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Wedding Plans? Pay Attention to the Consequences for your Owner-occupied Home

Under the Limited community of property law, you marry in limited community of property. This implies that the property and income acquired and accrued during the marriage must be shared and that premarital assets and debts remain separate, as are gifts and inheritances obtained during the marriage. What does this mean for your owner-occupied home?

The owner-occupied home belongs to a limited community of property

As a result of this new legislation, which has been in force since 1 January 2018, there will no longer be one estate after marriage, but three: your private and your partner’s assets and the joint assets that belong to the limited community of property. However, many couples already lived together in a home they bought before they got married. When the ownership ratio in which they bought the house deviates from the ratio 50-50, the new legislation will have consequences. Suppose you bought the house at the time in the ratio 80-20, then from the date of marriage the house belongs to the limited community of property, in which both spouses are each entitled to half.

Prenuptial agreements offer a solution

It is of course not just that the house was bought in a different ownership relationship at the time. The above consequence will therefore be undesirable in many situations. You can arrange it differently by drawing up a prenuptial agreement prior to the marriage.

Knowing more?

Do you have any questions or would you like to know more about drawing up a prenuptial agreement? Please contact Chaterfinance, via telephone number 070-7522837 or send an email to info@chaterfinance.nl