Consumer Information

# Estate Agency Affairs Act 112 of 1976…

Author: EAAB ESTATE AGENCY AFFAIRS ACT 112 of 1976: To provide for the establishment of an Estate Agency Affairs Board and an Estate Agents Fidelity Fund; for the control of certain activities of estate agents in the public interest … Download...

# EAAB this must stop! – 4 March 2021

The Estate Agency Affairs Board (EAAB) again has a technical failure fiasco on their hands.
Last Thursday 25 February hundreds if not thousands of estate agents and principals sat down for their online Professional Designation Examination (PDE)…

# Estate Agency Affairs Board

Author:  EAAB ABOUT: THE ESTATE AGENCY AFFAIRS BOARD: The Estate Agency Affairs Board (EAAB) was established in 1977 in terms of the Estate Agency Affairs Act 112 of 1976 (“the Act”), with the mandate to regulate and control certain activities of estate...

# Property Practitioners Act – Summary 6 January 2020

What is the Property Practitioner Act?
It is a new piece of legislation which will replace the Estate Agency Affairs Act of 1976. Its main purpose is to establish the Property Practitioner Regulatory Authority, which will replace the Estate Agency Affairs Board; to regulate the affairs of all property practitioners; to allow for transformation in the property sector and to provide for consumer protection…

3 steps to POPIA compliance – 16 July 2020

South Africa has become the latest African country to legislate the protection of personal information, with the country’s Protection of Personal Information Act (POPIA) in South Africa that came into effect on 1 July 2020…

6 factors hanging in the balance for property in 2021 – 25 January 2021

Having started the year in technical recession, only to be hit by a pandemic, few would have predicted that 2020 would turn into a successful year for property. Thanks to an unexpected wave of buyers triggered by low interest rates, motivated lenders, and excellent value on the market, however, South African property has emerged from 2020’s challenges with its head held high…

6 Reasons for Rental Agents to LOVE FICA – by Shaun Luyt

Yes, believe it or not, there are (at least 6!) reasons for Rental Agents to LOVE FICA . . . Rental agents are required to carry out FICA-related due diligence on ALL prospective Tenants and Landlords BEFORE entering into a business relationship with them, i.e. concluding a mandate, or a lease agreement …

6 reasons why you should pay a deposit when buying property – 11 September 2020

As a first-time home buyer, the most important thing to consider is whether or not clients can afford to take this big step. While it is still possible for a bank to grant clients a 100% home loan which does not require a deposit, we strongly encourage our first-time home buyers to consider putting down a minimum deposit of at least 10% of the value of the property to ensure that their home loan repayments are reduced and more manageable…

6 Things You Think Add Value To Your Home – But Really Don’t

Author : Personal Finance – Investopedia May 19, 2013 Every homeowner must pay for routine home maintenance, such as replacing worn-out plumbing components or staining the woodwork, but some choose to make improvements with the intention of increasing the home’s value

7 Ways To Improve Your Home’s Sell-ability

Author : Investopedia November 12, 2009 In this economy, houses aren’t selling like they used to. However, there are some ways to improve the chances of selling your house. If you have a house on the market, or are considering it, read these tips

90 Day Penalty Clause in Mortgage Bonds

Whenever you sell your house and are required to cancel the existing bond, you must remember that the standard home loan agreement has a clause reading something like the following:…

A Complete Guide to Working from Home in 2020 – June 2020

One wonders how many office-based businesses, having been forced to work remotely during the lockdown, will now abandon or minimise their office spaces on a permanent basis rather than return to the “old normal”. Regardless, if you and your staff are currently working from home, you need to configure the arrangement for maximum productivity and quality of life…

A Letter from IEASA’s President – Christo Weilbach – 24 April 2020

At this stage I am sure that everyone’s nerves are raw and that frustration and uncertainty is high on the agenda. We are in uncharted waters and we need to swim. At least Estate Agents are known for their resilience and I know that our profession will come back from this stronger than before…

A Notary Public – July 2020

Certain documents can, by law, only be drawn and attested by a Notary Public for them to be acceptable, especially considering that the information contained therein is relied on by third parties…

A Power Of Attorney Can Lapse – 27 June 2017

Whether because of old age or practical necessity, an ageing parent may decide to entrust the management of his affairs to one of his children, by signing a Power of Attorney in their favour. The question that arises is whether such a Power of Attorney would remain operational in the event of the parent becoming incapable of managing his own affairs…

Advantages of Owning Your Own Home

Author : Homeloans SA Owning a Property is the largest single achievement anyone can aspire to. This article covers the ‘Investment’ Aspect relating to Property Ownership.

AGENCY CONVERTING FROM CC TO COMPANY: EXISTING FFC STILL VALID? – 25 March 2019

Where an estate agency converted form a close corporation to a company, are the Fidelity Fund Certificates issued to the close corporation and its members sufficient and compliant with the requirements of the Act for the purposes of the operation of the (new) company and its directors? The judgment answers this question and illustrates the outcome of a dispute between an estate agency and an ex-intern employee regarding restraint of trade and the validity of the agreement they had entered into…

Agent commission: What am I paying for? – September 2020

Sellers often feel estate agents get too big a piece of the pie, mainly because they don’t know and can’t see what the agent is actually doing for commission earned. This sometimes leads sellers to avoid using an agent when selling their homes…

AN ESCAPE FROM CONTRACTUAL OBLIGATIONS BECAUSE THEY ARE UNFAIR? – BEADICA 231 CC AND OTHERS V TRUSTEES FOR THE TIME BEING OF THE OREGON TRUST AND OTHERS (CCT109 /19) [2020] ZACC 13 (17 JUNE) – 10 July 2020

In recent times, there has been increasing debate and court judgment dealing with the question whether an agreement between two reasonable business persons is at risk of being invalidated by invoking unreasonableness, unfairness and public policy considerations, viewed against the background of legal certainty and pacta sunt servanda (the principle that contracts freely entered into between parties must be honoured and, if necessary, enforced by the courts)…

An in-depth look at the Rental Housing Act. – 7 May 2020

The Rental Housing Act 50 of 1999 essentially regulates the relationship between landlords and tenants and it provides for dispute resolution by the Rental Housing Tribunal. It is important for landlords and tenants to familiarise themselves with the contents of the Act together with the Amendment bill to see how changes affect the parties involved…

ANN BERNSTEIN: Expropriation Bill is not as bad as portrayed, but the crux lies in implementation – 11 April 2021

For a country desperate for higher rates of investment to ignite sustainable economic growth, the Expropriation Bill, and the headlines that have accompanied its passage through parliament’s consultation processes, could not have been more poorly timed.
Coverage of the bill has cast it as the legalisation of what is presumed soon to become a vast wave of theft and looting as officials across the land use their powers of expropriation to denude property owners of all kinds of assets, not just land…

ANOTHER DEMOLITION OF ENCROACHING BUILDING ORDERED – 16 January 2020

We have often before reported on case law where owners were ordered to demolish buildings built without municipal approval. This matter deals with a related scenario where demolition is sought of an encroaching building that was built without municipal building plan approval…

ARE ONLINE MEETINGS HERE TO STAY? – 15 March 2021

Hosting a successful body corporate general meeting is always a challenge. When a sufficient number of owners do not attend the meeting, a quorum will not be met and it can result in an unnecessary waste of time for those owners who did make the effort to attend…

ARE VIDEO WILLS VALID IN SOUTH AFRICA? – 15 September 2020

There is no precedent on the validity of video wills in South Africa. In order for a will to be valid and accepted by the Master of the High Court in this country, it has to comply with the requirements as set out in section 2 of the Wills Act 7 of 1953…

ARTICLE PUBLISHED / FEAR OF EXPROPRIATION – FOE? – 26 July 2019

Earlier this month, the Expropriation Bill was approved by Cabinet and sent to Parliament for adoption. This prompted a revived deluge of negative press, fears of government-approved land grabs and visions of a fast forward to Zimbabwe-style land losses. None such perceptions are warranted or correct…

AVOIDING THE ELEPHANT IN THE ROOM – 6 November 2020

It is indeed the large proverbial elephant that must be served and digested before 1 June 2021, but it is relatively easily achievable if the business management has the right mindset, a healthy POPI appetite…

Bank mortgage lending is drying up in South Africa – 29 May 2020

The South African Reserve Bank (SARB) says that banks have adopted a relatively conservative approach to mortgage lending. Banks will understandably be taking a cautious approach in the short-to-medium term as a result of the fallout from the Covid-19 pandemic…

Big standoff between retailers and landlords loom – 7 May 2020

Shopping centres and large retail outlets are bleeding. With most having to keep their doors closed during the lockdown period, revenue has slowed to a trickle – or to nothing at all. Even for stores that may trade, feet through the door is becoming a long-forgotten concept as many shoppers turn to online orders and home deliveries…

Black Communities Development Act 4 of 1984

To provide for the purposeful development of Black communities outside the national states; to amend and consolidate certain . •. ‘·laws which apply with reference to such communities; and to provide for matters connected therewith…

Blow for activists in River Club development – 1 March 2021

On 22 February it was announced that Western Cape minister for environmental affairs and development planning (DEADPA) Anton Bredell had decided to dismiss appeals lodged against the environmental authorisation (EA) issued by his department in August 2020 for a proposed R4.5bn development in Observatory…

BODY CORPORATE WOES TO COLLECT LEVIES – 27 MARCH 2017

This judgment illustrates the dilemma often faced by bodies corporate in collecting arrear levies: although it acts on behalf of and for the well-being of all owners, it cannot sequestrate a defaulting owner if it cannot be shown that the step will also be for the benefit of all other creditors of the owner…

Breach of Contract

Remedies in case of a breach of contract What remedies does a party to a deed of sale have if the other party fails to fulfil his or her contractual obligations?

BREAKING THE BOND – 14 July 2020

One of the tricky issues to be resolved during a divorce could be when the couple owns a property jointly and even more so when a mortgage bond is registered in both their names..

Builders welcome Development Bill

Author : Minister of Economic Development: Ebrahim Patel 13 December 2013 The Master Builders Association of the Western Cape (MBAWC), a registered trade association for employers in the building industry, has welcomed the Infrastructure Development Bill…

BUILDING PLANS ARE MORE THAN JUST PAPERWORK – 21 January 2021

Camps Bay & Clifton Ratepayers Association and Others v Al Khalifa Family Trust and Another (11256/2019) [2020] ZAWCHC 181 (15 December 2020)

In this matter, a homeowner not only deviated from its approved building plans and subsequent rider plans, but also continued building before the outcome of departure applications (which were never granted)

Buy to Let

Author : Homeloans SA Buy to Let – What are the Banks Requirements Investors who are looking for a good return on their investments still believe that property is the place to put your money. One way of doing so is to through a process called “Buy-to-Let.”

Buying a Repossessed House

Author : Homeloans SA How to Buy a Repossessed House One way of getting into the property market as an investment, or to buy your own home, is to buy a repossessed house. One way of getting into the property market as an investment, or to buy your own home, is to buy a repossessed house.

Buying, Selling or Leasing a Property

Author:  EAAB What is the most important aspect when selling or buying a house? Common sense. Don’t be in a rush. Do your research, always ask for advice and before you sign anything make sure you fully understand all the terms of sale and all the relevant...

