Why is it important to deal with collation in your will
The South Africa common law presumption of collation (collatio bonorum) is alive and well. This presumption is rooted in the belief that a testator intended that there should be equality in the distribution of his estate among his descendants (“children”). Collation is the process by which the inheritance of certain descendants (heirs)of the deceased is […]
The Property Practitioner’s Act, And You”
The Property Practitioner’s Act, 22 of 2019, came into effect on the 1st of February 2022. This act replaces the nearly 45-year-old Estate Agency Affairs Act 112 of 1976. Revolution or Evolution? While in some respects the act makes serious changes to the manner in which Estate Agents conduct their business, in many respects the […]
Why you need to beware of withholding taxes when emigrating
Many South Africans who simultaneously emigrate and cease to be South African tax residents are faced with a situation where the sale of a fixed property has not been finalised by the time they cease to be tax residents. This may result in the unintended consequence of them becoming a non-resident seller of immovable property in South Africa. In terms […]