Protecting assets once fairytale ends

'You must consider implications before tying the knot.'

RISKS: WHO GETS PROPERTY WHEN YOUR MARRIAGE ENDS?

Few people think of who will get the property when you just bought a house together, but it is an important aspect of your life to consider. Never say never, the saying goes and it is better to be prepared than try to come to an agreement afterwards.

"If you own or intend to buy property to live in, operate a business or as an investment, you must consider the implications before tying the knot," says Renier Kriek, managing director at Sentinel Homes.

Who keeps the property depends on the type of marriage: in community of property, out of community of property without accrual or out of community of property with accrual.

In community of property

By law, without an antenuptial agreement, South Africans are automatically considered to be married in community of property, Kriek says.