DEREGISTRATION AND REINSTATMENT OF COMPANIES AND CLOSE CORPORATIONS

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A company or close corporation (for ease of reading we only refer to a company hereafter as the deregistration and reinstatement is the same, other than costs of filing and reinstatement which differ as set out below) may be deregistered voluntarily, or by any other third party, provided that the company has ceased to carry […]

SECTIONAL TITLES SCHEMES MANAGEMENT ACT

brown 4-layer bricked building

The Sectional Titles Schemes Management Act No. 8 of 2011 (the “Act”) and Regulations came into operation on 7 October 2016. Our previous article on this topic dealt with the additional requirement placed on Body Corporates to establish and maintain a reserve fund sufficient to cover the costs of future maintenance and repairs of common […]

NEW PROPERTY OWNERS ARE NO LONGER LIABLE FOR HISTORICAL MUNICIPAL DEBT

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In the recent case heard by the North Gauteng High Court, Chantelle Jordaan and Others v The City of Tshwane Metropolitan Municipality and Others, which judgment was handed down on 7 November 2016, it has been held that the provisions of section 118(3) of the Local Government: Municipal Systems Act 32 of 2000 are constitutionally […]

COMMUNITY SCHEMES OMBUD SERVICE ACT

orange and white concrete building

The Community Schemes Ombud Service Act 9 of 2011 and regulations came into operation on 7 October 2016. For the first time in South Africa, legislation has been enacted with a view to the promotion of good governance for all community housing schemes. A community scheme, in terms of the act and regulations, is any […]

ESTABLISHMENT OF A RESERVE FUND FOR SECTIONAL TITLE SCHEMES

Sectional title owners are used to contribute levies towards the body corporate’s administration fund, to cover the estimated annual operating costs for repair, maintenance, management and administration of the common property, including reasonable provision for future maintenance and repairs of the common property. This has not changed. In terms of section 3(1)(b) of the Sectional […]

EDUCATIONAL EXEMPTIONS TO NON-EXECUTIVE DIRECTORS OF ESTATE AGENCY COMPANIES

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On the 20 June 2016 the Estate Agency Affairs Board (“EAAB”) announced that it will effective immediately allow for persons interested in becoming non-executive directors of “affected estate agency companies” to apply to the EAAB for the granting of an educational exemption against the education requirements for principal estate agents. Non-executive directors may also apply […]

FOREWARNED IS FOREARMED – ESTATE RULES SHOULD BE READ BEFORE BEING AGREED TO

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Estate developments and estate living are on the increase in South Africa as a means of promoting security and peace of mind. As a natural consequence of living within a designated communal area residents agree to live within the framework of the rules of the estate which limits certain freedoms they would otherwise experience in […]

BUYING PROPERTY IN SOUTH AFRICA

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South Africa has one of the best Deeds Registries Systems in the world, which makes it very safe to purchase and sell property in this country. The Estate Agent is involved extensively whilst choosing a property and concluding a Deed of Sale. Once you find a suitable property, the Agent will prepare an Offer to […]

OMBUD SERVICES FOR SECTIONAL TITLES AND COMMUNITY SCHEMES

Crop businessman giving contract to woman to sign

Till now, there has not been a cost effective dispute resolution mechanism for any type of a dispute that arises in Sectional Title or other Community Schemes that does not involve expensive legal costs. This will however be changed by a new piece of legislation (the Community Schemes Ombud Services Act No. 9 of 2011 […]

BE VIGILANT ABOUT ONLINE FRAUD

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Dykes van Heerden will NEVER e-mail you our banking details. Our offices are registered as public recipients with the various banks. For your protection when making payment to our offices please utilise the public beneficiary/recipient option with your bank. Our office will never change or amend our trust banking details. Please contact our office immediately […]

CAUTION – AMENDMENTS TO EXISTING CONTRACTS BY MEANS OF ELECTRONIC COMMUNICATION AND WRITTEN CORRESPONDENCE

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The recent judgment by the Supreme Court of Appeal in Spring Forest Trading 599 CC v Wilberry (Pty) Ltd t/a Ecowash and another [2015] JOL 32555 (SCA) has had far reaching consequences as regards the variation of contracts by means of an exchange of email correspondence. A common clause which is contained in contracts is the non-variation clause, which clause provides that the agreement may not be varied unless […]

NON-REFUNDABLE DEPOSITS ARE NOT AS NON-REFUNDABLE AS YOU THINK

a person holding a bunch of money in their pocket

One quite often comes across non-refundable deposits in Offers to Purchase properties. In addition most Deeds of Sale contain breach clauses that stipulate that in the event of a contractual breach by the Purchaser that is not rectified within a certain number of days, the Seller can cancel that agreement and retain all amounts paid […]

SECTIONAL TITLE AMENDMENT ACT 11 OF 2010

Assorted-color House Facade in Park

The long awaited Sectional Title Amendment Act 11 of 2010 has finally been published on 7 December 2010. The Amendment Act aims to clarify, define and redefine a number of issues related to the everyday dealings with Sectional Title concepts. The most important amendments for Estate Agents are discussed below. BOUNDARIES OF A SECTION: Section […]

AMENDMENT OF SECTIONAL TITLES ACT

white and black concrete building

The Sectional Titles Act has recently been amended. Some of the managing agents are interpreting the amendment to mean that the Seller has to pay all levies which are due up to the financial year end. In effect therefore the Seller has to pay the monthly levies in advance for a period of up to […]