Estate agents commission
Selling a home is one of the biggest financial decisions a person can make and an estate agent, to whom commission will be payable, is usually involved in this process. A problem that frequently occurs in practice and which is not easy to solve is whether an agent was in fact instrumental in bringing about […]
What happens after your house has been burnt to the ground?
There are definite steps that a homeowner will need to take if he ever has the traumatic experience of having his house burnt to the ground. Over and above all the emotional and financial tension it causes in a person and his family, there will be several steps that a homeowner will need to take […]
How to change your marital status to another form of marriage contract
Section 21(1) of the Matrimonial Property Act No 88 of 1984 provides that a husband and wife may apply jointly to court for leave to change the matrimonial property system which applies to their marriage. Requirements The decision in Lourens et Uxor 1986(2) SA 291 (C) sets out guidelines that the courts follow with regard to applications in […]
Co-ownership of land
The word “co-ownership” in relation to land means that two or more persons own land simultaneously in undivided shares. A share in land does not represent, and may not be held to represent a defined portion of land. A co-owner who holds a share in land does not hold title to a defined piece of […]
Capital gains tax and the sale of a property
Capital Gains Tax was introduced on 1 October 2001. Capital Gains Tax is payable on the profit a seller makes when disposing of his property. What is meant by Capital Gain? A person’s capital gain on an asset disposed of is the amount by which the proceeds exceed the base cost of that asset. What […]
Why is the transfer of my property taking so long?
After signing a deed of sale, the purchasers often want to move into the property with great excitement and as soon as possible. When they are informed of the process involved prior to the property being transferred this may place a damper on their excitement. Coupled with this there may even be delays in the […]
The living will
Most people are familiar with a will or testament and understand the importance of having this legal declaration drafted, by which the testator nominates an executor to manage his or her estate and provide for the distribution of his or her property to beneficiaries when he or she dies. But how many people have considered […]
Road cyclists vs. motorists
The popularity of road cycling as a competitive sport and a form of transportation is on the rise. This naturally leads to major safety concerns and serious accidents among both groups of road users. Both the National Road Traffic Act[1] and the Western Cape Provincial Road Traffic Act[2] regulate the rights of and rules for […]
Fixtures and fittings
Many transfer attorneys have heard the question from a seller: “May I remove the stove or the curtain rails or the shelves or the … ?” The most common dispute that arises between a seller and a purchaser is a dispute as to what is regarded as fixtures and fittings. The simple answer is that […]
How to manage your debt
Alecia had big financial problems; she had too much debt and her expenses outweighed her income. She decided to open a new bank account into which her salary could be paid, which would ensure that she could manage her salary before her monthly debit orders went off. Alecia thought it would be a good idea […]