Sale of property and the National Credit Act

One might think that only banks and other financial institutions need to register as credit grantors in terms of the National Credit Act. This is, however, not the case. Where credit is granted by a seller to a purchaser of immovable property, the National Credit Act might apply. If it does, several requirements have to […]

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Good news for HOA’s

  Good news for HOA’s Body corporates can claim levies from unit owners and prevent the transfer of a sectional title unit if the levies are not covered: Sectional Titles Act, 95 of 1986 and Deeds Registries Act, 47 of 1937. Municipalities can also prevent the transfer of a property if the clearance figures are […]

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Hoe werk ‘n vruggebruik by plase?

Die oorledene was ‘n boer gewees en het in sy testament voorgeskryf dat sy oudste seun sy plaas van 2500 hektaar moet erf onderhewig daaraan dat sy vrou tot haar afsterwe die reg op die genot en die gebruik van die plaas het. Is sodanige voorwaarde geldig? Ja. Dit word ‘n vruggebruik genoem en is soms ‘n sinvolle wyse om […]

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Kan ‘n eiendom, wat deur bedrog bekom is, behou word?

MEINTJIES NO V COETZER AND OTHERS 2010 (5) SA 186 Feite: 1. Die oorledene verly in 1993 ‘n testament ingevolge waarvan sy haar hele boedel in gelyke dele aan haar drie seuns vererf. 2. In 1998 verly sy ‘n verdere testament ingevolge waarvan sy sekere gedeeltes van haar plaasgrond aan elkeen van haar drie seuns […]

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When is VAT payable on the sale of a property?

Where the seller is registered for VAT. The transaction will however be regarded as zero rated (with other words no VAT has to be paid) if the following requirements are met: 1. Both the seller and the purchaser are registered for VAT. 2. The property is sold as a going concern which is capable of […]

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When are fixtures and fittings part of the house sold?

If it is clear from the method of attachment of the fixtures and fittings that the intention was to make a permanent addition to the immovable property they will be part of the house sold if the contract does not specifically stipulate otherwise. It is, however, not always that easy to determine in practice whether […]

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What percentage commission can an estate agent charge?

What percentage commission can an estate agent charge? The percentage agreed upon between the seller and the estate agent. If no specific percentage was agreed, the courts will normally accept that the parties tacidly made the average commision for that area (for ex. 7.5%) applicable.

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