Every now and again, we are faced with property transactions unable to proceed due to a shortfall of funds. Over the years, we have come across some creative, and some not-so-creative solutions to this problem. A recent judgment in the KwaZulu-Natal High Court shed some light on this topic as far as it relates to […]
Read more...Category: Property Law
Property transactions
Beware when purchasing a property at a sale of execution
In terms of section 15B(3)(a)(i)(aa) of the Sectional Titles Act 95 of 1986 (the Act), the registrar shall not register a transfer of a unit or an undivided share therein, unless there is produced to him: “ (a) a conveyancer’s certificate confirming that as at date of registration: (i)(aa) If a body corporate is deemed […]
Read more...Why does the seller have to pay clearance figures before the transfer of fixed property?
Before transferring any fixed property at a deeds office, a municipal clearance certificate has to be obtained and lodged. The certificate confirms that all amounts due to the municipality in respect of the property have been settled up to date and also an advance amount for a period of typically three months. The transferring attorneys […]
Read more...Can you evict adult non-dependant children from a farm?
First Realty (Krugersdorp) (Pty) Ltd brought an application for the eviction of various occupants situated on one of its properties in terms of the Extension of Security of Tenure Act, 62 of 1997 (“the act”). The property was a farm owned by Mr Hamman since 2011. Hamman’s application relied on sections 10 and 11 of […]
Read more...Electronic signing of bond documents – good or bad?
Recently, some of the major banks in South Africa have introduced electronic signature for bond documents. This method of signing replaces the traditional (signature by hand) method of signing bond documents. The reasons why electronic signatures have been introduced are the following: It saves time during the consultation with clients. Electronic signatures are faster than […]
Read more...WHY SHOULD YOU TAKE NOTE OF THE MUNICIPAL VALUATION ROLL?
The Local Government: Municipal Property Act, 6 of 2004, provides municipalities with the power to levy a rate on properties in its area. The rate is calculated on the market value of a property and is commonly known as the rates and taxes that you pay to the municipality each month. Do you know how […]
Read more...Options v Rights of first refusal
If you market, buy or sell immovable property on a regular basis you will at some stage be faced with Rights of First Refusal and Options. Although they might be similar in nature, they have core differences. Failure to understand these differences is simply not an option. In both cases you will have a grantor […]
Read more...Can I sign my sale agreement with DocuSign?
According to its website, DocuSign is an American based company that allows you to electronically sign any document from “sales contracts and offer letters to account openings and invoices”. But can you use it to sign a sale agreement for your immovable property in South Africa? Section 2 of the Alienation of Land Act, 68 […]
Read more...Owner, can you move “shop” to your house?
Lockdown has changed many a thing in our daily lives – one of them is trying to work from home. The question many might ask once the lockdown has been lifted, is whether you can “move shop” and start running your business from your residence? What many homeowners don’t know or realise, is that their […]
Read more...How to object against the municipal valuation of my property?
The Local Government: Municipal Property Act, 6 of 2004, provides municipalities with the power to levy a rate on properties in its area. The rate is calculated on the market value of a property. Consequently, all municipalities must compile a valuation roll which provides the value of each property in the area of the relevant […]
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