A BRIEF OVERVIEW OF THE PROPERTY PRACTITIONERS BILL, 2019
The Property Practitioners Bill, 2018 is intended to replace and repeal the Estate Agency Affairs Act of 112 of 1976 and is intended to govern amongst others estate agents. It was introduced to the National Assembly on 14 June 2018 and was passed by the National Assembly on 4 December 2018. It has since been […]
ESTATE ROADS ARE NOT NECESSARILY PUBLIC ROADS – THE RELATIONSHIP BETWEEN THE PARTIES IS BASED ON THE LAW OF CONTRACT
We previously published articles in respect of the case of Singh and another v Mount Edgecombe Country Club Estate Management Association 2 (RF) NPC and others [2016] JOL 35169 (KZD) (the “First Case”) discussing amongst others the legality and enforceability of certain estate rules as well as a second article discussing the ruling of the […]
CHANGE IN TRUST ACCOUNT INTEREST FROM 1 MARCH 2019: NO NEED TO PANIC
From 1 March 2019, Conveyancers are required to invest trust funds on behalf of clients in terms of section 86(4) of the Legal Practice Act 28 of 2014 instead of section 78(2A) of the Attorney’s Act 53 of 1979 (as this Act has been repealed). The most important change effected hereby, is the fact that […]
UPDATE: ADDITIONAL PROTECTIONS AFFORDED TO CONSUMERS IN RESPECT OF THE EXECUTION OF PRIMARY RESIDENCE
This newsflash is an update to our September 2018 newsflash published on this topic. We previously discussed the landmark judgment as handed down by the High Court of South Africa in the Gauteng Local Division, Johannesburg on 12 September 2018 in respect of various applications heard together (case numbers: 2018/00612; 2017/48091; 2018/1459 and 2017/35579) which […]
WHEN IN DOUBT – REGISTER AS A CREDIT PROVIDER
There has been a lot of uncertainty amongst the courts in respect of the interpretation and application of the National Credit Act 34 of 2005 (the “NCA”) as to amongst other aspects, whether once off credit providers are required to register as credit providers or not. The Supreme Court of Appeal handed down a decisive […]
ADDITIONAL PROTECTIONS AFFORDED TO CONSUMERS IN RESPECT OF THE EXECUTION OF PRIMARY RESIDENCES
A landmark judgment has been handed down by the bench of the High Court of South Africa in the Gauteng Local Division, Johannesburg on 12 September 2018 in respect of various applications heard together (case numbers: 2018/00612; 2017/48091; 2018/1459 and 2017/35579) which cases involved Absa Bank Limited and the Standard Bank of South Africa Limited, […]
DIVORCE AND IMMOVABLE PROPERTY
For the purposes of this article we will be discussing recommendations on how to deal with immovable property before divorce (in uncontested divorces) and factors to bear in mind for sellers, buyers and agents when dealing with a property owned by a divorced person. PRE-DIVORCE – SETTLEMENT AGREEMENT & IMMOVABLE PROPERTY Unfortunately, we often encounter […]
EXPROPRIATION OF LAND WITHOUT COMPENSATION – UPDATE (Jan 2019)
On 21 December 2018 the draft Expropriation Bill, 2019 (the “Bill”) was published in the Government Gazette by the Department of Public Works. The Expropriation Bill is the enabling legislation which is proposed to give effect to expropriation of land. The draft Expropriation Bill was first introduced in the National Assembly in 13 February 2015 […]
Property Valuations Roll
CITY OF JOHANNESBURG AND MOGALE CITY PROPERTY VALUATION ROLLS HAVE BEEN PUBLISHED Notice has been given in terms of Section 49(1)(a)(i) of the Local Government: Municipal Property Rates Act, 2004 as amended (the “Act”), that the valuation roll for the financial years 1 July 2018 to 30 June 2022 (for City of Johannesburg) and the […]
HIGHLIGHTS OF THE TAX CONSEQUENCES OF THE 2018 BUDGET SPEECH
The South African Budget Speech took place in Parliament on 21 February 2018 as presented by Minister of Finance Malusi Gigaba. The highlights of the budget speech and the proposed tax changes are as follows: Transfer duty remains unchanged. In our view this is favourable within the property market and will promote investment and growth […]