Can A Body Corporate Amend Any Scheme Rules? – 17 May 2016

When opening a new sectional title development, the developer is bound to certain management and conduct rules prescribed in the Sectional Titles Act. These include rules regarding the election and remuneration of trustees, voting, improvements and owner meetings…

Can a body corporate still raise special levies? – 12 March 2020

When the Sectional Titles Schemes Management Act no 8 of 2011 was promulgated in October 2016, many trustees and owners in sectional title schemes were under the impression that special levies were now a thing of the past. What lead to this impression was the obligatory requirement for a maintenance, repair and replacement plan (MRRP), compelling schemes to save for big expenses and evidently eliminating the need for special levies…

CAN A MORTGAGE BOND EMBODY A SALE? – 19 November 2020

Elmo-York N.O v Van Dyk and Another (67219/2019) [2020] ZAGPPHC 570 (22 September 2020)
In this matter the court was asked to declare that a mortgage bond document, in addition to constituting the security for a loan, also embodies a sale agreement…

CAN AN ESTATE AGENT BE BARRED FROM ENTERING A SECTIONAL TITLE DEVELOPMENT DURING ALERT LEVEL 3? – 23 June 2020

It is common practice for a property owner or investor to appoint an estate agent to either list and sell his or her unit or to manage the rental thereof. Such estate agent acts on the written authority of the registered owner and is allowed to perform certain acts or duties, which include entering the sectional title development to take photos of the unit, to conduct an ingoing or outgoing inspection or to show the unit to a potential purchaser or lessee…

Can I Change My Mind After Signing A Contract? – 25 June 2019

John is eager to secure accommodation at university for his daughter and concludes a lease agreement for a flat near campus. Before commencement of the academic year, she has a change of heart and decides to pursue studies at a different institution. What are John’s rights?…

CAN I REVOKE AN OFFER? – 30 March 2021

Two of the fundamental elements of the South African Law of Contract is offer and acceptance. In other words, for a legally binding contract to come into existence, there must be a valid offer and there must be a valid acceptance of such an offer…

Can real estate contribute towards rebuilding South Africa’s crippled economy? – 16 February 2021

Despite President Ramaphosa’s optimistic analogies of fynbos re-emerging after fire, 2021’s State of the Nation Address made it clear that South Africa has a long, and largely undefined, road to recovery ahead. While defeating the coronavirus pandemic and state corruption featured highly, economic recovery took centre stage. The good news is this is one area in which help may be at hand from an often overlooked economic contributor: property…

Can you sell your exclusive use area? – 23 April 2020

EUAs comprises parts of the common property where specific owners enjoy exclusive use and enjoyment of these areas. The different types of usages allocated to EUAs include parking bays, storerooms, balconies, roof terraces, gardens and garages…

CAPE TOWN BOUTIQUE HOTEL TO GO UNDER THE HAMMER – 10 February 2021

The scheduled online auction of 40 Burg Street… a landmark heritage building in the centre of Cape Town, comes at a time when the city’s once-thriving traditional business hub faces a potential identity crisis.
This online auction which will close at 14:00pm (South African time) on Wednesday, the 17th of March 2021…

Changed Home Loan Disclosures Mooted – 11 April 2017

In the past three weeks [March/April 2017] we reported on the new Agricultural Land Holdings Bill and the Property Practitioners Bill. This week there is the Amendment Bill to the Home Loan and Mortgage Disclosure Act, also published in the past month…

Children’s Act – abr.

Author : Dykes, van Heerden – ATTORNEYS & CONVEYANCERS CHILDREN’S ACT MAJORITY AGE: Certain portions of the Children’s Act, Act 38 of 2005 came into operation on the 1 July 2007. Probably the most far-reaching provision in terms of the act, as...

Choose rental homes as carefully as your own – 28 January 2020

When buying an investment property, you should apply the same “rules” about location, condition and security as when buying a home for yourself. That’s the word from Berry Everitt, CEO of the Chas Everitt International property group, who says that volatile equity markets, relatively low interest rates and banks eager to lend on residential property have spurred an increase in buy-to-let purchases this year, in spite of slow rental growth rates.

City of Cape Town

THE NEWSLETTER FOR THE RESIDENTS OF CAPE TOWN Welcome to the City News – updated daily Read...

City of Cape Town – Contact Numbers

Useful contacts  ACCOUNTS (General enquiries & account enquiries) Telephone: 0860 103 089 Telephone: (overseas callers only) 021 401 4701 Fax: 0860 103 090 E-mail: accounts@capetown.gov.za ALCOHOL & DRUG 24/7 HELPLINE Telephone: 0800 HELP 4 U 0800 435 748...

City of Durban RSA

Welcome to the official website of the eThekwini Municipality [DURBAN] the City News – updated daily Read...

Civil Union Act – abr.

Author : Dykes, van Heerden – ATTORNEYS & CONVEYANCERS Civil Union Act, 2006: The Civil Union Act, 2006 came into effect on 30 November 2006, with the aim to provide for the solemnization of civil unions by way of either a marriage or civil partnership, the...

Claims Process and Litigation Against an Estate Agent

Author : Estate Agency Affairs Board [EAAB] CLAIMS PROCESS & LITIGATION: Estate Agency Affairs Board was established in terms of Estate Agents Affairs Act 112 of 1976. The Board is a legal person and can therefore sue or be sued on its own name. It has perpetual...

CO-OWNING A PROPERTY AND THE BOND – 12 July 2018

Whether for financial or other reasons, people often invest in property as co-owners, whereby each owns an undivided share in the property. Many such buyers take the sound precaution to draw up a co-ownership agreement…

COASTAL HOUSE PRICE INFLATION CONTINUES TO OUTPERFORM – 19 February 2021

The appeal of KwaZulu-Natal’s North Coast is increasing exponentially and home buyers – including those from Gauteng – are looking to make this scenic region their home, edging further northwards, particularly with new schools and commercial developments in the pipeline for these areas…

COMMENCEMENT OF BUSINESS RESCUE BY BOARD RESOLUTION – 19 May 2020

When thousands of South African companies shut their doors on 26 March, the sad reality was that many that would never open again. As the economic effects of the measures imposed to curb the spread of COVID-19 are being felt across the board, companies in financial distress are forced to examine their options. Chapter 6 of the Companies Act provides for a company or close corporation to enter into business rescue as an alternative to liquidation…

Community housing scheme rules also bound by Constitution – 7 April 2021

It is quite common for the trustees and directors of sectional title and other community housing schemes to want to change the conduct rules of their schemes in pursuit of a harmonious and co-operative atmosphere between residents, but they must be careful not to overstep the mark and end up with rules that are actually illegal…

COMPANY DEREGISTERED: WHO GETS THE OWNERLESS PROPERTY? – 19 February 2021

Matjhabeng Local Municipality v McDonald and Others (4075/2020; 4077/2020; 4078/2020) [2021] ZAFSHC 34 (19 February 2021)
Deregistration of companies failing to comply with statutory requirements has become the order of the day, and the consequences of bona vacantia (ownerless property devolving to the State) is real…

COMPLEX ELECTRICITY TARIFFS AND THE KNOCK-ON EFFECT ON LANDLORDS – 20 July 2020

With many South Africans working from home, residential users will be in for a shock when it comes to their electricity bills. The electricity tariff hikes came into effect from the 1st of July 2020 and these complex tariffs are not only frustrating, but they are hindering attempts by consumers to manage electricity costs at a time when, for most people, every cent counts…

COMPLYING WITH POPIA IS A BIG BUSINESS WORRY ONLY – 3 November 2020

POPI in the most simple terms sets out ways in which businesses must deal with the personal information that they hold. This includes personal details of their employees, as well as the personal details of their customers, clients and service providers, whether the customers and clients are individuals or other businesses/entities…

CONDITIONAL ACCEPTANCE OF OFFER – 29 APRIL 2016

You as seller are 99% happy with an offer presented to you by a potential purchaser, but one or two things still bother you. To make sure the deal is not lost, you make your desired amendments to the offer and then sign it…

CONSENT TO SUBDIVIDE AGRICULTURAL LAND: NO EASY HURDLE – 4 March 2020

Many agricultural land owners know of the limitations imposed on development of their land by virtue of the Subdivision of Agricultural Land Act. This judgment illustrates the difficulties such owners face and highlights what facts must be shown to appeal the Minister’s refusal of an application to subdivide…

CONSIDER THIS BEFORE CANCELLING A LEASE – 23 MAY 2016

To-ing and fro-ing in negotiations regarding alterations to premises before commencement of the lease period, lead the tenant in this matter to ultimately walk away from the deal as the premises appeared not to be ready for occupation on the lease commencement date…

Constitution Act 1996 – It`s Time for Change…

Author : Millers Attorneys THE CONSTITUTION ACT OF 1996 … ‘It’s Time for Change…’ Insurance contracts are frequently seen to have a clause that if a claim is repudiated, the insured has 90 days to institute action, failing which the...

Consultative Selling – Workshop [module 3]

Author :  Meryl Muller – Estate Agents Training Academy [EATA] CONSULTATIVE SELLING COURSE: ‘The Necessary Ingredients for Ongoing success’ This 1 Day Course is module 3 of the IEASA – WC “3 Module”Training Initiative Programme for:...

CONSUMER LAW

Author : Black Sash Publication CONSUMER LAW 1. What is Contract?2. The Law of Contract and Consumer’s Rights3. Ways of Selling and Buying4. Buying on Credit and Credit Agreements5. Debt Collectors6. Other Methods of Recovering Debt7. Friendly Societies8. Buying...

CONTAINER HOMES IN SOUTH AFRICA: HOW TO GAIN COUNCIL APPROVAL – 31 March 2021

The debate on container homes has gone back and forth for years. At face value, container homes are an obvious solution to addressing the affordable housing shortage and while the concept seems quite simple, there is still a large degree of uncertainty surrounding container homes with South Africans cautious to adopt the alternative building method head on…

Cooling-Off – Period for Purchasers

In terms of the Alienation of Land Act, fixed property can only be sold by way of a written agreement between a seller and a purchaser. The act was some time ago amended to afford purchasers a “cooling-off” right.

Court case looming over penalty/fee dispute? – 3 September 2020

The Estate Agency Affairs Board (EAAB) and industry watchdog Rebosa remain at loggerheads over the legal merits of penalising estate agents with hefty fees upon re registration with the EAAB after a period of absence and the registration fees required for principals…

Covid-19 : 21-Day Lockdown – 24 March 2020

Following the announcement from our President Cyril Ramaphosa of a 21-day lockdown commencing midnight on Thursday, 26th March 2020, STBB hereby advises as following: The Deeds Offices will close on the 26th March until further notice…

COVID-19 AND SUPERVENING IMPOSSIBILITY – 20 March 2020

Much has been written in the past few weeks on the effect of unanticipated occurrences on contractual obligations to perform. Here follows a brief discussion of the principle of supervening impossibility and some of the important case law that are relevant in the context…

CPA – New Laws Clamp Down On Sellers

Author : Agent – The Official Publication of the Estate Agency Affair 1 April 2008 CONSUMER PROTECTION ACT – New Laws Clamp Down on Sellers….. Act 68 of 2008 – What is envisaged

CPA 68 of 2008

CPA 68 of 2008 CONSUMER PROTECTION ACT 68 of 2008 Download...

CPA 68 of 2008 – Overview

Author : Andre van Greunen – VgV Attorneys, Notaries & Conveyancers NOTES ON CONSUMER PROTECTION ACT 68 OF 2008 1.PURPOSE OF THE POLICY OF ACT Forms the legal framework for a consumer market that is fair and responsible for the benefit of the consumer...

CPA Implications for Landlords – 21 June 2013

CPA Implications for Landlords:21 June 2013 The Consumer Protection Act (CPA) was signed into law on 24 April 2009 and has empowered the consumer and changed the way that businesses deal with their customers – including the relationship between landlords and tenants....

CREDIT LIFE INSURANCE – 30 April 2020

While the debt relief holiday announced by South Africa’s major credit providers was a welcome relief to many, there are alternative measures that very few South Africans are aware of, although they are already providing for them…

CSOS ANSWERS FREQUENTLY ASKED QUESTIONS BY MEMBERS OF COMMUNITY SCHEMES – 9 July 2020

On 23 June 2020 CSOS acting Chief Ombud, Ndivhuo Rabuli, published a directive and answers to 43 frequently asked questions that have bearing on homeowners’ associations and body corporates. The questions range from general questions to specific questions relating to registration of community schemes, levies and fees and annual financial statements…

DAMAGES CLAIM FOR AGENT PREVENTED FROM PERFORMING MANDATE – 31 MARCH 2016

Granting an exclusive mandate to an agent generally means that, for a determined period of time, the agent has the sole right to market the property and solicit offers in respect thereof. Where the seller breaches the provision, he may be liable to pay damages equal to commission to the agent who has been frustrated in performing his/her duties, as the interesting facts of this matter illustrate…

Dealing with a deceased’s immovable property – 7 November 2017

The legal requirements that ordinarily apply to the sale of land, also apply to property that is sold out of a deceased estate, namely that the agreement must be recorded in writing and be signed by both the seller and the buyer, either personally or by an agent authorised in writing to sign on that party’s behalf…

Debt Collectors Act 1998

DEBT COLLECTORS ACT 1998 An extract from: Estate Agency Affairs Board – DEBT COLLECTORS ACT The Debt Collectors Act :- There has recently been much polemic as to whether or not those estate agents engaged in the management and administration of rental property...

