This is why YOU SHOULD NEVER GET MARRIED in Community of Property

Affiliate Links: Bring a smile to your dial with a Boodle quick loan - Fast & Easy - It only takes 2 minutes! http://tracking.affcoza.com/aff_c?off... Get Flexible Private Medical Cover from R175 pm. Episodic Health Insurance lets you choose your medical cover benefits to save on your premiums http://tracking.affcoza.com/aff_c?off... In this episode I illustrate, through different scenarios, what happens to your property in case of a Divorce or Split? Touching on the dangers of getting married in community of property. No one gets married with the intention of getting a divorced. Marriage is a sacred institution that involves spiritual, emotional, and physical closeness. In the Old Testament, we are taught, “Therefore shall a man leave his father and his mother, and shall cleave unto his wife: and they shall be one flesh” (Genesis 2:24). Married couples are meant to be unified in every possible way. However when it comes to financial aspects and legal implications of the marriage you might want to rethink how you would like to be married (type of marriage contract). One of the most devastating consequences of a marriage in community of property is that when one spouse becomes insolvent (cannot pay his/her debts), both spouses will be declared insolvent, because there is one communal estate. The disadvantages to a community of property contract will affect both spouses. For example, if a spouse is financially reckless, then a result will be that the other spouse becomes liable for those debts incurred. Also various transactions will require both spouses to give consent before being completed. Timestamps: 0:00 Intro 5:10 Scenario 1 - What should happen If the property is registered in both parties’ names, or only the husband’s name, but in terms of the divorce order the wife is entitled to the property. 7:04 Scenario 2 - If in terms of the divorce order, the property is to be sold and the parties will split the proceeds. 8:31 Scenario 3 - What if the DIVORCE ORDER is lost? 9:45 Scenario 4 - You and your husband were married out of community of property and the property was purchased by the spouse before or during the marriage. 10:12 Scenario 5 - You were married in community of property, and property was acquired before the marriage. 12:33 Scenario 6 - What will happen if the husband was married in community of property but is subsequently divorced and remarried in community of property. #marriage #propertyadvice #divorce Are you looking to save money when building a home in South Africa? Here are things you can do to save money when building your own new home. In this video, I share with you my top 6 Tips on How to Save Money Building Your Dream Home money when building a home. Join this channel to get access to perks:    / @propertywithleonard   It would mean so much to me if you subscribe to my YouTube Channel! as well as to my Motivational channel called: #LifewithLeonard    / lifewithleo.  . Thinking of SELLING/BUYING your Property? WhatsApp: 082 293 5600 leonard@africansonproperties.co.za I am also a qualified Commercial Mediator - For a Free Quote: WhatsApp: 082 293 5600 leonard@africansonproperties.co.za Affiliate links: FASTA - Short term loans: http://tracking.affcoza.com/aff_c?off... CottonOn.com - Best Online Shopping: A Place to Shop: http://tracking.affcoza.com/aff_c?off... DISCLAIMER: Please note that the information shared in this video is for educational purposes. I am not a therapist, psychologist, psychiatrist, medical professional, or financial adviser. Please note this video is not meant to discredit anyone. This video is not diagnostic and provides no individual consultation. This video is not a substitute for professional advice or self-diagnosis, we advise you to seek professional help. Permission is not granted to link or repost this video. This description contains affiliate links. While this channel may earn a minimal sum when the viewer uses these affiliate links, the viewer is in NO WAY obligated to use these links; the viewer is not charged extra for these links and, in fact, receives a discount over the regular pricing of these programs. Here are some of my previous videos: Playlist: PROPERTY BUYING ADVICE    • 7 Financial Tips for Young Adults #Propert...   PLEASE SUBSCRIBE to my channel, SHARE, and LIKE this video. Don't forget to leave your comments in the comment section below! Help me to get to my first 1000 SUBSCRIBERS! PLEASE SHARE THIS VIDEO WIDELY! #africansonproperties #selfgrowth #motivational #SouthAfricanYoutuber #inspirational #makingmoney #wealth #propertyinvestments #propertyadvice #southafricanpropertymarket #firsttimehomebuyer #buyersadvice #offertopurchase #voetstoots #realestatesouthafrica Thank you for watching. Stay blessed!