What documentation is needed for buying a property in South Africa?
You’ve scoured the web for what feels like weeks, and you’ve finally found your dream home! You’ve put in your offer, and it’s been accepted. But before you can pack your boxes and move into your dream home, there are certain requirements needed when buying a home in South Africa. Property sales are usually handled […]
The basics of creating a Last Will & Testament
Who your property is passed on to depends on whether you have a valid will or not. If you do have a valid will, then your property will be divided according to your wishes stated therein. If you die without a will (called “intestate”), then your property will be divided amongst your immediate family according […]
The current state of the rental market
While restaurants, shopping malls and beaches may look somewhat similar to what they did before the pandemic, nevermind lockdown regulations and social distancing protocols, the real estate rental market has not recovered quite as well as the consumer market. Studies conducted by the TPN Credit Bureau have indicated that, at the start of the hard lockdown of 2020, only half of short-term credit accounts were paid in “current” terms. […]
Non-resident sellers of immovable property
Section 35A of the Income Tax Act[1] came into effect on 1 September 2007 and sets out the capital gains tax consequences of the sale of immovable property situated in South Africa in instances where the seller is not a South African tax resident. In terms of these provisions, the purchaser of the immovable property is […]