Default on Mortgage Repayments

Author : Homeloans SA DEFAULT ON BOND PAYMENTS Defaulting on your Home Loan It is an undisputable fact that many South Africans live above their means and with high interest rates and job losses, many South Africans fall behind with their home loan payments

DELAYED MUNICIPAL UTILITY BILLS – 13 FEBRUARY 2017

This judgment is an important acknowledgement of property owners’ rights when faced with large and delayed municipal utility bills. Here the owner received and paid water bills based on an estimated reading over a period of about 5.5 years…

Department of Justice & Const Develop of SA

Transparent, responsive and accountable justice services for all What’s New Address by Deputy Minister Jeffery at the Sheriffs’ Introductory Course (SIC) 100 [20 Jan] Master: Updated list of Records of Accounts for Estates [20 Jan] Draft Bill: Invite to Comment...

Deposits For Rental Agreements – 13 December 2016

The Rental Housing Act regulates the relationship between landlords and tenants and sets out clear terms for this relationship, as well as procedures to be followed in the event of a dispute arising between the parties…

DESPERATE TIMES, DESPERATE MEASURES FAIL – 8 February 2021

Motsima and Another v Kopa and Others (2122/2019) [2021] ZAFSHC 21 (8 February 2021)
A cash-strapped homeowner, fearing the bank will repossess his property, searched on Google for assistance. He found the assistance by way of the offer of a sale of his property and then a re-purchase thereof, within a certain period. ..

DEVELOPMENT LAW UPDATE | ISSUE 02 – 2020 (PART 2) – 11 November 2020

WHO LOGS IN ON THE GREEN BOND “TINDER” PLATFORM?
Green bonds have historically been issued by multilateral lenders such as the World Bank, the African Development Bank and the European Investment Bank. Increasingly, large corporates have joined in to increase market appeal to a broader investor group…

DEVELOPMENT LAW UPDATE | ISSUE 02 – 2020 (PART 3) – 11 November 2020

RECENT DRAFT AMENDMENTS TO THE SECTIONAL TITLES ACT: SOME FLEXIBILITY FOR DEVELOPERS
In September this year, suggested amendments to the Sectional Titles Act (‘STA’) were gazetted. Some of these affect developers directly and should provide more flexibility to amend sectional title plans at the time before the body corporate comes into existence…

DIGITAL SIGNATURES – LATEST CASE LAW! – 12 April 2021

Never before in our country’s history, have we seen a concerted effort in the property industry as we did, during levels 5 and 4 of lockdown, for estate agents; attorneys; sellers and purchasers to find “alternative methods” to sign sale agreements for land, when they had no access to printers and could not meet face to face as we are all accustomed to…

Disciplinary Process Against an Estate Agent

Author : Estate Agency Affairs Board [EAAB] Disciplinary Process: Lodging of a Complaint against an Estate Agent must be by way of completion and submission of a Complaint Initiation Form Consideration of Complaint & Investigation Acknowledge receipt of complaint;...

Disclosing Information – Estate Agents

Author : Estate Agency Affairs Board [EAAB] Seller’s liability for latent defects is always of interest to buyers, sellers and estate agents. As a guideline, attention is drawn to: Clause 4.1.1 of the Code of Conduct – which provides:- “an estate…

Disposal of residence

Author : CLIFFE DEKKER HOFMEYR Disposal of residence Published: 24 Oct 2012 Deadline: disposal before 1 January 2013 The Taxation Laws Amendment Act, No 7 of 2010, which came into operation on 1 October 2010, inserted Paragraph 51A of the Eighth Schedule to the Income Tax Act, No 58 of 1962, which widens the relief in respect of the disposal of a residence and imposes certain new conditions

Does an Owner Builder have to Register with the NHBRC? – 26 April 2016

The provisions of the Housing Consumers Protection Measures Act 95 of 1998 require home builders to be registered with the National Home Builders Registration Council and not to commence the construction of a home until they have been issued with a certificate of enrolment from the council…

Don’t Pay Double Commission! – September 2020

With many property sellers allowing multiple estate agencies to market their properties in their attempts to sell during what is still (for the moment at least) a buyer’s market, now is perhaps a good time to remind both sellers and buyers of the double commission danger…

DON’T RISK THAT YOUR BUSINESS BECOMES THE NEXT EXPERIAN – 21 August 2020

South Africa’s largest data breach has now been contained, according to the Experian credit bureau. During 24 to 27 May this year, it had released the personal details – including identity numbers, telephone numbers, physical and e-mail addresses of more than 23 million individuals and nearly 800 000 businesses – to an individual, now the ‘fraudster’, who presented himself as authorised to have that information…

EAAB – Latest Update – 31 May 2020

THE EAAB’S COMMITMENT TO CONTINUED SERVICE DELIVERY: IT IS TO BE NOTED – that the EAAB will not at this stage be opening its doors to the public or Property Practitioners on 08 June however, communications will be sent out and placed on the EAAB website advising the official date for reopening its doors…

EAAB COVID-19 Support Measures for the Real Estate Sector – 14 May 2020

The property industry is an important economic driver and as the regulator, the Estate Agency Affairs Board (EAAB), believes it is imperative that is pursues relief measures and offers assistance to mitigate some of the challenges its stakeholders are facing during this unprecedented outbreak…

EAAB didn’t renew PI cover for estate agents – 16 July 2020

It was recently confirmed that the professional indemnity cover, that the Estate Agency Affairs Board (EAAB) arranged for all estate agents in 2017, lapsed about a year ago and wasn’t renewed without the regulator informing the industry of this yet…

EAAB on: Property Practitioner Act No. 22 of 2019 – April 2020

On 03 October 2019 the President promulgated the Property Practitioners Act No. 22 of 2019 which brings about a very important era in the history of the real estate sector in South Africa. The Estate Agency Affairs Board (EAAB) welcomes this opportunity, and although it may bring about some challenges for the real estate regulator due to the expansion of its statutory mandate, the EAAB embraces the opportunity that is brings…

EAAB Whistle Blowers Hotline

The Estate Agency Affairs Board has a Whistle Blowers Hotline available for reporting of any “foul” play that you are aware of regarding trust monies, and irregular transactions that are being conducted

EAAB-Agents to Make Use of Mandatory Disclosure Form

Author : Agent – Official Publication of EAAB IMMEDIATE RELEASE 31 MARCH 2011 ESTATE AGENTS TO MAKE USE OF A MANDATORY DISCLOSURE FORM The Estate Agency Affairs Board (“EAAB”), mindful of the imminent coming into operation of the Consumer Protection Act,...

EAAB: WAIVER OF CONTINUING PROFESSIONAL DEVELOPMENT (CPD) FEES:

Subsequently, the EAAB published a communique citing that CPD fees for 2020 will be waived and that those estate agents who have already made payment towards their CPD fees will have their accounts credited for the 2021 financial year and will not be required to pay the CPD fees in the corresponding year…

EAAB: EDUCATION PRACTICE NOTES

It is essential that registered estate agents acquaint themselves with the content of the under-mentioned practice notes from time to time.The practice notes are invaluable to estate agents as they specify processes to ensure compliance with mandatory education and training requirements…

Education Regulation R633

Author : Estate Agency Affairs Board [EAAB] NEW EDUCATION REGULATIONS: GOVERNMENT NOTICE No. R. 633 on 4 June 2008 DEPARTMENT OF TRADE AND INDSTRY – ESTATE AGENCY AFFAIRS ACT,1976 SUBSTITUTION OF THE REGULATIONS RELATING TO THE STANDARD OF TRAINING OF ESTATE...

Effective cause of sale, but no commission – 2 August 2013

Author: SAFLII South African Legal Information Institute EFFECTIVE CAUSE OF SALE, BUT NO COMMISSION Tekenpraktyk CC v Erf 2720 Tzaneen (Pty) Ltd (20648/2012) [2013] ZAGPPHC 228 (2 August 2013) Summary of the judgement : [by STBB] An estate should caution not to assume that commission is payable simply because he was the effective cause of a sale…

Elected Domicilium addresses – 8 August 2020

One of the most common clauses that can be found in a contact is the so-called domicilium citandi et executandi clause. This clause, simply put, provides the addresses of the parties to the agreement, where they consent to service notices and pleadings in relation to that agreement…

Electrical Compliance Certificate

Author : Dykes, van Heerden – ATTORNEYS & CONVEYANCERS ELECTRICAL COMPLIANCE CERTIFICATE – A REQUIREMENT IN LAW: There is an obligation in Law that when property is transferred, there is in existence a valid electrical compliance certificate or the obligation to obtain an electrical compliance certificate.

Electronic Communications and Transactions Act 2001

ELECTRONIC COMMUNICATIONS AND TRANSACTIONS ACT 2002 To provide for the facilitation and regulation of electronic communications and transactions; to provide for the development of a national e-strategy for the Republic; to promote universal access to electronic...

Electronic signatures now legal for home sales? – 5 November 2020

A recent Eastern Cape High Court decision – Borcherds and Another v Duxbury and Others (1522/2020) [2020] ZAECPEHC 37 (22 September 2020) — has focused the law on the ever-increasing use of electronic signatures. Unfortunately, the judgement, instead of giving guidance and certainty, introduces confusion and doubt into this fast-growing category of technology…

Estate Agent Commission and VAT – 6 March 2018

The VAT increase coming into effect on 1 April 2018 triggered some tricky questions. One of these is the question what the VAT rate will be in the case of estate agent’s commission payable in respect of a mandate granted to the agent before 1 April 2018, where a sale is completed (all suspensive conditions fulfilled) after this date…

Estate Agents Duties

Author: EAAB Estate Agent Duties: [a guide for Consumers] When buying, selling or renting a property, you may decide to ask an estate agent to help you. An estate agent is a licensed person who must hold a current Fidelity Fund Certificate and should follow your...

Estate agents must embrace ongoing training and development – 25 April 2019

With the EAAB (Estate Agency Affairs Board) clamping down on agents trading in the real estate industry who have not renewed or ever applied for their Fidelity Fund Certificates (FFC), as well as disqualifying agents for noncompliance with their Continuing Professional Development, it is now more important than ever to insist on continuous training as an essential part of operating within this industry.

Expatriates and South African tax laws – 4 February 2021

Many hundreds, if not thousands of South Africans depart annually in search of greener fields abroad. Most of these expats retain their South African citizenship and live undisturbed with a work VISA issued by the foreign country…

Expatriates and South African tax laws – 4 February 2021

Many hundreds, if not thousands of South Africans depart annually in search of greener fields abroad. Most of these expats retain their South African citizenship and live undisturbed with a work VISA issued by the foreign country…

EXPROPRIATION BILL 2020 SUBMITTED TO PARLIAMENT – 12 October 2020

The bill, which is set to replace the Expropriation Act of 1975 consistent with the Constitution was gazetted on the 9th of October 2020. The bill forms part of the work that government is undertaking to ensure that a comprehensive land redistribution for agricultural purpose, human settlements and industrial development is implemented…

Factors that Affect Interst Rates

Author : Homeloans SA FACTORS THAT AFFECT INTEREST RATES Which Factors Affect the Interest Rate on Your Home Loan There are a number of factors that influence the rate you are being charged on your Home Loan. We look at what we call external factors

FFC IN NAME OF COMPANY, NOT CC: NO COMMISSION – 25 NOVEMBER 2016

An estate agent’s Fidelity Fund Certificate (FFC) is a prerequisite for the agent to operate and earn commission. The law requires further that where the agent is a company or close corporation (CC), a FFC is required for both the company or CC and the directors or members…

FINANCIAL INTELLIGENCE CENTRE ACT [FICA] and IDENTIFYING SUSPICIOUS & UNUSUAL TRANSACTIONS – 2020

The purpose of the Financial Intelligence Centre Act (“FICA”) is to combat money laundering activities by, amongst other things, establishing a Financial Intelligence Centre (“FIC”) and imposing certain duties on all persons carrying on a business or who is employed by a business. Money laundering can be described as the performing of any act which may result in concealing the nature, source, location or movement of the proceeds of unlawful activities or any interest that anyone may have in such proceeds…

Foreign Buyers and Home Loans

Author : Homeloans SA Foreign Buyers and Home Loans in South Africa An increasing number of foreign buyers, also known as non-residents, have been buying property in South Africa over the last number of years. South Africa is seen as a sought-after investment opportunity by many foreigners

