Transfer duty. No surprises. Part I
Transfer duty is a duty levied for the benefit of the National Revenue Fund on the value of any property acquired by any person by way of a transaction or in any other way, or on the amount by which the value of any property is enhanced by the renunciation of an interest or restriction […]
Another walk through the deeds office
The deeds office is a vastly complex and daunting system to master. It takes Conveyancers years to fully understand not only the process of conveyancing but also the internal workings of the Office. This is a brief overview of the process we as Conveyancers follow when we arrive at lodgement and beyond. Step 0: Instruction […]
The requirements and benefits of a sole mandate
What is a sole mandate? When homeowners decide to sell their property and have chosen an estate agent/agency to market their property, they will be asked to sign a sole mandate with the said estate agent/agency. A sole mandate is given to only one agency and no other. This is different from an open mandate, […]
Immediate steps following the death of a loved one
The death of a loved one is a difficult process to go through, and when the inevitable occurs, it is important to remember what happens next. The cause of death is determined under 2 categories: natural death, such as illness or heart attack, and unnatural death, such as a suicide or an accident. Natural or […]
Think twice before you take the law into your own hands
It is a well-established principle in South African law that a person may not take the law into his or her own hands. People aggrieved by the conduct of another must follow proper legal procedure in order to address their grievances and to obtain the relief they want. For instance, a landlord may not evict a non-paying tenant without a court order. It […]
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 […]
The ups and downs of property co-ownership
Property ownership is no small feat. It is one of the most reliable forms of investment and one of the biggest items that most people have on their financial “to-do” lists. Unfortunately, it is not always an easily achievable goal. Property ownership has always been a costly endeavour, and in recent years the age of […]
Buying or selling a home? Know the process
The transfer process is synonymous with building a house. The foundation must be laid and certain parts are built simultaneously in order for the process to be completed as one cannot be done without the other. There are many parties involved in a transfer process and each one has an important role to play. The […]