My Wife Overspends

I am married in community of property. We have a house and cars, but we lead a modest life. However, over the last few years my wife has developed an expensive taste. She has changed the lounge suite for expensive couches. Creditors phone from time to time about debts she has taken without me knowing. She doesn’t know when to stop. Are these agreements she enters into, without my knowledge, valid and binding?
CONCERNED HUSBAND, KZN

 

Answer

One does not need a spouse’s consent for every transaction entered into. It becomes a problem where the spouse is unable to manage finances as any transaction they enter into binds the joint estate. However, the law states that a spouse cannot sell or buy immovable property without the consent of the other. Seek professional help for your wife before she gets further in debt.

 

Get move advice in the 20 May 2015 Move! issue out in stores now.

 

Subscribe now and get a 30% discount on SA’s most-loved women’s magazine, delivered digitally to your PC, tablet or any other mobile device for only R31 a month or R374.85 per annum!

 

To subscribe, visit http://bit.ly/1MwNzRQ.