18 Mar

This article discusses the Section 6(1) statement which requires a separate declaration of the net commencement value in an antenuptial contract. Under Section 6(1) of Act 88 of 1984, parties have six months from the start of their marriage to declare the net commencement value of their respective estates. If this value was not included in the antenuptial contract, the parties can execute a statement (notarially) in compliance with this section. The statement is not lodged or registered at the deeds office, but is kept by the notary in their protocol.

The reason for the separate statement is that some individuals do not wish to disclose their net asset value in a publicly available document. 

Author: Louwrens Koen 

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