CERTAIN COMMON ESTATE RULES WHICH FALL WITHIN THE AMBIT OF PUBLIC LAW MAY BE UNENFORECABLE
We previously published an article in respect of the case of Singh and another v Mount Edgecombe Country Club Estate Management Association 2 (RF) NPC and others [2016] JOL 35169 (KZD) (the “First Case”) discussing amongst others the legality and enforceability of certain estate rules. While the general principle remains in respect of estate rules […]
“SPLUMA”
WHAT IS THE SPATIAL PLANNING AND LAND USE MANAGEMENT ACT OR “SPLUMA” AS IT IS NOW COMMONLY REFERRED TO? SPLUMA is a national framework legislation which came into operation on the 1st of July 2015. SPLUMA’s primary aim is to provide national, provincial and municipal spheres of government with a framework relating to the establishment […]
29 AUGUST 2017 CONSTITUTIONAL COURT RULING
By now most people have heard the fantastic news that the Constitutional Court has ruled that once a property has been transferred, the rights of Municipalities in terms of section 118(3) of the Local Government: Municipal Systems Act (“the Act”) against the owner of that property cannot be enforced against the new owner of that […]
SHOULD I BUY MY RESIDENTIAL PROPERTY IN MY NAME OR IN A CC, COMPANY OR TRUST
As a general rule residential property should never be bought in a name of a Company or Close Corporation due to the fact that a Company or Close Corporation has disadvantages in regard to the payment of tax when it sells a property:- Download the PDF document to read this article.
A BRIEF OVERVIEW OF THE APPLICATION OF THE PREVENTION OF ILLEGAL EVICTION FROM AND UNLAWFUL OCCUPATION OF PROPERTY ACT 19 OF 1998 (the “PIE Act”)
When does the PIE Act apply? PIE applies in respect of all land within South Africa (irrespective of the zoning of such land) which is unlawfully occupied for residential purposes (being buildings or structures that are used as dwellings and housing or shelter for human beings). One of the prevailing cases in this regard is […]
BRIEF SUMMARY OF THE FINANCIAL INTELLIGENCE CENTRE AMENDMENT ACT 1 OF 2017
On 2 May 2017 the Financial Intelligence Centre Amendment Act 1 of 2017 (the “Amendment Act”) was published which Amendment Act has made a number of amendments to the Financial Intelligence Centre Act, 2001 (the “Act”). Certain sections of the Amendment Act became effective on 13 June 2017, certain other sections will become effective on […]
WHAT YOU NEED TO KNOW ABOUT THE REGULATION OF AGRICULTURAL HOLDINGS BILL
On the 17 March 2017 the Regulation of Agricultural Holdings Bill (the “Bill” or “Act”) was published in the Government Gazette. Although this Bill may be subject to substantial amendment, a number of approvals and final proclamation before it becomes effective, we have sought to outline some of the key provisions of this Bill in […]
RESOLUTION FOR A TRUST
One always has to be extremely careful when one of the contracting parties is a trust. The Supreme Court of Appeal has ruled that in the case of a trust, a deed of sale signed by one or more of the trustees on behalf of the trust will not be valid unless all the trustees […]
THE IMPLICATIONS OF SELLING A HOUSE WITHOUT APPROVED PLANS AND UNDERTAKING UNAPPROVED BUILDING WORKS
It is common knowledge that when a house or a structure is built on immovable property that the law requires the plans to be drawn up in a particular manner and approved by the relevant Local Authority with jurisdiction. Therefore, it stands to reason that every dwelling or house will have a set of plans. […]
EXPERIENCE SHOWS THAT A SPEEDY AND EFFICIENT REGISTRATION OF TRANSFER PROCESS PLACES YOU, THE AGENT IN THE BEST POSSIBLE POSITION AND LIGHT:
A property transaction is more than a transaction, it is an experience for both the seller, the buyer and even the agent. A smooth transfer process which runs like clockwork fills an agent with pride, improves the agent’s reputation, fires up-agents and boosts their confidence and market presence. This confidence and success leads to increased […]
