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Property Blog Articles | Advice | Contractual Matters | Market News
Rental Management

Subletting your property

211

The recent tax hike has triggered tenants to consider subletting as a way to make an extra buck. We’ve put together a basic guide exploring key aspects: what it means to sublet, how subletting differs based on the kind of property, the different terms of a subletting agreement and best practice when subletting.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

The Lapsed Offer to Purchase

3404

For prospective buyers who have found the right property, it is always an exciting but also a daunting time when an Offer to Purchase (OTP) has been signed and presented to the seller. The wait then begins before finding out whether or not it has been accepted.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

Signing suretyship

2926

Signing surety for another person, whether family, business partner or friend, can seem like a simple formality in order to help that person successfully conclude an important transaction. But before signing on the dotted line, make sure you know what you’re in for.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

Buying one party’s share of a jointly owned property

2983

There are a number of ways to deal with the undivided shares in fixed property held by two or more people. In the case of joint ownership by married persons, one such way is by one party becoming the sole owner of a property. The process for this will depend heavily on the matrimonial regime selected at the time of marriage.

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Property Transfers | Bond Registrations | Snymans Attorneys
Sectional Title Governance

Homeowners Associations and Body Corporates – same, same but different

959

For a number of reasons, popularity of sectional title schemes and homeowners associations have risen over the last couple of years, including better security options, affordability and unique living spaces. Understanding the differences between these two bodies is a must for any prospective home buyer in modern day communal living.

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Property Blog Articles | Advice | Contractual Matters | Market News
Property Finance

Multiple mortgages

1416

Extending finance on a home loan is possible in two ways: accessing funds under security of the already registered bond or, should the security provided under this bond not be sufficient, a second bond can be registered.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

The terms of an estate agent mandate

4145

One of the most important purposes of signing an estate agent mandate is to create a binding agreement between the estate agent and the seller that sets out the terms of the arrangement agreed upon to market and sell the property.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

Demystifying the voetstoots clause

6773

Because there is no specific wording that accompanies a voetstoots clause in the agreement of sale for immovable property, it is not always immediately apparent to non-property professionals what this clause really means.

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Property Transfers | Bond Registrations | Snymans Attorneys
Sectional Title Governance

Selling a sectional title unit

2170

Sectional title units have grown in popularity over the last number of years because of the increased security and affordability that these units offer. This is particularly true for first-time buyers or young couples starting out.

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Property Blog Articles | Advice | Contractual Matters | Market News
Legislative Guidelines

Foreign Interest in South African Immovable Property

3039

The South African property market’s continued growth in the last 10 years has proved to offer valuable investment opportunities, both for local buyers as well as for foreign investors. However, as with many transactions that reach cross international borders, a property purchase by an individual or company needs to comply with a specific set of regulations.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

Selling a property out of a deceased estate

7245

There are two major differences between the sale of a property out of a deceased estate and a “normal” sale…

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Property Blog Articles | Advice | Contractual Matters | Market News
Sectional Title Governance

Your sectional title unit and Airbnb

3410

Many people who own a second property are owners of a unit in a sectional title scheme for investment purposes. These units have largely been let to tenants for rental income, but more recently, Airbnb has changed the landscape of property rentals and how owners are able to derive an income from their investment properties.

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Property Blog Articles | Advice | Contractual Matters | Market News
Legislative Guidelines

Municipal Valuations and Disputes

4559

Municipal property valuations can assist sellers in determining an appropriate asking price for a property, but property owners should also keep an eye on these figures so as to plan their monthly expenses properly…

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

Can I object to my neighbour’s renovations?

8775

Renovations have the potential to sour the best of neighbourly relationships, but what are the legal rights and obligations when it comes to an owner undertaking property renovations? Here are a few things to know…

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Property Blog Articles | Advice | Contractual Matters | Market News
Property Finance

Approval in principle

2858

Buying a home can be a stressful process, particularly in a competitive market where you need to move quickly or run the risk of losing out on buying the property of your dreams. Being given an ‘approval in principle’ from a financial institution can play a significant role in moving ahead with the property agreement contract.

