The ABCs of lease agreements in South Africa
Navigating the world of lease agreements can be complex and fraught with potential pitfalls. In South Africa, these agreements are an essential tool for establishing clear expectations and protecting the interests of both landlords and tenants. Whether you’re a seasoned property manager, a first-time landlord, or a prospective tenant, understanding the nuances of these contracts […]
Will-stipulated purchase option: Are there transfer duty impacts?
Any person drawing up a last will and testament, and who intends to include an option to purchase any of their properties, should be aware of the transfer duty implications such provision might bring forth. This article intends on discussing the beforementioned implications at the hands of the case of Secretary for Inland Revenue v […]
Domicilium citandi et executandi in South African law
How is it possible that someone can obtain judgment against me, without my knowledge of any summons issued against me or a court date to state my side of the story? Well, in our law this could happen if you agreed to a domicilium address without notifying other parties about a change therein when you […]
Navigating the amendments to the Trust Property Control Act: Beneficial ownerships in South Africa
The Trust Property Control Act, a key piece of legislation governing South Africa’s trusts, recently underwent a substantial transformation with the passage of the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act. This regulatory overhaul was aimed at strengthening the country’s trust governance, a direct response to its greylisting status, and has significant […]
Responsibility to maintain and repair foundations and boundary walls in a sectional title scheme
This article will briefly consider the definitions of common property vis-à-vis sections in terms of the Sectional Titles Schemes Management Act 8 of 2011 in order to establish who must maintain what in sectional title scheme developments. Many residential developments in South Africa are established in terms of South Africa’s sectional title scheme legislation. Residents […]
Softening the rate hike blow
Ways to reduce your monthly home loan repayments and other costs. Cost-cutting is on many people’s minds, as prices rise, and affordability becomes stretched. While potential homeowners continue to benefit from attractive interest rates due to heightened competition between the banks, what are the cost-saving options available to existing homeowners? The reality is that the […]
What happens to your deposit if the home sale falls through?
It depends on which party is responsible. It’s every home buyer’s worst nightmare. You find your dream home; your offer is accepted; and you pay a deposit—only for the sale to fall through before the property is transferred into your name. The question now is, where does this leave your hard-earned deposit? The answer depends […]
Having ‘skin’ in the property game
Bigger deposits mean a smaller loan and a better interest rate Rising inflation and several interest rate hikes have many South Africans trying their best to keep their costs down where possible, and this has also translated into their homebuying behaviour. The Q2 ’22 oobarometer statistics, released by ooba, reveal lower-than-expected home price inflation from […]
Compliance certificates required when selling a property
There is a duty on the Seller when selling an immovable property to provide certain certificates of compliance to the Purchaser. There are five compliance certificates that the Seller is required to obtain at his/her own cost before the transfer of the property takes place. The following are the necessary certificates: Electrical Compliance Certificate The […]
Will solar power increase the value of your home?
The upfront investment is high, which you’ll want to recover when you sell Stage 6 loadshedding is now firmly in effect, many South Africans are without power for up to 12 hours each day, and the threat of Stage 8 blackouts looms large on the horizon. It’s no wonder then that many households are turning […]