Foreign Marriages – 26 January 2016

When persons of different nationalities marry, or South African citizens get married abroad, it triggers our law’s rules relating to domicilium, in terms of which it is determined which country’s laws apply to the marriage…

Four tips for being a smart renter – 30 April 2020

Most of us will be a renter at some point during our lives. It may be a stepping stone for somebody leaving their parents’ home for the first time. Or, you may choose to be a renter rather than a home-owner for the long term simply because of the appeal of the flexibility and lower short-term costs that come with being a tenant. As a tenant, there are various tips and strategies to follow to safeguard yourself…

Fractional Ownership

Fractional Ownership based on the ownership of undivided shares in a property as opposed to shares in a company or member’s interest in a CC

Funds transferred to wrong account – can you keep it? – 18 May 2020

In the case of NISSAN SOUTH AFRICA (PTY) LTD v MARNITZ NO AND OTHERS (STAND 186 AEROPORT (PTY) LTD INTERVENING) 2005 (1) SA 441 (SCA), an amount of R12,767,468.22 was paid into the wrong bank account due a clerical error by the bank, making this dream come true for Maple Freight CC (“Maple”)…

GAUTENG SHOWS HIGHEST LEVEL OF FINANCIAL PRESSURE-RELATED SELLING IN COMMERCIAL MARKET – 21 September 2020

FNB Commercial Property Broker Survey for the third quarter of 2020 surveys a sample of commercial property brokers in the six major metros of South Africa i.e. the City of Johannesburg and Ekurhuleni (Greater Johannesburg), Tshwane, eThekwini, City of Cape Town and Nelson Mandela Bay.
The survey focuses on the key drivers of movement and sales activity in owner-serviced properties and the results show financial pressure to still be by far the biggest single driver…

Getting Your Home Loan Approved

Author : Homeloans SA What is required to get Your Home Loan Approved in Todays Market When you look at the most recent statistics of home loans approved in South Africa the answer to the question, “What is required to get a home loan approved today?”

Good Time to Buy Property

Author : Homeloans SA GOOD TIME to BUY PROPERTY The Best Time to Buy a Property is when Media Reports, refer to the Property Cycle, as a “Buyers Market”. The Principle of “Supply and Demand” directly influences the situation.

Good Time to Sell Property

Author : Homeloans SA The Best Time to Sell a Property is when Media Reports, refer to the Property Cycle, as a “Sellers Market”. The Principle of “Supply and Demand” directly influences the situation

GUIDES FOR TENANTS, LANDLORDS AND SECTIONAL TITLE OWNERS

These housing guides, explaining the rights and duties, the resources and recourses, of tenants, landlords and sectional title owners, were developed by Yeoville Studio in collaboration with the Socio Economic Rights Institute (SERI)…

GUIDES: The value of a deposit when buying a home – 23 August 2019

In a world of instant gratification, the idea of delaying a home purchase until you’ve saved up a deposit sounds positively antiquated to many people – but there’s nothing old-fashioned about the amount of money to be saved by doing just that, says Rudi Botha, CEO of BetterBond…

Has Covid-19 triggered a fundamental shift in SA’s housing market? – 18 August 2020

The near-universal lockdown of global economies earlier this year as governments attempted to contain the coronavirus is unprecedented, with the social and economic consequences of the initial lockdown and subsequent gradual easing of restrictions still unfolding, making predictions in terms of the economy – and South Africa’s housing market – extremely difficult. The level of activity in the housing market in the months since real estate agencies were allowed to reopen (1 June 2020 at Level 3) surprised market analysts…

HELPING YOUR CHILDREN ONTO THE PROPERTY LADDER – 1 March 2021

Getting onto the property ladder is one of the most important financial investments for younger generations. But, with the average age of South African first-time buyers around thirty-six, young adults may be struggling to raise funds for a deposit for their first home or, they may be nervous about making such a big financial commitment…

High Court rules no FFC no commission – 9 January 2019

No FFC no claim to sue for commission ruled acting Cape Town High Court judge Diane Davis on 12 December 2018 – a ruling that has thousands of agents worried as this directly impacts their income while still awaiting the Estate Agency Affairs Board (EAAB) to issue their FFC’s for 2019.

Higher incomes needed for home loans

Author : CEO – Shaun Rademeyer – BetterBond Home Loans Higher incomes needed for home loans12 Dec 2013 According to the latest statistics from BetterBond Home Loans, home buyers in South Africa now need to earn a gross monthly income of around R30 000 to buy an average home costing some R952 000

HIPSTURBIA – A GENERATIONAL PROPERTY TREND – 10 November 2020

With a vast number of factors influencing where and how we choose to live, one of these is most certainly when we were born and, the context in which we grew up. Millennials, between the ages of twenty-four and thirty-nine, account for almost 30% of the total population according to Statistics SA, representing the largest generation to enter the country’s workforce (51%)…

History of Prime Overdraft Interest Rates

Bank Lending Rate in South Africa averaged 12.29 percent from 1957 until 2018, reaching an all time high of 25.50 percent in August of 1998 and a record low of 5.50 percent in December of 1962.

The current Bank Lending Rate is 9.75% as at: 16 January 2020

Home Loan Process

Author : Homeloans SA The Home Loan Process Purchasing a property and home loan applications can be a very stressful and lengthy process. To help you understand it better we listed below the entire process and who is involved…

House prices falling despite increased demand – 23 June 2020

According to Multinet Home Loans, the bond originator has seen an unprecedented increase in home loan submissions since the Level 5 lockdown in April. Multinet Home Loans has seen a 36.57% increase in submissions vs 2019 numbers in June, whilst home prices have shown a real decline of 12% in June so far, taking predicted inflation into account…

HOUSEHOLD MORTGAGE ADVANCES SHOWING EARLY SIGNS OF ACCELERATION – 2 November 2020

The commercial property-driven corporate mortgage advances growth rate has significantly outpaced the strongly residential driven household mortgage advances category since early 2014. However, the strong recent divergence in strength between the now relatively strong residential property market and the weaker commercial property market may see household mortgage advances become the relative ‘outperformer’ in the near term…

Housing Act 107 of 1997

To provide for the facilitation of a sustainable ho~fig development process; for this purpose to lay down general principles applicable to housing development in all spheres of government, to define the functions of national, provincial and local governments in respect of housing development and to provide for the establishment of a South African Housing Development Board, the continued existence of provincial boards under the name of provincial housing development boards and the financing of national housing programs, to repeal certain laws; and to provide for matters connected therewith…

Housing Consumers Protection Measures Act 95 of 1998

Author : Millers Attorneys Housing Consumers Protection Measures Act 95 of 1998 1. One of the purposes of the Act is to make provision for the protection of housing consumers. It also creates the NATIONAL HOME BUILDERS REGISTRATION COUNCIL (NHBRC), whose objects are,...

Housing Consumers protection Measures Act 95 of 1998 (part2)

Author : Millers Attorneys Housing Consumers Protection Measures Act 95 of 1998 (part 2) Financial assistance to housing consumers: 1.The Act obliges the NHBRC to establish a fund to provide assistance to housing consumers under circumstances where a home builder...

HOW REAL IS YOUR RIGHT – 25 May 2020

The allocation of rights to the exclusive use of a part or parts of a sectional title scheme’s (“scheme”) common property is somewhat of a contentious topic in communal living in South Africa…

How to Buy a Property on Auction

Author : Homeloans SA How to Buy a Property on Auction When we hear that a property is being sold on auction the first thing that comes to mind is that it’s a sale in execution – where the owner could no longer afford the bond repayments. But times have changed and our assumptions may be rather incorrect

How to cancel your fixed-term contract

Author : Lauren Hastie – BOUWER KOBELI MORABE 7 August 2012 How to cancel your fixed-term contract in terms of the CPA Section 14 of the Consumer Protection Act 68 of 2008 (the “CPA”) limits the duration of a fixed term agreement to 24 (twenty four) months....

HOW TO DEAL WITH DEFAULTING LEVY PAYERS – 26 November 2020

All the members in a sectional title development contribute to the scheme’s income which is used to pay its expenses. This may seem simple in theory but when a member starts falling behind in their levy payments, it can quickly escalate and put the scheme under financial strain…

How to replace a lost or destroyed title deed… – 25 January 2021

A title deed is a document that serves as proof of legal ownership over a property, and is important for the transfer of property. Regulation 68 of the Deeds Registries Act 47 of 1937 sets out the process that needs to be followed when one has lost or destroyed a title deed or mortgage bond…

HOW TO SELL IN A BUYER’S MARKET – 30 SEPTEMBER 2019

In a buyer’s market, the number of homes up for sale is much larger than the number of prospective buyers looking to purchase. This means that sellers are less likely to fetch their full asking price and are more likely to wait longer for their home to sell…

I AM ACTING FOR OUR FAMILY TRUST: WARNING BELLS – 16 April 2020

What powers do you have to defend and raise actions in a court as trustee of a family trust, or of any other trust? Trustees should be mindful to follow the trust deed in all regards; and where the deed is silent on this aspect, trustees must act in unison…

I DIDN’T KNOW VAT IS PAYABLE! CAN I GET OUT OF SALE? – 1 AUGUST 2016

Modern laws brim with many safeguards for consumers, also in execution sales where both the Rules of Court and the Consumer Protection Act are relevant. Against the background of these provisions, the question that arose in this matter was whether the consumer rights of a successful bidder at an execution sale were denied by the fact that the sheriff did not inform him that VAT would be payable, despite the sale conditions noting that the purchaser will be liable for the costs of transfer…

I Was Awarded The House In My Divorce – 13 November 2018

When X, recently divorced, approached her conveyancer with an instruction to register transfer of the property that was awarded to her in the divorce settlement, she was speechless when she was advised that transfer duty will be payable…

Illegal Eviction – August 2002

AUTHOR: The S Does the Prevention of Illegal Eviction from and Unlawful Occupation of Land Act 19 of 1998 afford the former owner of land protection against eviction, where he or she refuses to vacate the property after the bondholder has foreclosed and sold the property in execution to a new owner?

Implications of Cash-Dominated Transactions for Money Laundering

Author: Article by: ISS, Institute for Security Studies Implications of Cash-Dominated Transactions for Money Laundering (October 2012) Money laundering has traditionally been associated solely with banks. Action to combat money laundering has therefore focussed on...

In Times of Great Change, Make Sure Your Will is Updated ! – May 2020

Particularly in these times of pandemic, deadly infections and uncertainty, no one can ever say with any confidence that we will still be alive tomorrow, or next month, or next year. Now more than ever having a valid and updated will in place is no luxury to be attended to “when I have the time” or “when I am older”…

Instalment Sale Agreements

An installment sale agreement is an agreement of sale of land as defined in terms of the Alienation of Land Act, 1981 used or intended to be used mainly for residential purposes and in terms of a contract as defined in terms of the Alienation of Land Act, 1981 in terms of which the purchase price is paid to the seller by way of more than 2 (two) installments over a period of longer than 1 (one) year but no more than 5 (five) years.

Interception of Communication Act 70 of 2002

Author : Millers Attorneys Interception of Communication Act 70 of 2002 The so-called Interception Act has been assented to but yet has to come into operation. The Act regulates the extent to which individuals and corporations may lawfully intercept and monitor their...

Is buying off-plan the best avenue to enter the property market? – 25 May 2020

Buying property off-plan is a great way for first-time homebuyers to get a foot on the property ladder. It comes without transfer duty as there is no prior owner, and the VAT is included in the purchase price. For these same reasons, it is also an appealing option for someone looking to purchase an investment property that can be rented out to generate income…

It’s my life right? – 7 January 2020

Retirement Villages are trending on the property front and potential Life Right Holders are spoilt for choice when it comes to choosing where to settle down for their retirement…

Just change the rules! – 25 July 2017

Pete and Jane own a sectional title unit in a quiet residential scheme. With their children away on gap years and studies, and with a view to bolstering their retirement savings, they decide to make the now empty accommodation available as Airbnb rental…

Just how enforceable is an Agreement?

Just how enforceable is an Agreement? When two or more parties agree about something, they must respect the agreement, irrespective of what happens.