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Property Transfers | Bond Registrations | Snymans Attorneys
Contractual Matters

The do’s and don’ts of buying a property

8836

Every property agreement contract is slightly different, but with our years of experience as conveyancing attorneys, we have identified some key do’s and don’ts that can help make a property sale a success for all parties concerned.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

Agreements of sale of immovable property: Part 2 – Tips for Buyers and Sellers

10756

Following on from Part 1, there are a number of aspects relating to the basic sections within a contract of sale that should be considered before either party signs on the dotted line.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

Agreements of sale of immovable property: Part 1 – Terms of the Agreement

9014

In terms of the Alienation of Land Act, 68 of 1981, an agreement for the sale of immovable property, also known as an Offer to Purchase (OTP) in the industry, must be in writing and signed by the parties thereto. The OTP must further contain three essential elements to be legally binding:

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VAT Increase
Market News

South Africa’s VAT increase for property transactions

2044

For the first time in 25 years, the Value Added Tax (VAT) rate in South Africa will be increased by 1% from 14% to 15%. Here’s what this means for property transactions…

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Property Blog Articles | Advice | Contractual Matters | Market News
Legislative Guidelines

Borehole regulations you need to know

8783

Putting in a borehole on a property is often an attractive option for owners as it provides a convenient and cost-effective source of water. But before drilling for water, be sure to comply with all relevant regulations to avoid unpleasant penalties.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

Buying a property for someone else

9491

While a less common scenario, it is possible for an individual to make an investment in or finance the purchase of a property with the intention of another becoming the owner, and although the transfer process remains largely unchanged, there are a few things to be aware of.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

Rent-to-buy agreements

9382

The reality of the current South African economic climate is such that a considerably large number of bond applicants are unsuccessful, while sellers often experience difficulties in selling their properties at a desirable price. The rent-to-buy option is one that addresses both the buyer and seller’s concerns.

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Property Blog Articles | Advice | Contractual Matters | Market News
Legislative Guidelines

The Deeds Office purpose and process

10447

All title deeds – documents that confirm ownership of immovable property that is land – are registered, processed and stored by the South African Deeds Office. This information is vital as part of property transfers and ensuring accurate data is contained in the Deeds Registry is important for all parties concerned.

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Property Blog Articles | Advice | Contractual Matters | Market News
Sectional Title Governance

Avoid special levy shock

4936

A special levy can come as a rather unpleasant shock to sectional title unit owners when the added expense was not expected. As such, property owners should make themselves aware of what to expect when such costs are incurred.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

Why do I need a transfer attorney?

10690

Buying a property is the largest purchase that many of us will make in a lifetime, and as such should be dealt with carefully and with the assistance of experts in the field.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

Buying Property on Auction

9991

Buying a property on auction, while potentially offering valuable investment opportunities, can be daunting to those not familiar with the process. But with some basic background and know-how, it need not put off potential buyers.

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Property Blog Articles | Advice | Contractual Matters | Market News
Sectional Title Governance

Body Corporate Rules

6042

Body corporate management and conduct rules play an essential part in the effective and smooth operation of a sectional title scheme, so it’s crucial that owners and trustees are aware of the requirements in drawing up and amending these rules.

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Property Blog Articles | Advice | Contractual Matters | Market News
Property Finance

VAT or Transfer Duty?

5487

Buying a property comes with a number of expenses in addition to the basic sale price, one of which will be either VAT or Transfer Duty. Every property transaction will incur one of these two forms of tax, but it is important to understand the difference and know which will be applicable as they have different consequences for the buyer and seller in a transaction.

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Property Blog Articles | Advice | Contractual Matters | Market News
Sectional Title Governance

Body Corporate AGMs – why you should attend

6889

Sectional title property owners often view the body corporate annual general meeting (AGM) as a formality or even an inconvenience, but attendance at these meetings is an important part of sectional title ownership and should be viewed as such.

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Property Blog Articles | Advice | Contractual Matters | Market News
Legislative Guidelines

Two pieces of legislation you should know about

11866

Staying up to date on current legislation is essential, not only for legal professional but also for individuals, to ensure all transactions are concluded correctly and in line with all relevant legislation.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

Drawing up a will – what you should know

12310

The death of a loved one is a difficult time, and the administration and distribution of the deceased estate can involve a great deal of time and work, but a valid Last Will and Testament can ease the pressure considerably.

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Property Blog Articles | Advice | Contractual Matters | Market News
Legislative Guidelines

Buying a property in the name of a company or trust – the pros and cons

11524

There is much written about the sale and transfer of property by individuals in their personal capacity. But transactions involving the purchase by a legal entity such as a company, trust, or close corporation are dealt with slightly differently.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

Think before you sign – an offer to purchase is a legally binding contract

14576

An offer to purchase (OTP) can be seen as the quintessential document governing the sale agreement between the seller and purchaser. As such, it should be completed accurately and with great care.

