PRIVATE PROPERTY

If property is private this means that it is not to form part of an estate division as a result of divorce or in the event of dissolution of a cohabitation relationship. You and your spouse can make property into private property by setting up a prenuptial agreement. Private property can also come about through your stating in a will that what anyone inherits from you is to constitute the latter’s private property. You can also state in a deed of gift that property is to be the gift recipient’s private property.