Key changes proposed for complexes and sectional titles in South Africa – 10 March 2021

Parliament’s portfolio committee on Agriculture, Land Reform and Rural Development has called for written comment on the Sectional Titles Amendment Bill.
The bill introduces a number of additional regulations which largely relate to the management and development of schemes including extensions and common property – with tenants and trustees less likely to be impacted…

LAND EXPROPRIATION – FRIEND OR FOE? – 26 October 2020

Earlier this month, Cabinet approved the Expropriation Bill and sent it to Parliament for adoption. This prompted a revived deluge of negative press, fears of government-approved land grabs and visions of a fast forward to Zimbabwe-style land losses. No such perceptions are warranted or correct, as the short discussion below highlights…

LAND INSTALMENT SALE: NO RECORDAL, NO DEBT ARISING? – 23 FEBRUARY 2017

Where property is sold in an instalment sale agreement, our law requires the contract to be recorded within a certain timeline against the property’s title deed, essentially to protect the purchaser should the seller try to sell the property to a third party without the instalment-paying purchaser’s knowledge…

Land Titles Adjustment Act 111 of 1993

To regulate the allocation or devolution of certain land in respect of which one or more persons claim ownership, but do not have registered title deeds in respect thereof and to provide for incidental matters…

Landlord’s Lien or Hypothec

Movable goods on rental premises fall under the landlord`s lien or hypothec. The rental is secured by the lien/hypothec in favour of the landlord over all movable goods on the premises. This right may only be utilised when the tenant is in arrear with his rental

LAPSED OFFER AS BASIS FOR NEW SALE: THINK TWICE – 7 DECEMBER 2016

An interesting conundrum arose in this matter. The seller and buyer renegotiated an agreement after the buyer’s first offer lapsed. The later agreement was based in main on the provisions of the lapsed offer but, in an attempt to avoid complication, they backdated the agreement so that it fell within the initial offer’s acceptance period…

Leaders: How to stop panicking… and carry on – 20 April 2020

Working from home is the new corporate way of doing business as lockdowns and quarantines continue in several countries across the world in a bid to curb the spread of the coronavirus. As employees adapt and settle into making one location a place of recreation and professional productivity, some are adjusting to working harder than they ever have because of panicked leadership…

Leases, Contracts and COVID-19: What is Force Majeure? – May 2020

The COVID-19 crisis has changed everything. Our personal lives have been upended and our businesses hit hard.
And with many businesses operating out of leased premises, a great many landlords and tenants are asking themselves what happens if the crisis leaves a tenant unable to pay the agreed rental…

LESSER BOND AMOUNT OBTAINED BUT BALANCE SECURED ON TIME – SUSPENSIVE CONDITION FULFILLED? – 30 April 2018

Property practitioners know that the details of a suspensive condition must be met to the tee for the condition to be considered fulfilled. In this matter, this was the essence of the enquiry, being: if a sale agreement is subject to a suspensive condition that the purchaser must secure a 100% bond by a stipulated date, and the purchaser secures only a 90% bond but pays the balance in cash within the due period, has there been compliance?…

LEVEL 3 NEWS – 29 May 2020

The new regulations relating to Level 3 arrangements have been published. Note that these new regulations do not repeal the 29 April 2020 regulations and these must therefore be read together to get the full picture…

LEVEL 3 REQUIREMENTS FOR ESTATE AGENTS – 31 May 2020

Since the good news that many businesses may again operate under the Level 3 regulations that become effective on 1 June 2020, many questions have been raised by agents as to their responsibilities. Here is a list of important requirements:…

Lockdown Lessons: Slow return anticipated to a new-normal – 8 May 2020

As part of our # Lockdown Lessons series, Bizcommunity is reaching out to South Africa’s top industry players to share their experience of the current Covid-19 crisis, how their organisations are navigating these unusual times, where the challenges and opportunities lie, and their industry outlook for the near future…

Lockdown! Nuisance Neighbours and How to Handle Them – June 2020

Tensions between neighbours are no doubt at an all-time high, and whether you are working from home or just trying to stay sane until our “new normal” starts kicking in, you are no doubt noticing more than ever all those little irritants from next door that would normally fly below your radar or at least be tolerable…

MANDAMENT GRANTED AGAINST PROSPECTIVE TENANT – 6 September 2019

The mandament van spolie is a remedy that ensures the restoration, before all else, of unlawfully deprived possession to the possessor. A classic example is that in certain circumstances, even a thief may use this remedy to hold onto goods, if the deprivation occurred unlawfully. This matter deals with the application of this principle, where a prospective purchaser and tenant moved into premises before an agreement was concluded…

MARITAL STATUS: AVOID THESE PITFALLS WHEN CONCLUDING AGREEMENTS – 19 FEBRUARY 2019

Most people are generally aware that in some large transactions, if they are married in community of property, they require the consent of their spouse. Less are aware that without such consent, the property transfer or donation could be invalid; and even fewer are aware of the fact that where a third party transacted with such a spouse in good faith, it is possible that the law will deem that there was consent…

MASTER BUILDERS’ OCCUPATIONAL HEALTH & SAFETY COMPETITION RETURNS IN 2021 – 3 March 2021

Ensuring companies comply with Occupational Health and Safety (OHS) requirements is crucial to reducing the chances of injuries and saving lives in the on-site construction industry. Since the onset of Covid-19, OHS regulations have evolved to include necessary measures to mitigate against the effects of the pandemic and these precautions are necessary for the building and construction industry to operate effectively…

Matrimonial Property Act 88 of 1984 … some info

Matrimonial Property Act 88 of 1984 … Questions and answers: What is the Matrimonial Property Act? Matrimonial property is property owned or obtained by either or both married spouses before or during their marriage. It is sometimes called ‘matrimonial...

MC Compliance and Legal Solutions…

OWNER: Melanie Coetzee
Is skilled in: Real Estate Transactions, Marketing, Investment Properties, Investments, Rentals, Conveyancing, Negotiation, Real Estate Development, Real Estate, Leases, Property, Business Strategy, Sales, Sellers, Landlords, Foreign Investment, Residential Homes, Property Management

A Legal, Real Estate and Related Industries – Trainer and Educationist

METHODS FOR CALCULATING CAPITAL GAINS TAX: – June 2020

If a gain is made on the disposal of immovable property, then a tax is levied against such gain. When identifying the appropriate method for calculating Capital Gains Tax in a specific situation, regard must be had to the date on which the property was acquired by the Seller thereof, as this will have implications on such calculation…

Mortgage Bond Insurance

Author : Homeloans SA BOND INSURANCE Is Life Insurance Compulsory when taking out a Bond When you buy a house and obtain finance in the form of a Home Loan, the bank will make it a condition of grant that you have Homeowners Insurance

MUSLIM MARRIAGES: NOW AND THE YEAR 2022 – 18 December 2020

President of the RSA and Another v Womens Legal Centre Trust and Others; Minister of Justice and Constitutional Development v Faro and Others; and Minister of Justice and Constitutional Development v Esau and Others (612/19) [2020] ZASCA 177 (18 December 2020)

In an important judgment handed down by the Supreme Court of Appeal in December 2020, it was acknowledged that our law’s treatment of the religious marriages concluded in terms of Shariah law has many negative consequences for spouses and children in those marriages

MY PROPERTY, IN HER NAME – 25 MAY 2016

Who is considered the ‘owner’ of a property that was bought here by a foreigner, but registered in the name of his South African partner because he was made to believe that he could not, as a foreigner, obtain registration in his own name?…

National Credit Act – NCA

Introduction to the National Credit Act Credit is one of the cornerstones of modern capitalism that lubricates the economy and promotes commercial activity. However, credit enables people to spend money they don’t have, spend more money than they earn, use...

National Credit Act – NCA – abr.

Author : Dykes, van Heerden – ATTORNEYS & CONVEYANCERS NATIONAL CREDIT ACT: INTRODUCTION The National Credit Act (hereinafter referred to as “the NCA”) was passed by Parliament on the 10th of March 2006. The main provisions of the Act came into effect on the 1st of June 2007

NATIONAL CREDIT ACT [NCA] – CONSUMER RIGHTS

Author : Homeloans SA The NCA: Banking Consumer Rights in a Nutshell One of the most important contributions made by the National Credit Act is that it defines our rights as banking consumers. Before the NCA, the banks did not have to share your credit check...

Navigating property finance in the current economic climate – May 2020

With lockdown and its economic fallout causing untold damage to the economy, more and more South Africans are finding themselves on unpaid leave, reduced salary packages or laid-off entirely. This is placing many homeowners under severe stress when it comes to keeping up with their mortgage repayments and could well be deterring new buyers from entering the market as well…

NCA – About the NCA

Author : Homeloans SA The NCA In A Nutshell The National Credit Act 34 of 2005, which was implemented on the 1st of June 2007, is a voluminous affair. The NCA itself is 116 pages long and the Regulations that apply to it, a further 168 – more than most consumers would volunteer to digest under normal circumstances

NCA – Property and the NCA

Author : Homeloans SA NCA: The Bane of Property Investment The National Credit Act (NCA), since its inception, has been controversial. Quite nobly, the NCA was intended to safeguard consumers from exploitative lending practices and to prevent over indebtedness

NCA Amendment: Why so controversial? – 27 August 2019

The controversial National Credit Amendment Bill was signed into law last week. It provides for special debt relief measures for over-indebted consumers who earn R7 500 per month or less and whose unsecured debt does not exceed R50 000…

NCA and How it Will Affect Your Home Loan App

Author : Homeloans SA The National Credit Act and How It Will Affect Your Home Loan Application. A Blessing or a Curse? The National Credit Act was anticipated with mixed feelings and, when it was implemented on the 1st of June 2007 and was received with mixed feelings

NCA and the Homeloan Market

Author : Homeloans SA The NCA and How It Affects the Home Loan Market The culprit is… The decline in the property market has been blamed on many factors such as the world-wide recession, the high interest rates, inflation and also on the National Credit Act (NCA)

NEIGHBOURHOOD MALLS WILL REMAIN RESILIENT – 20 January 2021

Retail is a function of the South African economy that is struggling but there are defensive segments in the retail sector that are responding valiantly. With an urgent and essential response to the pandemic, we are now seeing the more gradual change – the consequence of constantly morphing property dynamics…

NERSA withdraws private generator rules – 22 May 2018

NERSA withdraws private generator rules The National Energy Regulator yesterday withdrew the draft rules, published in April 2018, that sought to introduce licencing of every form of home electricity generation, including solar photo-voltaic (PV) panels and backup generators…

NEW EDUCATION DISPENSATION for ESTATE AGENTS:

Author : Estate Agency Affairs Board [EAAB] New Education Dispensation for Estate Agents The new outcomes based educational framework for estate agents is contained in the Regulations Relating to the Standard of Training of Estate Agents which was published in the...

New recovery textbook needed for post-Covid real estate landscape – 17 June 2020

Clawing back from the devastating global cascade of the sub-prime collapse of 2008/09, the real estate market had a tried and tested economic textbook roadmap and traditional real estate models to successfully guide the process. However, as the modern business world has never had to contend with a global pandemic, the real estate industry, still adapting to digital and millennial disruptions, is going to have to write a new recovery textbook, says Yael Geffen, CEO of Lew Geffen Sotheby’s International Realty…

New regulations as South Africa waits for updated lockdown plan – 21 April 2020

Government has published a number of new and revised regulations as the country waits to hear its plan around lifting the five-week-long countrywide lockdown. President Cyril Ramaphosa met with his cabinet on Monday (20 April) to finalise a set of measures to respond to the impact of the lockdown as well as plans for the country once the lockdown is lifted…

New vision for real estate in which all can win – 8 June 2020

The real estate industry will no doubt look very different by the end of this year to the way it looked before the Covid-19 pandemic – but in many cases, the changes made will be extremely positive for estate agents and principals as well as their clients because of the potential for both better service and greater rewards…

NO FFC, NO COMMISSION – UNLESS YOUR DUCKS WERE IN A ROW – 17 June 2020

In accordance with the Estate Agency Affairs Act 112 of 1976, Estate agents are not entitled to earn commission on transactions they negotiated successfully if they were not, at the time of conclusion of the agreement, in possession of a valid Fidelity Fund Certificate…

However, In an important judgment handed down by the Supreme Court of Appeal last week, it was held that in certain very narrow instances, an estate agent will not be precluded from claiming commission where the Fidelity Fund Certificate was not in place at the relevant time…

NOT A TRIFLE TO WALK AWAY FROM A SALE – 4 FEBRUARY 2016

A purchaser, disenchanted with the rate of completion of extras in the equestrian estate in which he invested, sought to cancel the agreement as a result. The court was asked to determine, almost six years after signing the sale agreement, whether he could do so when no date was stipulated by when the extras in the development should be completed…

Notice to Tenants

Author : Millers Attorneys Notice to Tenants The question often arises as to how and for what period notice should be given to terminate a lease. Although there are some legal guidelines the answer depends on the circumstances and therefore each case should be judged seperately

Now is the time to buy – but don’t leap before looking – 24 March 2021

With interest rates at record-breaking lows, property prices subdued but poised for a future upswing, and plenty of stock on the market to choose from, there has seldom been a better time to buy a home. Despite the enviable prospects, however, buyers should be cautious not to throw caution to the wind…

NQF 4 and NQF5 Exemption Matrix

Author : Estate Agency Affairs Board [EAAB] ESTATE AGENCY AFFAIRS BOARD – Equivalency / Exemptions Matrix for: FETC Real Estate NQF level 4 and NC Real Estate NQF level 5 Qualifications All tertiary qualifications that are presented for equivalency purposes must...

