Division of the Joint Estate

01 September 2022 ,  Puleng Valentine Tladi 1581
  1. DURING THE DIVORCE PROCEEDINGS WHERE PARTIES ARE MARRIED IN COMMUNITY OF PROPEERTY HOW WILL THE ASSETS BE SHARED BETWEEN THE PARTIES?

     

    • The assets can be shared equally between the parties;

     

    • The parties can reach a settlement regarding the division of the joint estate; or

     

    • If parties cannot reach a settlement then a Third party, namely a liquidator will be appointed to divide the assets on the parties behalf.

     

    • The Court can also grant an order against either one of the parties to forfeit any of the benefits arising from the marriage in community of property, however, a lot of factors will be taken into consideration.

     

     

  2. WHAT FORMS PART OF THE JOINT ESTATE

     

    • Everything that you owned before or after marriage forms part of the joint estate including
    • Debts created before or after marriage forms part of the joint estate.
    • Pension or Retirement fund benefits forms part of the joint estate.

       

  3. WHEN CAN A NON-MEMBER SPOUSE BE ENTITLED TO CLAIM FROM THE OTHER MEMBER SPOUSE’S PENSION?

     

    • As soon thereafter the divorce has been granted and you do not have to wait for death or for the member to die.

       

  4. HOW MUCH OF THE MEMBER SPOUSE’S PENSION CAN THE NON-MEMBER SPOUSE CLAIM?

     

    • Fifty percent of the pension interest calculated
    • From date that member joined the said pension fund, or
    • From date of marriage

    Until date of separation or date of divorce.

  5. HOW LONG DOES IT TAKE FOR THE NON-MEMBER’S PENSION CLAIM TO PAY OUT?

It can take up to two months, six months and some close to a year. Depending on the said fund and whether or not you have submitted the relevant documentation required.

 

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