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 […]
5 Questions to get your homeowner relationship right
Despite the recent interest rate increase, South Africa is still currently in what is deemed a “buyer’s market”, where first-time homebuyers are enjoying the opportunity of entering the property market at a much earlier stage than their financial situations would have allowed in previous years. But it’s precisely the fact that so many homebuyers are […]
Selling a property with defects: What you need to know
The Purchaser signs an agreement of sale with the Seller. The property is transferred into the Purchaser’s name. A month later, there were heavy rainfalls and the roof leaks. Is the Seller liable to repair the roof or the Purchaser, as the new owner? To understand which party is liable, one must appreciate the difference […]
Are estate agents ready for the change to come?
Property Practitioners who now need to hold a Fidelity Fund Certificate, unless excluded, to practice in terms of the Property Practitioners Act, 22 of 2019, may have certain questions regarding the application process to obtain the Certificate, its issuing from the Authority and any disqualifications from issuing, its amendment, withdrawal, and lapse thereof. A Property […]
Preparing your budget for your dream home
Purchasing a new home is undoubtedly an exciting decision, but it is also an extremely emotional one. A home is where family traditions are brought to life and where lifelong memories are made. However, in addition to the immense pride that comes with having a place to call your own, comes the heavy costs that […]
To buy or not to buy… that beach house
How many times have you heard a friend or family member talk about their family beach house. A great place where family and friends meet every year over Christmas and New Year to spend time together and generate great memories. Some even go there once or twice during the year, depending on how close they […]
The rising popularity of sectional title ownership
Sectional titles have become a staple in the real estate industry over the past decades. And with all the benefits that come with it, it makes sense. Heightened security, lower insurance costs on buildings and outdoor areas, shared maintenance costs with other owners, becoming part of a community, no cleaning the pool on Saturday mornings — it sounds like any […]
The current state of the rental market
While restaurants, shopping malls and beaches may look somewhat similar to what they did before the pandemic, nevermind lockdown regulations and social distancing protocols, the real estate rental market has not recovered quite as well as the consumer market. Studies conducted by the TPN Credit Bureau have indicated that, at the start of the hard […]
How does the POPI act affect credit bureaus?
When it comes to the protection of personal information, there are two acts that govern businesses and those working with such information. The Protection of Privacy Information Act (POPIA), which came into effect on the 1st day of July 2021, and the Promotion of Access to Information Act (PAIA), which came into effect on the 9th day of […]
The importance of an objective and experienced executor
The nomination of an executor is an important aspect of a Last Will and Testament. An executor is nominated in a Last Will and Testament and, upon death, he or she administers and distributes the estate in accordance with the testamentary wishes of the deceased. Importantly, although a person can nominate an executor, the executor is appointed by the Master of the High Court through the issuing of Letters of Executorship. The executor is responsible for, amongst other […]