OCCUPIER’S CONSENT TO EVICTION NOT THE END OF THE ENQUIRY – 8 JUNE 2017

The Constitutional Court held in this matter that even where there was a purported consent by an illegal occupier to eviction, this did not absolve the Court from its duty to consider all the relevant circumstances and satisfying itself that it is just and equitable to grant the eviction order…

Offer to Purchase

Author : Homeloans SA Making an Offer To Purchase The Offer to Purchase is not only an important milestone in any property transaction, but also constitutes an important document – one that should not be taken lightly at all

ONE MESSY TRIO: SELLER’S SARS WOES; DOUBLE SALE; 1ST PURCHASER REFUSING TO VACATE – 23 April 2020

Narainsamy and Others v Nel and Another (15281/2014) [2020] ZAKZPHC 5 (28 February 2020)
Living in an upmarket unit in central Cape Town almost for free for approximately six years due to the seller’s inability to procure SARS clearance for the transfer, this judgment deals with the purchaser’s resistance to an eviction when the property was subsequently sold and transferred to a third party…

Option to renew – 19 August 2020

Many lease agreements contain a clause granting the tenant an option to renew the lease after the expiry of the initial term. The clause will usually specify that the tenant may, before the contract term ends, exercise his/her option and in so doing renew the agreement for a further period…

ORAL AGREEMENT: OPTION TO PURCHASE VS PRE-EMPTIVE RIGHT – 27 August 2019

In 2017 the Constitutional Court declared that a pre-emptive right to purchase property need not be reduced to writing in order to be valid. This was because a right of pre-emption gives the holder thereof no right to claim transfer of land; it merely gives him a right to enter into an agreement of sale with the grantor, should the latter wish to sell…

ORAL MANDATES VALID BUT RISKY – 29 May 2020

The protracted skirmishes between a seller and estate agent evidenced in this judgment illustrate the difficulties that
arise when a mandate is not reduced to writing, confirmed via email or text message, or recorded in any other way.
Pather v Wakefields Real Estate (Pty) Limited (AR82/2016) [2020] ZAKZPHC 16 (29 May 2020)…

Outstanding Tax

The Receiver of Revenue do a risk analysis regarding outstanding taxes on both the transferor and the transferee on all transfer transactions…

Paying Off A Home Loan Sooner …

Author : Homeloans SA Paying Off Your Home Loan Sooner. 20 years is a very long time and 30 years is even longer. In fact, 30 years is half of our adult lives. Many homeowners will be spending that entire time repaying their single largest debt: The Home Loan

Plan for Capital Gains Tax

The introduction of Capital Gains Tax in the Income Tax Act as from 1 October 2001 will have a significant effect on the estates of all persons dying after that date. The event of death will trigger the capital gains tax and this can cause cash deficiencies in deceased estates.

Play Open Cards in a Sale -19 April 2016

If A sells her river-fronting property to B, knowing that the existence of water rights is crucial to B for his intended small scale farming operations, and withholds important information regarding water availability, such fraudulent misrepresentation can, depending on the circumstances, mean the end of the agreement or allow B to claim a reduced purchase price…

Pleading Ignorance can be an Excuse – Beware of what You Sign

Author : Millers Attorneys Pleading Ignorance can be an Excuse (It Seems) Although a person is normally considered to be bound by that which he signs (under the common law rule of caveat subscriptor – “beware of what you sign”) – which includes...

Plumbing Certificate

PLUMBING CERTIFICATE: A REQUIREMENT FOR PROPERTY TRANSFERS IN THE CITY OF CAPE TOWN: The City of Cape Town recently passed a by-law in terms of which it is required that a plumbing certificate issued by an accredited plumber is emailed to Council prior to registration of transfer.

POPI AND PRIVACY PROTECTION – 3 July 2020

What POPI is about. Personal information being gathered and what it is used for and how and when it is discarded after it has been used, and ensuring it was used for a legitimate purpose. (Personal information in this context is specifically what is referred as “identifiable” information, in other words a telephone number with a name, an ID number with a name/address.)…

POPI IS FOR BIG BUSINESSES TO WORRY ABOUT – 3 November 2020

Consulting with business owners who, when considering their compliance responsibilities, react thereto in love-hate terms. On the one hand, there is a positive response where compliance is constructively applied to the business’ own day-to-day running procedures and management. On the other hand, it appears less rosy where it is presented as a must-do red tape exercise, with a threat of financially damaging penalties for non-compliance imposed by government…

POPI SHORTLY IN OPERATION – 22 June 2020

President Cyril Ramaphosa today announced the commencement dates for most of the remaining parts of the Protection of Personal Information Act. The Act has been put into operation incrementally, with a number of sections having been implemented in April 2014 already. Most of the remaining provisions could only be put into operation at a later stage as they require a state of operational readiness for the Information Regulator to assume its powers, functions and duties in terms of the Act…

Possible confusion regarding Provisional Tax penalties explained

Author : Piet Nel, SAICA’s Project Director. Possible confusion regarding Provisional Tax penalties explained: The South African Institute of Chartered Accountants (SAICA) has observed that there is some confusion in the market place regarding the penalties…

PRE-EMPTIVE RIGHTS: ‘IN WRITING’ NO LONGER A REQUIREMENT? – 24 July 2017

It has for long been a rule of our law that pre-emptive rights relating to the sale of immovable property must be in writing in order to be valid and binding. In finding in this matter that the granting of a pre-emptive right is not an ‘alienation’ and therefore needs not comply with the “in writing and signed” requirements of the Alienation of Land Act, new considerations sprout…

Predictable outcome as interest rate holds steady – 25 March 2021

The Monetary Policy Committee (MPC) has again announced that interest rates will remain stable, keeping the repo rate at 3.5% and the prime lending rate at 7%. This was a predictable outcome and, unless things take an unexcepted turn, interest rates are likely to remain steady for the remainder of the year…

PREVENTION OF ORGANISED CRIME ACT NO. 121 OF 1998 [POCA]

To introduce measures to combat organised crime, money laundering and criminal gang activities; to prohibit certain activities relating to racketeering activities; to provide for the prohibition of money laundering and for an obligation to report certain information….

Property investment – to sell or not to sell – 5 August 2020

Every investor will at some point be confronted with making a decision on whether or not to sell a long-term asset such as a property. This can sometimes be a challenging decision for an investor, more so for a novice investor, amid tough economic times…

Property may not notice short-term impact of recent repo rate cut – 22 May 2020

The recent repo rate cut of 50 basis points brings the cumulative repo rate reduction in the current rate cutting cycle to 3 percentage points. Meaningful property demand boost emanating from interest rate cutting specifically is not expected, but it is still believed to be an important source of support for the property market.

Property Ownership Options

Author : Homeloans SA When you want to buy property in South Africa, such as a free standing house, a unit in a complex or a flat, you have various options available to you with reference to the type of ownership. The most common form of ownership is freehold but we also have sectional title, share block and leasehold as forms of ownership available

Property Practitioners Bill – 22 of 2019 – October 2019

The Property Practitioners Act of 2019 signed into law by President Cyril Ramaphosa. The Act, signed on Wednesday, October 4, repeals the 43-year-old Estate Agency Affairs Act of 19, and is aimed at improving the functioning of the property market, which includes regulating the buying, selling and renting of land and buildings.

Property Rates Bill

Author : Dykes, van Heerden – ATTORNEYS & CONVEYANCERS PROPERTY RATES BILL: The Local Government Municipal Property Rates Bill came into effect on the 1st of July 2004 and has caused much debate in South Africa. In this article is an overview of important sections which will ultimately affect the rates and taxes that will be paid by each property owner in South Africa.

PROPERTY RATES INCREASE: YOU CAN OBJECT – 12 August 2020

The City of Cape Town updates the general valuation roll every three years to assess and adjust as necessary the current worth of immovable property within its jurisdiction. If the value of an immovable property is adjusted upwards, it may result in an increased rates liability for the property owner…

Proposed Amendments

Author : Lea Jacobs Property Professional March/April 2011 It’s time to brush up on those human resources skills The proposed amendments to the labour laws will directly affect the property industry, writes Lea Jacobs Principals who bury their heads in the sand,...

Pros and cons of a fixed rate

Author : Adrian Goslett, CEO of Re/Max of Southern Africa Pros and cons of a fixed rate: 04 November 2013 With the prime interest rate at a low that was last seen in the market more than 30 years before, many homeowners contemplated fixing the rate on their bond

Protection of Personal Information Act, 2013 [POPI]

In simple terms, the purpose of the PoPI Act is to ensure that all South African institutions conduct themselves in a responsible manner when collecting, processing, storing and sharing another entity’s personal information by holding them accountable should they abuse or compromise your personal information in any way.

Protections Disclosure Act 2000

PROTECTIONS DISCLOSURE ACT 2000 Act No 26, 2000 Protected Disclosure Act ACT To make provision for procedures in terms of which employees in both the private and the public sector may disclose information regarding unlawful or irregular conduct by their employers or...

PURCHASER’S REMEDY WHERE PARKING BAY NOT CEDED ON TRANSFER OF UNIT – 25 June 2020

It happens from time to time that, due to oversight, a formal cession of an exclusive use area does not accompany the registration of transfer of ownership of the unit to the new purchaser. The Sectional Titles Act states that in such an instance the exclusive use area “vests” in the body corporate. Is the purchaser who paid the purchase price and transfer duty on the acquisition of both without a simple remedy?
LE ROUX V DUNROBIN BODY CORPORATE AND OTHERS (10268/2019)[2020] ZAWCHC 53 (9 JUNE 2020)…

Purchasers Cooling Off Right

Estate Agency Affairs Board [EAAB] PURCHASERS COOLING OFF RIGHT:[Under the Consumer Protection Act [CPA] relating to Properties with a Purchase Price up to and including R 250 000.00 …

Real estate agents can work again! – 28 May 2020

The Covid-19 crisis united South Africa’s real estate sector as never before in our history and the hard work has paid off – on Monday 1 June all property professionals may once again go outside to sell properties on condition of adhering to strict safety protocols to keep them and the buyers and sellers safe from infection with the novel coronavirus…

Real Estate Compliance Flow Chart

Author : Meryl Muller FLOW CHART FOR QUALIFYING AS AN ESTATE AGENT: FOR MORE INFORMATION ON THE ATTACHED: CONTACT: Western Cape Meryl Muller [Facilitator] IEASA – WC Tel:  084 557 4640 email:  eata@webafrica.org.za View Flow Chart...

Real Estate Qualifications for Agents & Principals

Author : Meryl Muller Estate Agents Training Academy [EATA] SAQA Qualification ID 59097 – FET Certificate Real Estate: NQF level 4 [This Qualification is for: * Intern and Non-Principal Agents] SAQA Qualification ID 20188 – National Certificate Real Estate...

