Marriage is more than just a personal commitment—it has legal and financial implications that can shape your future, influencing everything from contractual rights to property ownership. Your marital status determines how assets and debts are treated, which in turn affects your ability to apply for a home loan, own property, and take on financial commitments as a couple.
Even though South Africa’s marriage rate has declined in recent years, marriage remains a significant milestone, with over 106,000 civil marriages and more than 2,000 customary unions recorded in 2021. Most people marry in their thirties, often for the first time, yet statistics also show that 40% of marriages end in divorce within a decade.
This means that whether you are getting married, already married, or going through a divorce, your marital status will impact how you approach homeownership and bond applications. If you are considering buying a home, it is crucial to understand how different marriage contracts influence your financial responsibilities and legal rights before entering into a bond agreement.
Before you apply for a bond, here’s what you need to know.
How Different Marriage Contracts Affect Your Legal and Financial Standing
Regardless of whether your marriage involves a civil ceremony, lobola negotiations, or a religious tradition, it must be legally recognized by South Africa’s Department of Home Affairs. This ensures that the union complies with legal requirements and any marriage contracts that dictate asset ownership, financial responsibilities, and property rights. Whether you enter a civil marriage, customary marriage, or civil union as a same-sex couple, the type of marital contract you choose will directly impact your ability to apply for a home loan, purchase property, or sell real estate in the future.
There are three primary types of marriage contracts in South Africa, each with different financial and legal implications:
- Marriage in Community of Property – This is the default legal arrangement when no antenuptial contract (ANC) is signed. Under this system, spouses combine their existing and future assets, meaning any major financial decisions, including buying or selling a home, require both partners’ consent. The only exception is inherited property, which may remain solely owned by one spouse if legal restrictions prevent shared ownership.
- Marriage Out of Community of Property Without Accrual – This contract requires signing an antenuptial agreement before marriage to ensure that each spouse retains sole ownership of their assets and financial responsibilities. Property acquired before and after the marriage remains separate, and each partner is financially independent. This structure allows one spouse to apply for a bond without needing the other’s consent or financial history.
- Marriage Out of Community of Property With Accrual – In this arrangement, assets acquired before the marriage remain separate, but any property or wealth accumulated during the marriage is shared equally. If the marriage dissolves through divorce or death, both partners have an equal claim to the assets accrued during the union unless otherwise specified in the contract. Property ownership during the marriage follows joint or individual ownership rules, depending on whether the home is classified as part of the joint estate.
For couples married under customary law, whether under African or Muslim traditions, the Recognition of Customary Marriages Act 120 of 1998 determines whether they can enter into an antenuptial contract. Marriages conducted before 2000 or outside of South Africa may have different legal implications regarding property ownership. If there is uncertainty, it is advisable to review the marriage certificate or contract and seek legal advice to clarify how it affects homeownership rights.
How Different Marriage Contracts Influence Your Financial Decisions
Choosing the right marital contract requires careful thought about your financial situation, future goals, and long-term security. Asking yourself the following questions can help determine which marriage contract best aligns with your needs.
Do I Want to Share Everything Equally?
Financial circumstances can change throughout a marriage. While a couple may begin with similar earnings, factors such as career progression, job loss, or family responsibilities can lead to one partner contributing more financially than the other. If one spouse takes time off work to care for children, their financial input may decrease, but their non-financial contributions to the household remain significant.
Under a marriage in community of property, both spouses legally own all assets together, regardless of who contributed more financially. This means that even if one spouse pays the full bond, the other still has equal legal ownership of the property. Couples choosing this option must be comfortable with shared financial responsibility and joint ownership of assets, debts, and liabilities.
Do I Have Pre-Existing Assets?
If you already own property, investments, or inherited assets, you may want to consider marriage out of community of property. This ensures that your personal assets remain yours, preventing potential disputes if the marriage ends.
This is particularly relevant for blended families, where one or both spouses have children from previous relationships. If you wish to preserve certain assets for your biological children, an out of community of property contract can safeguard your estate from being automatically divided between spouses.
However, if you want to share any wealth accumulated during the marriage while keeping pre-existing assets separate, a marriage contract with accrual offers a middle ground. In this arrangement, any jointly acquired assets—including property bought together—are split equally in the event of divorce or death, while individual assets from before the marriage remain protected.
Choosing the right contract depends on your financial goals, family structure, and long-term asset protection strategy. Seeking legal advice from marriage contract lawyers can help couples make an informed decision based on their specific needs.
How Marriage Affects Your Credit Score in a Bond Application
When purchasing property as a couple, a joint bond application treats both spouses as co-owners, meaning that lenders evaluate their combined financial background before approving the loan. This assessment influences bond approval, interest rates, and repayment terms.
Although multiple factors determine loan eligibility, individual credit scores play a significant role in assessing financial risk. While there is no universal “perfect” score, a large difference between one spouse’s credit rating and the other’s can raise concerns for lenders. If one applicant has a poor credit history, it could lead to delays, higher interest rates, or even rejection of the application.
To avoid setbacks, it is advisable for couples to review both credit reports in advance and take steps to address any potential issues before applying for a home loan.
Aucamp Attorneys – Marriage Contract Lawyers
Your marriage contract isn’t just a legal formality—it shapes your financial future, property ownership, and debt liability. Whether you’re buying a home together, applying for a bond, or protecting your personal assets, the right contract ensures that both partners enter the process with clarity and security.
At Aucamp Attorneys, we help couples structure marriage contracts that align with their financial goals, offering guidance on joint property ownership, antenuptial agreements, and legal protections. If you’re considering purchasing property or updating your marriage contract, getting the right legal advice now can prevent complications down the line.