Sale of Property agreements: Types of clauses
Non-refundable or Forfeiture clause Sellers are sometimes sold on the idea of including a non-refundable deposit clause in the Contract of Sale. More often than not, sellers are under the impression that they will be entitled to all of the non-refundable deposit or monies already paid to the conveyancer on account of the purchase price […]
Homeowner’s insurance for landlords
Apart from paying off a bond on a rental property, property investors/landlords are usually also paying for homeowner’s insurance. What is homeowner’s insurance? Homeowner’s insurance covers the property owner against damages to the structure of the property. This damage could be caused by flooding, fire, wind, hail or other natural causes. However, the above is […]
Who will take care of your children after your death?
The Children’s Act, 38 of 2005 (hereinafter referred to as the Children’s Act) governs the laws relating to the care, contact and the protection of children. The guiding principle, in all matters, is the best interest of the child. Section 27 of the Children’s Act states: Assignment of guardianship and care: (1) (a) A parent who […]
Matrimonial property regimes
My partner and I are getting married soon and have heard about the different matrimonial property regimes one can enter but I am not sure what the difference is and what each one entails. There are three types of matrimonial property regimes in South Africa. The three are marriage in community of property, marriage out […]