Real estate under the spotlight: Is sustainability becoming mainstream? – 3 March 2021

Parliament’s portfolio committee on Agriculture, Land Reform and Rural Development has called for written comment on the Sectional Titles Amendment Bill.
The bill introduces a number of additional regulations which largely relate to the management and development of schemes including extensions and common property – with tenants and trustees less likely to be impacted…

Record Sale Promises – 6 September 2016

In new developments it often happens that, at the time of sale, building works in the development are still under way. Such agreements include undertakings regarding the nature and style of building works still to be finalised…

Registering an online profile for a new intern agent

Principals: please note that when registering/opening an online profile for a new intern agent, the EAAB requires the following template to be completed and uploaded. If you do not use this format they will not issue the FFC

Renovate or Relocate

Author : Homeloans SA You family has outgrown your home – Renovate or Relocate Life is a Circle – at some stage in your life your home becomes too small when the children arrive and all require their own space. At a later stage in life they start leaving the family home and all of a sudden the house is too big!

RENOVATING YOUR HOME? A CERTIFICATE OF OCCUPANCY IS CRUCIAL – 16 February 2021

Once your local municipality has approved the building plans and you have completed the renovation, alteration, addition or extension to your home in accordance with such building plans in the required timeframe, it is imperative that you, or your project manager, make contact in writing with the municipality, to request the issue of a Certificate of Occupancy…

RENOVATIONS AND ALTERNATIONS TO YOUR HOME – 16 February 2021

What is required after your building plans were approved?
Once your local municipality has approved the building plans and you have completed the renovation, alteration, addition or extension to your home in accordance with such plans in the required timeframe…

Renting Out Your Property

Author : Homeloans SA Renting out your Property – The Do’s and Don’ts Are you a short-term or long-term landlord with one or more properties to rent out? Renting out property either way could be a profitable business…

Residential estate living vs sectional title living – 10 February 2020

Buying property in a community scheme remains a popular choice for many buyers whether they are first-time buyers or established buyers. Community schemes come in various shapes and sizes, and includes security estates, sectional title complexes, retirement developments and housing estates…

RESIDENTIAL RENTAL MARKET STILL PRESSURED BY WEAK ECONOMY, LOW INTEREST RATES – 29 October 2020

With the home buyers’ market buoyant and still being driven by sharply lower interest rates, the September Consumer Price Index (CPI) inflation numbers continue to point to a battling residential rental market which is being hampered by tenants who are financially pressured by a deep recession and ‘outcompeted’ by the home owner market due to the dramatic reduction in interest rates earlier this year…

RESISTING EVICTION: ALTERNATIVE ACCOMMODATION SCARCE – 28 JUNE 2016

A court will evict someone from a property if it has been shown that the person is there illegally (such as where a tenant refuses to leave after the landlord cancelled the lease). The PIE Act however obliges a court to consider various additional factors, including availability of alternative accommodation, before such an order is made…

Restrictive Property Conditions – 19 June 2018

Whether as the buyer or seller of a property, one is seldom aware of all the conditions contained in that property’s registered Title Deed. This is usually because, where a property is bonded, prospective purchasers never see the Title Deed, as the original is retained by the mortgage bank…

RETIREMENT FUND CONTRIBUTIONS AND THE COVID-19 VIRUS – 30 March 2020

Section 13A of the Pension Funds Act compels employers to pay the retirement fund contributions deducted from an employee’s salary as well as the employer’s contribution to the retirement fund in question within seven (7) days of the end of the month for which such contributions are being deducted…

RETIREMENT VILLAGE LIVING ON YOUR OWN TERMS – 7 April 2021

For more than a decade, financial services provider Citadel has been paying close attention to the trends impacting the development of retirement villages around South Africa.
Since the height of the 2008 property boom, the demand for lifestyle villages has been strong and continues to accelerate with supply keeping up pace with the demand…

Rise of the hybrid office – 2 November 2020

For companies around the world, Covid-19 lockdown has forced rapid change. Where there was reluctance to adopt remote working and hybrid workspaces pre-pandemic, lockdown made this a non-negotiable..

Sale of property from a deceased person’s estate – 13 January 2020

It is not uncommon for an estate agent to be involved in the marketing of a property which is an asset in a deceased person’s estate. But buying from a deceased estate can, at times, discourage an eager property buyer or investor due to the fact that such transfers are likely to take longer to finalise than ‘normal’ sales.

SALE SUBJECT TO “SUCCESSFUL SALE” OF PURCHASER’S HOME: WHAT DOES THIS MEAN AND MORE – 29 August 2019

This is an interesting judgment that combines many grounds often raised by sellers as a way to escape the consequences of having accepted an offer to purchase: from the argument that it was not signed by both spouses in a marriage in community of property, to the argument that the suspensive condition relating to the ‘successful sale’ of the purchaser’s property actually required ‘registration of transfer’ of such property. The judgment provides a valuable reminder of the law’s application to different factual scenarios…

SAQA ID 20188 National Certificate

Author : South African Qualifications Authority [SAQA] South African Qualifications AuthorityREGISTERED QUALIFICATION: National Certificate: Real Estate NQF5 View the Qualification:.. Download...

SAQA ID 59097 FET Certificate

Author : South African Qualifications Authority [SAQA] South African Qualifications Authority REGISTERED QUALIFICATION: Further Education & Training Certificate Real Estate NQF level 4 Download...

SARS’ guide to donations tax – 2019-08-28

SARS defines donation as a “gratuitous disposal of property”. “A donation requires an element of sheer liberality on the part of the donor, thus highlighting the requirement that the transaction must be gratuitous in nature.”

Sectional title levies – What am I paying for? – 31 March 2021

The Sectional Titles Schemes Management Act requires a body corporate to collect contributions (levies) from all members of the body corporate (in other words, all owners of sections in the scheme), in order to cover the common expenses and operating costs that the scheme will encounter during a given financial year…

Seller advice: Keep calm and let your agent negotiate – February 2020

Contrary to popular belief, the bottom line in contract negotiations is not always the bottom line, especially in real estate. When selling a home, for example, the price to be paid is usually the major consideration, but it is worth noting that sale agreements can and regularly do fall apart when parties fail to agree on non-price terms of the contract…

Seller advice: Take every offer seriously – May 2020

With interest rates at their lowest levels in decades and a huge choice of inventory, many home-buyers and investors feel that this might be a good time to pick up a bargain property or two, and are “trying their luck” with really low offers to purchase…

Selling Mandate Clauses In Rental Agreements – 5 July 2016

Some estate and rental agencies include clauses in their standard lease agreements providing the agency with an exclusive sole mandate to find a buyer for the property should the landlord wish to sell the property during the existence of the tenancy…

SELLING THAT WHICH YOU DO NOT YET HAVE – 19 March 2021

Tomlinson and Another v Tomlinson N.O and Others (11764/2015) [2021] ZAKZDHC 8 (19 March 2021)
If A sells B’s property to C, the resultant legal position is that A is obliged to make B’s property available to C. He will therefore attempt to obtain it…

Should you Buy or Rent

Author : Homeloans SA Agents are often faced with this question and when attempting to guide a Prospective Purchaser or Lessee, this article will assist to: `state the facts` with `integrity`

Showhouse Boards – Western Cape

Author : City of Cape Town SHOWBOARDS MUNICIPAL RULES. Subject to approval in terms of this By-Law, the erection and/or display of estate agent signs is permitted in all areas except natural areas of maximum control.

Showhouse Boards FAQ – Western Cape

Author : City of Cape Town SHOWBOARDS FAQs – Western Cape WHO NEEDS TO REGISTER? Any property marketing agent that sells, markets, lets/leases or auctions properties and uses directional boards on City owned land needs to register. HOW DO I REGISTER?

SOMETIMES PRUDENT TO AWAKEN SLEEPING DOGS – 17 July 2020

SONTSELE V 140 MAIN STREET PROPERTIES CC AND ANOTHER (328/2019) [2020] ZASCA 85 (6 JULY 2020) A 10 year lease agreement included an option to renew, subject to agreement regarding adjusted rental. At the end of the initial lease period and after indicating that it wanted to exercise the option to renew the lease, the tenant stayed on in the premises for a further 12 months, increasing the rental payment by its own doing in accordance with what it estimated was a market-related adjustment…

South Africa’s new property laws you need to know about – 2 November 2019

The past few years have seen a number of important new laws and amendments introduced, which are having a drastic effect on selling and leasing of property, says Seeff Property Group. The new Property Practitioner’s Act – which was recently signed into law, replacing the 43-year old Estate Agency Affairs Act – brings important reform to the property industry as a whole and introduces a number of much-needed changes.

SPLUMA Certificate Confusion – 5 May 2020

Some confusion created by recently published press articles about the requirement to have a “SPLUMA certificate” … The articles suggest that all property transfers require a SPLUMA certificate … In reality, only some property transfers require a certificate issued in terms of section 53 of SPLUMA (“SPLUMA Certificate“) and similar certificate requirements already existed under older legislation even before the enactment of SPLUMA …

Stamp Duty Amendments Affecting Leases of Fixed Property

Author : SARS Stamp Duty Amendments Affecting Leases of Fixed Property The Stamp Duties Act, 1968 (Act No. 77 of 1968) was repealed with effect from 1 April 2009. It should be noted that all lease agreements executed on or after to this date are not liable to Stamp…

Superhomes in South Africa are selling again, but at a fat discount – 6 March 2021

Between 30% and 50% of the high net-worth individuals (HNWIs) globally are planning to buy at least one additional luxury property within the next 12 months, compared to just 20% a year ago, according to the latest research conducted by Luxury Portfolio International (LPI) and Leading Real Estate Companies of the World (LeadingRE)…

Suretyship and a Spouse’s Consent – 11 June 2019

Strydom executes an unlimited suretyship in favour of Engen for the debts incurred by Soutpansberg Petroleum, a company of which he was a director. He was married in community of property at the time, but his wife is not involved in the transaction as it relates to her husband’s ordinary work and business.

SUSPENSIVE CONDITION FULLFILLED? ESTATE AGENCY SUCCESSFULLY CLAIMS COMMISSION – 1 February 2019

This judgment dealt, amongst other things, with the question whether an estate agent exercised a discretion afforded to it to extend a bond due date. The seller argued the wording of the bond clause in the Offer to Purchase did not constitute an ‘automatic extension’, or failing that and furthermore, that the estate agency was not entitled to commission due to alleged non-compliance with the Estate Agency Affairs Act’s Fidelity Fund Certificate requirements…

Tax and Divorce – 11 April 2018

In my divorce settlement I received 50% of my ex-husband’s annuity gratification. It pays out in a week. Will I be taxed on it?…

TAX TIPS FOR LANDLORDS – 9 September 2020

Owning a rental property portfolio which provides income is like owning a business. There are tax implications and dues that need to be paid to the South African Revenue Service (SARS)…

The ‘reprieve’ that is no reprieve – 20 August 2020

The Estate Agency Affairs Board (EAAB) announced on the 14th of February that 87 agents benefited from a special re-admittance practice note published in June last year. This is to accommodate agents who have not applied for renewal of their Fidelity Fund Certificates (FFC) for three years or more and allows them to pay the “debt” over 6, 12 or 16 months…

The 10 most popular estates in South Africa to retire to – 20 September 2020

New data from analytics group Lightstone shows which estates in South Africa are drawing the most retirees.
According to Lightstone, which has been tracking the retirement property industry for the last 20 years, the sector has evolved from limited options to now include an array of lifestyle estate options, sectional title or lock-up-and-go as well as the upmarket coastal home…

The Burning Rent Question – April 2020

Landlords are confronted with the question of whether to excuse their tenants’ performance, the possibility of renegotiating payment terms and making amendments to the rental lease, and whether or not to pursue immediate defaults and take necessary legal action. Tenants, on the other hand, are frantically looking towards landlords for financial assistance while some are even preparing legal defences against non-payment, including the claim that the lockdown constitutes a force majeure or vis major event…

THE INS AND OUTS OF DISTRESSED PROPERTY SALES – 11 November 2020

The increase in the number of distressed property sales owing to the lockdown and a rising unemployment rate is an unfortunate reality. Some of these property sales require a bit of work but they do provide cash-strapped buyers with the opportunity to enter the property market while rescuing the sellers from their debt.

