no longer serves their interests or when circumstances change significantly. The agreement must comply with the Matrimonial Property Act 88 of 1984 and requires court approval to be valid. It includes comprehensive details about assets, liabilities, and the proposed new property regime, along with full financial disclosures from both parties. The document must be prepared by qualified legal professionals, notarized, and registered in the Deeds Office. It's particularly important for protecting business interests, inheritance, and managing complex financial arrangements within the marriage.
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1. Parties: Full details of both spouses including their full names, identity numbers, and current residential addresses
2. Background: Details of the existing marriage, including date and location of marriage, current matrimonial property regime, and reason for entering into the mid nuptial agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Current Matrimonial Property System: Declaration of the current matrimonial property system under which the parties are married
5. Change of Matrimonial Property System: Detailed description of the new matrimonial property system being adopted
6. Division of Assets and Liabilities: Clear specification of how existing assets and liabilities will be treated under the new regime
7. Rights and Obligations: Outline of the parties' rights and obligations under the new matrimonial property system
8. Registration Requirements: Provisions regarding the registration of the agreement at the Deeds Office
9. Costs: Allocation of costs related to the preparation and registration of the agreement
10. General Provisions: Standard contractual provisions including governing law, entire agreement, and amendments
11. Signatures: Execution clause and space for signatures, including witnesses
1. Accrual Provisions: Detailed provisions regarding the accrual system if the parties are choosing to adopt or modify an accrual system
2. Business Interests: Specific provisions dealing with existing or future business interests of either party
3. Inheritance and Donations: Special provisions regarding inherited assets or future inheritances
4. Property Exclusions: List of specific assets to be excluded from the community of property or accrual calculation
5. Maintenance Obligations: Provisions regarding maintenance obligations between spouses
6. Foreign Assets: Specific provisions dealing with assets held in other countries
7. Death Benefits: Provisions regarding life insurance policies and death benefits
1. Schedule A - Asset Register: Comprehensive list of all assets owned by both parties at the time of the agreement
2. Schedule B - Liability Register: List of all liabilities and debts of both parties at the time of the agreement
3. Schedule C - Financial Disclosure: Detailed financial statements of both parties
4. Schedule D - Excluded Assets: List of assets specifically excluded from the community of property or accrual calculation
5. Schedule E - Business Valuations: Independent valuations of any business interests owned by either party
6. Appendix 1 - Marriage Certificate: Copy of the parties' marriage certificate
7. Appendix 2 - Supporting Documents: Copies of relevant supporting documents such as property titles or share certificates
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