Whether or not 2014 lives up to the forecasts of accelerating strength in the property market, you need to know that your sale or purchase of land will be invalid unless it complies strictly with these legal requirements – The sale must be recorded in a written agreement of sale,…
23 Jan 2014 According to Francois Venter, director at Jawitz Properties, the metropolitan areas are likely to see real property price growth compared to rural and coastal areas. Priced at R1.675 million, this three bedroom home in Wellington has picturesque views of the Boland mountains and vineyards, an open plan living area with…
12 September 2013 The Department of Trade and Industry (“DTI”) and the National Credit Regulator (“NCR”) have made a proposal to the Cabinet for a credit information amnesty, which is to be put into place by the end of October 2013. This credit amnesty will have the effect of removing…
Tax crime is manifested in many forms. Here are some prime examples: People don’t declare income in order to not pay the tax on that income. People lie about their expenses to reduce the tax they pay. For example they may lie about their business mileage, business expenses or even…
30 May 2013 EXPLANATORY MEMORANDUM ON THE PROPERTY VALUATION BILL 2013 BACKGROUND A central feature of the land redistribution and land restitution programme has been the acquisition of land on the basis of the ‘willing buyer willing seller (i.e. demand— driven and market —based) model, predominantly based upon the historical…
Ekurhuleni valuation deadline extended The deadline for inspection and lodging of objections to the valuation roll has been extended, and property owners now have until 17 May 2013, to do the aforementioned, according to the Ekurhuleni Metropolitan Municipality (EMM). The closing date of the public inspection period for the valuation…
First a conveyancing scam alert Bad news! After going quiet for a short time, the scamsters are now back and operating in various jurisdictions. Please warn your conveyancing staff not to allow the seller to change the details of the bank into which the proceeds of the sale must be paid….
Destruction or damage SECTIONAL TITLE There are three instances when a building (or buildings) is deemed to be destroyed, i.e. as provided for in section 48 of the Sectionals Titles Act 95 of 1986 (the Act): Upon the physical destruction of the building When the owners by unanimous resolution so…
It often occurs that an heir of a deceased testator dies before or after the death of a testator, who died testate or intestate. The question begging an answer is what effect does the death have on the devolution of the inheritance of immovable property bequeathed or inherited by such…