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What Happens To The Ownership Of My Property When I Get Married
Contractual Matters

What can be considered when entering into an Antenuptial Contract

11937

For those entering into a marriage out of community of property, an antenuptial contract (ANC) is a must and therefore plays an integral role. And while there are many elements that are typically included, an antenuptial contract can be drafted in a number of ways to suit the unique needs of individuals.

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Property Blog Articles | Advice | Contractual Matters | Market News
Sectional Title Governance

An overview of sectional title levies

5269

For many, buying into a sectional title scheme comes with peace of mind knowing that the regular levy costs incurred will cover the expense of ongoing maintenance to the sectional scheme. However, it is important to understand what these levies cover and who is responsible for what.

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Property Blog Articles | Advice | Contractual Matters | Market News
Legislative Guidelines

The Property Practitioners Bill – what you need to know

9736

Currently regulated by the Estate Agency Affairs Act, 112 of 1976, the estate agent profession is set to see new legislation come into force in the near future.

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Property Blog Articles | Advice | Contractual Matters | Market News
Legislative Guidelines

Historical monuments and renovation restrictions

6965

South Africa has a diverse and rich history, represented in the buildings that have been built throughout the years. To ensure their lasting value and to preserve this legacy, these buildings are protected through legislation that regulates and restricts renovations and alterations made to buildings classified as historical monuments.

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Contractual Matters

Latent vs patent defects

13704

Making an informed decision regarding the potential investment opportunity when purchasing a property relies significantly on having a clear idea of both latent and patent defects relating to the property.

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Property Blog Articles | Advice | Contractual Matters | Market News
Legislative Guidelines

My name has changed – what happens to my property’s title deed?

7307

Depending on the reason for a change in name, the Deeds Registries Act may prescribe that the Deeds Office records need to be updated through an endorsement against a property’s title deed to reflect this change.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

Extending your bond

9019

A bond or home loan is often a necessity when buying a property and many consider the primary aim to be paying this loan off, but there are a number of alternatives that could come in handy.

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What Happens To The Ownership Of My Property When I Get Married
Legislative Guidelines

Muslim marriages and the ownership of property

1446

While South African law has historically catered to those married through a civil union or indigenous customary marriage, Islamic customary marriages have typically not enjoyed the same recognition. However, much has changed in recent years.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

Cancelling your bond: What you need to know

12403

Paying off and cancelling a home loan is often viewed as a significant goal being achieved, but before launching into this step, there are a number of aspects to consider – not least of which is whether cancelling the bond is, in fact, the right decision.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

Buying Property as an Unmarried Couple

7186

While there are important considerations for unmarried couples who choose to enter the property market together, doing so with care should still result in a positive long-term investment.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

Retirement Villages and Life Rights

10857

We commonly discuss the merits of, and differences between freehold and sectional title properties, but retirement villages often provide a third alternative to these two forms of ownership – Life Right Schemes – for those looking for a lifestyle change in old age.

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Property Transfers | Bond Registrations | Snymans Attorneys
Legislative Guidelines

Subdivision of property in South Africa

7824

There are several potential benefits associated with property subdivisions, but before moving ahead with plans to subdivide a property, owners need to take into account a number of factors.

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Property Transfers Registered
Market News

SA property market in numbers – it’s not all doom and gloom

2067

2016 has been labelled an all round poor year, and while the impact of economic and political crises – both locally and internationally – cannot be ignored, the South African property market has continued to weather the storm.

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Property Blog Articles | Advice | Contractual Matters | Market News
Legislative Guidelines

How soon after buying can you sell?

3619

For many property investors and speculators, time is the key in a successful and profitable property transaction. Here’s what you need to know about Simultaneous Transfers.

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Property Blog Articles | Advice | Contractual Matters | Market News
Legislative Guidelines

FICA – Your protection against fraud

3083

With the threat of fraud ever present in large financial transactions, FICA is being effectively implemented by accountable institutions to remove the risk for all concerned…

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Legislative Guidelines

Compliance Certificates: a matter of safety

2462

The various compliance certificates required to transfer a property can contribute to ensure a property is safe, secure and in good condition. Here’s what you need to know.

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Property Blog Articles | Advice | Contractual Matters | Market News
Legislative Guidelines

Buying tenanted properties – don’t get caught out

3573

Tenants in properties that are being sold have the potential to become a headache for buyers wanting to make the property their home, but clear agreements and terms can put that to rest.

