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96<br />

deed of donation that <strong>the</strong> sewing machine must be excluded from Jacob<br />

and Marian's joint estate. The deed of donation does not contain any<br />

fur<strong>the</strong>r stipulations. Marian, who cannot do needlework, exchanges <strong>the</strong><br />

sewing machine for a painting at a swop shop. Both Jacob's parents die in<br />

a car accident. Jacob's fa<strong>the</strong>r leaves a will in which he bequea<strong>the</strong>s his farm<br />

and farmhouse, trac<strong>to</strong>r and cow <strong>to</strong> Jacob. The will fur<strong>the</strong>r stipulates that<br />

<strong>the</strong>se assets are <strong>to</strong> be excluded from Jacob and Marian's joint estate. The<br />

will does not contain any fur<strong>the</strong>r stipulations. According <strong>to</strong> Jacob's<br />

mo<strong>the</strong>r's will she bequea<strong>the</strong>s R1 000 <strong>to</strong> Jacob. According <strong>to</strong> her will this<br />

bequest, as well as <strong>the</strong> fruits of <strong>the</strong> bequest, should be excluded from Jacob<br />

and Marian's joint estate. Jacob later decides <strong>to</strong> exchange <strong>the</strong> trac<strong>to</strong>r for a<br />

plough. He uses R500 of <strong>the</strong> R1 000, he inherited from his mo<strong>the</strong>r, <strong>to</strong><br />

erect a barn for <strong>the</strong> calf recently born of <strong>the</strong> cow he inherited from his<br />

fa<strong>the</strong>r. Jacob deposits <strong>the</strong> remaining half of <strong>the</strong> R1 000 (ie R500) in<strong>to</strong> his<br />

savings account.<br />

Read carefully through <strong>the</strong> above-mentioned facts and <strong>the</strong>n answer <strong>the</strong><br />

following questions:<br />

(1) <strong>Name</strong> <strong>the</strong> assets which replaced <strong>the</strong> excluded assets (excluded assets<br />

are <strong>the</strong> assets excluded from <strong>the</strong> joint estate).<br />

(2) <strong>Name</strong> <strong>the</strong> assets which are <strong>the</strong> fruits of <strong>the</strong> excluded assets.<br />

(3) Complete <strong>the</strong> table below by making a tick (V) in column B in order<br />

<strong>to</strong> indicate which assets fall within and which assets fall outside Jacob<br />

and Marian's joint estate.<br />

COLUMN A COLUMN B<br />

Assets Fall within <strong>the</strong> joint<br />

estate<br />

(a) Painting<br />

(b) Farm and farmhouse<br />

(c) Plough<br />

(d) Cow<br />

(e) Calf<br />

(f) The remaining R500<br />

(g) Interest on R500 Ð<br />

in terms of <strong>the</strong> prescribed<br />

interest rate<br />

(h) Barn<br />

FEEDBACK<br />

Fall outside <strong>the</strong> joint<br />

estate<br />

(1) The sewing machine, which was donated <strong>to</strong> Marian and which falls<br />

outside <strong>the</strong> joint estate of Jacob and Marian (in terms of <strong>the</strong> deed of<br />

donation), is exchanged at <strong>the</strong> swop shop for a painting. Jacob uses<br />

half of <strong>the</strong> R1 000 (ie R500), which he inherited and which falls<br />

outside <strong>the</strong> spouses' joint estate (in terms of <strong>the</strong> will) <strong>to</strong> erect a barn.

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