Question posted in the Property Law category relating to Gauteng
Question value: R 0.00
We are three siblings that own a rural property together. One of us are thinking about getting a divorce. He is married in community of property which means his wife is entitled to 50% of his portion of the land. What are our options in this case.
1. Can we subdivide the property and register a portion in her name and what would the costs be.
2. Could we loose the property if we are unable to pay her out?
Answer to the Question
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Technically, his wife will be entitled to 50% of their joint estate. So, that means that he could decide to keep the farm and his car and some cash, and she could keep their marital house, her car, the furniture, and some other cash.
As long as everything that he walks away with is 50% of the joint estate, and the same for her, it doesn't matter if he keeps this or she keeps that.
Obviously there will need to be an agreement reached.
Often, parties will say: you keep the house, and I will keep the investments and the cash.
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