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Property Blog Articles | Advice | Contractual Matters | Market News
Property Finance

Deposits on new developments

6993

Purchasing a property off plan is often considered a good investment. But before putting down a deposit, it’s important to understand what this means…

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Property Transfers | Bond Registrations | Snymans Attorneys
Contractual Matters

As the new owner, when can I move in?

8227

Timing your move in conjunction with the registration of a property transfer can be tricky, but there are ways to manage occupation dates through the contract of sale.

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Property Blog Articles | Advice | Contractual Matters | Market News
Property Finance

2016 – a year in review

7418

2016 is fast approaching its end, providing an opportunity for us to reflect upon what has been an exciting and successful year, although it has not been without its challenges.

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Property Blog Articles | Advice | Contractual Matters | Market News
Property Finance

Buyers beware of the “subject to bond approval” clause

11356

The ins and outs of “subject to bond approval” clauses.

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Property Blog Articles | Advice | Contractual Matters | Market News
Property Finance

What lurks beneath the repo surface?

6106

The pros and cons of investing in repossessed property.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

How sellers can optimise their chances of success

8276

Bond approval conditions in an offer to purchase, the continued marketing clause, and how these work in practice.

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Property Blog Articles | Advice | Contractual Matters | Market News
Sectional Title Governance

What you need to know about the new Sectional Titles Schemes Management Act

5253

The Sectional Titles Schemes Management Act (STSMA) has been signed into law and became effective on 7 October 2016. As a result, trustees of sectional title schemes will have to reassess the levy contributions from owners each month.

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Property Blog Articles | Advice | Contractual Matters | Market News
Legislative Guidelines

Don’t Land Up In Hot Water

3565

The potential impact of unapproved building plans when it comes time to sell.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

He Said, She Said

7300

The most common causes of Estate Agent commission disputes and how to avoid them.

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Sectional Title Governance

Must-knows about extending a Sectional Title Unit

3837

While extending a property might be a good investment, there are a number of factors to consider when it comes to sectional title unit. 

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

Until divorce do us part

6234

The divorce process can be complicated by many factors, one of which is the ownership of immovable property.

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Property Transfers | Bond Registrations | Snymans Attorneys
Property Finance

Must-knows about new developments

4738

New developments bring a level of unknown into the property purchasing equation. Exciting or intimidating, there are a number of things to consider before taking the plunge.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

Contract of sale: These clauses could cost you

5465

To reduce risks and avoid any disagreements or negative outcomes, there are a few vital things that should be included in the contract of sale.

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Property Blog Articles | Advice | Contractual Matters | Market News
Legislative Guidelines

Can a minor inherit immovable property?

4764

South African law makes provision for a minor child to own an inherited property with the assistance of their legal guardian.

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Property Blog Articles | Advice | Contractual Matters | Market News
Property Finance

Homeowners insurance is required for a bond

2332

Financial institutions will typically require a buyer to take out homeowners insurance before approving a bond application.

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Property Blog Articles | Advice | Contractual Matters | Market News
Rental Management

What is a ‘long term lease’?

6041

A long term lease entitles the lessee to a limited real right over a property for an agreed period of time ranging from 10 years to 99 years.

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Property Transfers | Bond Registrations | Snymans Attorneys
Legislative Guidelines

Back off my boundary!

1842

When considering renovations to a property, there are typically requirements in place that stipulate how far a building must be from a road or a boundary wall.

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Property Blog Articles | Advice | Contractual Matters | Market News
Property Finance

How to get a bond if you’re self employed

1092

While there may be additional information required to successfully be granted a home loan, being self-employed should not be seen as an obstacle to accessing finance.

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Property Blog Articles | Advice | Contractual Matters | Market News
Sectional Title Governance

Can trustees be paid for their time?

2818

The role of trustee is often a thankless and time consuming responsibility, and the question is often raised whether they should be remunerated for their work or not.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

What to do when tenants refuse to leave

2200

Eviction is a tricky process and one which needs to be handled correctly to avoid any legal repercussions – if the correct process is not followed, the landlord may be punished by the courts and in the most severe cases, imprisoned.

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Property Blog Articles | Advice | Contractual Matters | Market News
Legislative Guidelines

Working from home can save you tax

1916

Working from home is becoming increasingly popular, largely due to the increasing ease of connectivity. While there are many pros and cons that could be argued about making one’s home double up as an office, the tax implications of this decision should also be considered.

