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Is Signatures Of Both Spouses Necessary When Selling Property?

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Is Signatures Of Both Spouses Necessary When Selling Property?

In the instance where a person is married in community of property and he/she wishes to sell the family home, the Matrimonial Property Act has certain provisions which must be complied with in order to make the sale of the home a valid one. 

In short, the requirement is that John must obtain the written consent from his wife Jane before he signs the Offer to Purchase delivered to John’s office by his friendly neighbourhood estate agent, Pete. The intention is to protect the one spouse from the other to avoid the sale of the most important asset in the joint estate and the squandering of the proceeds with the result that the happy couple might end on the street and not so happy anymore. 

The prior written consent need not be complied with if the couple act jointly and both sign to accept the offer delivered to them by Pete.

Source – Andre Olivier Attorneys

 

Author Andre Olivier Attorneys
Published 05 May 2016 / Views -
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