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The insolvency act and how it affects your spouse.

Written by  Smith Tabata Buchanan Boyes
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Did you know that the insolvency of one spouse, even in a marriage out of community of property, can affect the status of the solvent spouse? In terms of Section 21(1) of the Insolvency Act the estate of the solvent spouse will also (initially) fall under the control of the Curator.

The deeds office will register an interdict against the personal details of the solvent spouse to the effect that the Curator will first have to confirm that the solvent spouse is free to deal with his or her own estate. This can be problematic where the solvent spouse wants to sell property or purchase property in cash.

Smith Tabata Buchanan Boyes

Smith Tabata Buchanan Boyes

Smith Tabata Buchanan Boyes