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Property Blog Articles | Advice | Contractual Matters | Market News
Property Finance

Repainting a rented property – who should pay?

1269

Maintenance of houses and apartments can be a costly aspect for any property owner, but when it comes to renting, who is responsible for these costs – the owner or the tenant?

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

Can I reject a signed offer to purchase in favour of a higher offer?

1462

An offer to purchase is a legal document and, once signed by both the buyer and seller, it becomes a legally binding agreement.

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Property Blog Articles | Advice | Contractual Matters | Market News
Property Finance

All rental income should be declared to SARS

381

Income received from investment and rental properties falls into the category of taxable income, and as such should be declared to SARS and included in your annual tax return.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

What happens if a suspensive condition is not met?

4088

A suspensive condition is a term or clause within a contract that clearly stipulates a particular criterion that must be met in order for the contract to come into force. Should the suspensive condition(s) not be met, the contract will be void.

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Property Transfers | Bond Registrations | Snymans Attorneys
Contractual Matters

What happens to the ownership of my property when I get married?

485

There are three types of marriages that one can enter into in South Africa, each of which will have different consequences on the ownership of property.

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Property Blog Articles | Advice | Contractual Matters | Market News
Legislative Guidelines

Properties using borehole water must display a sign

3475

Due to a significantly dry winter across the country, and many dams being alarmingly low, severe water restrictions have been implemented in most regions.

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Property Blog Articles | Advice | Contractual Matters | Market News
Property Finance

Beware of Capital Gains Tax when you sell

1694

At first glance, Capital Gains Tax (CGT) may seem like yet another thing to worry about when completing a tax return, but it needn’t cause confusion.

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Property Blog Articles | Advice | Contractual Matters | Market News
Sectional Title Governance

Ask to see the body corporate’s financial statements before buying

1371

Over and above the structural integrity of a building, when buying into a sectional scheme there are a number of elements that should be inspected closely to make a good investment.

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Property Transfers | Bond Registrations | Snymans Attorneys
Contractual Matters

Exclusive use area rights must be registered

1048

Exclusive use areas, a common feature in sectional title properties, often cause uncertainty in the minds of property owners when it comes to rights over this land.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

Why was I not given the title deed for my property?

623

Ownership seems like a simple concept; you buy something and you become the sole owner of that object. Unfortunately, the reality is not always quite as straightforward as it seems.

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Property Blog Articles | Advice | Contractual Matters | Market News
Sectional Title Governance

Structural alterations require body corporate approval

1535

It is important for potential owners to understand the benefits and potential drawbacks of buying into a sectional scheme.

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

Verbal vs. written contracts

8621

Although verbal contracts are binding under South African law, it is often important, and in some circumstances necessary, to put something in writing.

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Property Blog Articles | Advice | Contractual Matters | Market News
Legislative Guidelines

If I don’t have a Will, who will inherit my property?

640

Inheritance of assets in a deceased estate, and in particular of immovable property, can be complex.

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Property Blog Articles | Advice | Contractual Matters | Market News
Property Finance

A bank may require notice to cancel a bond

314

Paying off a home loan ahead of schedule can be beneficial, but paying close attention to the agreement is important to avoid additional fees…

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Property Transfers | Bond Registrations | Snymans Attorneys
Contractual Matters

The sale of immovable property?

2932

What does the process of selling / buying a property entail?

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

What causes registration delays?

267

What can cause my transfer / bond registration to be delayed?

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Property Blog Articles | Advice | Contractual Matters | Market News
Property Finance

Non-Residents

207

May Non-Residents buy a property in South Africa?

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Property Blog Articles | Advice | Contractual Matters | Market News
Legislative Guidelines

The Electrical Compliance Certificate

567

Who is responsible for providing an Electrical Compliance Certificate?

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Property Blog Articles | Advice | Contractual Matters | Market News
Sectional Title Governance

Refund from the Local Authority after registration

1111

Will I get a refund from the Local Authority after registration and how does it work?

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Property Blog Articles | Advice | Contractual Matters | Market News
Contractual Matters

Rates & Taxes Clearance Certificate

351

Why is it necessary for a Rates and Taxes Clearance Certificate to be issued?

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Property Blog Articles | Advice | Contractual Matters | Market News
Property Finance

Transfer Duty

339

To whom is Transfer Duty Payable and how is it calculated?

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