Transfer duty – No surprises – Part 2
The Transfer Duty Act 40/1949 (“the Act”) states that transfer duty (duty) is to be levied on any property acquired by any person by way of a transaction. The Act is clear as to whom and by when the duty is to be paid. It states that the duty shall be payable by the person […]
Planning your estate as newlyweds
For newlyweds, one of the most important tasks to attend to is estate planning. The estate planning will depend on what the couple wants and what form of marriage they are in. It is therefore important to keep the following in mind when planning the years ahead together. Marriage in community of property There is […]
SPLUMA and its effect on the property industry
The Spatial planning and Land Use Management Act (SPLUMA) came into effect on 1 July 2015. The purpose of the act is to develop a more unified framework when it comes to Spatial Planning in South Africa. For many years, South Africa has suffered from a fragmented system of Spatial Planning, a holdover from the […]
The basics of Estate Duty
When a person dies, they leave behind an estate which includes everything they own. Estate Duty is payable on the estate of every person who dies and whose nett estate is in excess of R3,5 million. It is charged at the rate of 20%. Currently, SARS is responsible for collecting the Estate Duty of a deceased person. […]
Sectional titles: What is the role of the body corporate?
When it comes to sectional title schemes, there is still widespread misunderstanding of even the basics, starting with the body corporate and how it is established, as well as what its functions and powers are. This misunderstanding often gives rise to many problems and disputes in sectional title schemes which could quite easily have been […]
Can I use an electronic signature to sign my Offer to Purchase?
By: Sean Wynne — The use of Electronic Signatures in contracts is becoming more and more popular. Programs such as Adobe DC or DocuSign make the tedious job of signing off contracts much easier. However, many people may not realise that Electronic Signatures may not be used in certain situations. The Alienation of Land Act […]
What happens when you have lost your original title deed?
Before transfer of a property takes place, the original Title Deed must be provided to the Conveyancer. If the Seller has a Bond over their Property, the Bank will hold this title deed. If there is no Bond, the Seller will be obliged to provide the Title Deed. It sometimes does happen that the original […]
Life partners now qualify for intestate succession
The Constitutional Court recently confirmed the October 2020 ruling of the Western Cape High Court that section 1(1) of the Intestate Succession Act is unconstitutional in so far as it excludes life partners in a relationship intended to be permanent, as per the definition of “spouse”. The Court ordered parliament to amend two laws to […]
My neighbour’s noise is a nuisance
So it’s the third night this week you can’t sleep because your new neighbour seems to enjoy playing loud rock music with his band late at night. Normally you wouldn’t mind. However, being kept up till 2am every morning is affecting your productivity at work. You talk with your neighbour, but he doesn’t seem to […]
Immovable property ownership and spouses
INTRODUCTION When does a spouse who is entitled to receive a half share in immovable property become the owner of that half share? Does the real right in respect of half share in immovable property vest immediately upon granting of a divorce decree or does a spouse acquire personal right to claim formal transfer in […]