THE LATERAL SUPPORT REQUIREMENT: A RECENT WIN – 2 June 2020

Your neighbour’s building activities, conducted in terms of approved plans, causes subsidence on your property and damage to your home. Is there a legal duty on landowners to provide lateral support in built-up urban areas? Must negligence be proved? In the matter: Petropulos & Another v Dias (Case no 1055/2018) [2020] ZASCA 53 (21 May 2020)…

The most expensive streets and suburbs in South Africa – 27 April 2020

Research group New World Wealth has published its South African wealth report for 2020, highlighting where some of the country’s richest people choose to live. As part of the group’s research, it looks at the price of property per square metre in prime property areas across the country…

THE PITFALLS OF NON-REGISTERED AGENTS – 21 OCTOBER 2020

With the summer holiday season approaching, areas along the coastal region will experience an influx of non-registered agents offering deals that are too good to be true on managing clients’ holiday rental properties. The trouble with this is that these clients will have little to no legal recourse against these agents if they turn out to be con artists…

The pitfalls of selling property privately – 2 November 2020

At first glance, selling a property privately rather than using an estate agent can seem like a good strategy. It seems to cut out the middle man, remove the need to pay estate agent’s commission and put you in control of the process. On the other hand, putting your home on the market yourself means that you have to market the property effectively and value it correctly…

The question of the asking price – 28 October 2020

If you were to put an asking price on a home that you have lived in and loved based on sentimental value, it would invariably be priceless. However, a strong sense of objectivity, as well as pertinent facts, must form the basis of the asking price for which you put your property on the market…

THE RADISSON HOTEL GROUP LAUNCHES TWELFTH HOTEL IN SOUTH AFRICA – 3 November 2020

The Radisson Hotel Group has debuted its fourth brand in South Africa, the Radisson Hotel & Convention Centre, Johannesburg, O.R. Tambo. The new edition further strengthens the group’s presence in one of its key African markets, bringing the company’s South African portfolio to sixteen hotels in operation and under development…

The real estate industry asks government to reconsider level 4 restrictions – 4 May 2020

After hearing confirmation that the real estate industry will not be reclassified to operate under level 4 of lock down restrictions, the real estate industry has joined forces to implore government to reconsider, explaining that this decision affects not only the thousands that are employed within this sector, but also has a far reaching impact on the economy as a whole…

THE RISKS AND REWARDS OF BUYING-OFF-PLAN – 13 July 2020

Buying-off-plan has made owning a brand-new home more affordable and accessible.
The repo rate is sitting at an unprecedented low and buyers and investors are caught between buying-off-plan versus buying an existing property…

THE SIX FACTORS HANGING IN THE BALANCE FOR PROPERTY IN 2021 – 25 January 2021

Few would have predicted that 2020 would turn into a successful year for property considering the technical recession and Covid-19. Thanks to an unexpected wave of buyers, triggered by low interest rates, motivated lenders and excellent value on the market, South African property has emerged in 2021 with its head held high…

The Tenant’s Deposit – 4 June 2019

In lease agreements relating to residential property, the landlord is obliged by the Rental Housing Act to place the amount received as a lease deposit in an interest-bearing account held with a financial institution…

THE TRUSTEES ARE NOT DOING THEIR JOB – 6 February 2021

Haitas v Froneman and Others (1158/2019) [2021] ZASCA 1 (6 February 2021)
Our courts are often called upon to adjudicate in matters relating to a trust’s management. The present judgment is another, dealing with a request by the sole beneficiary for removal of trustees because they are not ’doing their job’…

There is a change in the way people are buying property in South Africa – amid a massive spike in home loan applications – 17 July 2020

The property sector saw a big jump in home loan applications in June, data from bond originator, Ooba shows. The second quarter of 2020 (Q2 20) commenced with two months of lockdown for the real estate industry. Estate agents were only allowed to resume work on 1 June under Alert Level 3, with home buying accelerating in June due to pent up demand created by the lockdown as well as historically low interest rates…

This is the permit you need to travel under South Africa’s new curfew – 12 July 2020

Government has reintroduced an evening curfew in South Africa as part of a number of new restrictions aimed at curbing the surge of coronavirus cases in the country. In a national address on Sunday evening (12 July), President Cyril Ramaphosa said that the curfew will be implemented between 21h00 and 04h00 daily. The curfew comes into effect from 21h00 on Monday evening (13 July) and does not have a set end date…

THREE SHADES OF SPOLIATION – 11 February 2021

Wilrus Trading CC and Another v Dey Street Properties (Pty) Ltd and Others (1750/2021) [2021] ZAGPPHC 42 (9 February 2021)

Spoliation is sometimes perceived as an odd remedy: how can the fact of possession of, for example, premises or access to electricity, be ‘protected’ by the law despite the fact that the person in possession is ‘in the wrong’?…

Top tips for showing off a small home – July 2020

With more people working from home at least part of the time now, the demand for properties with a study or home-office space has increased – but if your property does not have this extra space you should not be too hasty to plan an addition or renovation before trying to sell…

TOUGH TIMES AND HANGING IN THERE – 15 APRIL 2016

This judgment offers a valuable lesson to debtors who fall behind with bond repayments in difficult times. What is notable is that the court assisted the debtor, at least temporarily, where she could show that, during the hard times, she regularly maintained instalments on the loan account, although in a lesser amount;…

TRADING IN PROPERTY? THE SALE MUST BE ADVERTISED – 7 August 2020

Our law requires that when a trader sells any part of his business other than in the normal course, such trader must publish a notice of his intention to do so in order to protect creditors of the business.
HYDE CONSTRUCTION CC V K2013046547 (SOUTH AFRICA) (PTY) LTD AND OTHERS (9179/2019) [2020] ZAWCHC 31 (29 APRIL 2020)…

Transactions Involving Farm Land – 2 August 2016

There are volumes of case law dealing with disputes arising from the sale of agricultural land, many judgments dealing with issues arising from non-compliance with the Subdivision of Agricultural Land Act…

TRANSFER DUTY AND DIVORCE – 23 April 2019

Where a divorce settlement agreement provides that a spouse will acquire sole ownership in the whole or a portion of property registered in the name of his or her divorced spouse, the transaction is exempt from transfer duty..

TRANSFER DUTY CALCULATION: ARRANGEMENT TO SEPARATE BARE DOMINIMUM AND HABITATIO MAY REMAIN A SINGLE TRANSACTION ATTRACTING HIGHER TRANSFER DUTY – 7 FEBRUARY 2018

Structuring a property purchase so that you buy the property (the bare dominium) and your partner a right of habitatio, could be an effective way of protecting the former against business risks of the latter. But remember that in determining the amount of transfer duty, calculated on a sliding scale, it is not so simple to argue that such an arrangement is two separate agreements and hence justifying a lower rate of transfer duty (calculated in respect of the separate transactions). ..

Transfer Duty Rates …

When a Buyer purchases a Property in South Africa, the Purchase Price is ‘subject’ to Transfer Duty – unless: the Owner/Seller is a VAT vendor – then the Owner/Seller has to pay SARS the VAT [15%] on the purchase/sale Price of the Property AND the Buyer then doesn’t pay Transfer Duty…

TRANSFER DUTY Rates from: 1 March 2020

Wednesday, 26 February 2020: Minister of Finance, Mr Tito Mboweni, delivered the National Treasury’s budget for 2020/2021 this afternoon… Transfer Duty Rates: No Transfer Duty payable on Property purchased, up to and including: R 1 000 000

Transfer of immovable property following divorce – 26 February 2021

In respect of immovable property, it is important to note that the divorce order merely records that the party/parties are entitled to a full or half share in the immovable property. Thereafter, transfer of the applicable share in terms of the divorce order, must be registered by a conveyancer in the office of the Registrar of Deeds…

Unemployed, Can’t Pay Bond and Credit Instalments? “Credit Life Insurance” May Save You – June 2020

If you are one of the many employees retrenched or put on short pay or unpaid leave as a result of the COVID-19 crisis and lockdown, you will be wondering how to cover the monthly instalments on your mortgage bond and other credit agreements. You have no doubt heard of the “payment holidays” banks are offering, but remember that although these are a lot better than losing your house, car etc, they are no free lunch. Interest and fees will still be building up…

Unpleasant CCMA Surprises for Employers

Author : Labour Law Management Consulting 21 August 2012 This article was first published on the SA Labour Guide website A while ago, I received a panic phone call from an employer who had received an unfavourable arbitration award in respect of a CCMA case they never...

UPDATE ON CONVEYANCING ISSUES – 20 April 2020

The Cape Town Attorneys Association, referring to a note from the Chief Registrar of Deeds, confirmed that various communications have been addressed to the office of the Minister of Justice, motivating the re-opening of the Deeds Office as an essential service. We are currently awaiting the outcome of these submissions and our advices will follow as soon as positive details are known…

Upgrading of Land Tenure Rights Act 112 of 1991

To provide for the upgrading and conversion into ownership of certain rights granted in respect of land; for the transfer of tribal land in full ownership to tribes; and for matters connected therewith…

VALID CANCELLATION REQUIRES MORE THAN STATING THAT ANOTHER IS IN BREACH – 11 AUGUST 2017

Procedural ‘formalities’ often crystallize from lessons learnt in everyday transacting. For the cancellation of agreements, unless stipulated otherwise, formalities dictate that the defaulting party must be given clear details of the alleged breach, be afforded a timeframe in which to rectify it, and must be advised of the other party’s right to elect, on a failure to rectify the breach, whether to keep the defaulting party to the agreement or to cancel it (and claim damages)

Validity of the VOETSTOOTS clause – March 2013

Knowledge by the sellers of a house that its roof was latently defective and that repairs to it had not properly rectified the latent defect, which they fraudulently concealed, vitiated the effect of a voetstoots clause. Banda v Van der Spuy (781/2011) [2013] ZASCA 23 (22 March 2013)…

VALUE FOR MONEY IS KEY WHEN LEASING NEW BUSINESS PREMISES – 28 September 2020

Now more than ever, leasing office space for your business is daunting as the country transitions out of the national lockdown. With remote working part and parcel of our daily experience, both small and large businesses are scrutinizing lease agreements and asking the important question: Are we getting value for money?…

VAT or Transfer Duty

Very often the question arises as to whether the purchaser must pay transfer duty on a particular transaction or whether there is no transfer duty payable as the transaction is in fact a VAT transaction.

Voluntary liquidation of a company – April 2020

The lockdown regulations in essence affected all business owners who do not provide essential services. Not being able to trade for more than a month might prove to be the final nail in the coffin for businesses, already under financial strain prior to the pandemic…

WARNING BELLS FOR HOME BUILDERS AND THEIR CLIENTS – 12 November 2020

Rabe Bouers CC v Chaya (2328/2015) [2020] ZALMPPHC 83 (30 October 2020)
The Housing Consumers Protection Measures Act has a double-edged sword. If the home builder is not registered with the NHBRC, has not paid the fees and enrolled the homes that he’s building for a housing consumer(his client), then the builder may not demand payment from him…

Water for Cape Town – 4 September 2018

Towards the end of June 2018, the City of Cape Town promulgated amendments to its Water By-law. These do not replace the current Level 6 water restrictions, but are in addition to present water usage rules…

WE WERE IN A PARTNERSHIP, DID YOU NOT KNOW THIS? – 25 February 2020

This judgment deals with a dispute between two persons regarding their shares in wealth generated whilst they cohabited over a period of 22 years. It highlights the very difficult position for such partners to have to search back in their personal and joint histories to be able to convince a court, so many years later, that they created a partnership and agreed on a shareholding, not in words but in deeds done (tacitly)…

Weighing up buying versus renting property – 28 September 2020

Author: STONEWOOD Property Management 29 September 2020 WATER DAMAGE LIABILITY IN SECTIONAL TITLE SCHEMES:  WHAT YOU NEED TO KNOW A body corporate is responsible for the maintenance of the common property of the scheme which includes planned and unforeseen...

WHAT ARE THE ROLES AND RESPONSIBILITIES OF TRUSTEES? – 17 November 2020

Appointing body corporate trustees is one of the most important decisions that the members of the scheme must make every year. Trustees should have the relevant knowledge and management skills, and they should also be able to carry out their responsibilities in a way that benefits the scheme…

WHAT IS A SHARE BLOCK SCHEME? – 21 July 2020

Property developers and owners often seek advice on the best property time-sharing scheme to use in respect of a development. The choice of scheme is dependent on the requirements of the owner or property developer. One option is a share block scheme…

What Is Home Loan Insurance? – 19 July 2016

Banks require home loan applicants to take out a homeowner’s insurance policy to cover the risk of damage to the property that may result from natural disasters such as fires, storms etc. The value of the cover is determined by the value of the property…

What R1.5m and under buys you in KZN – 1 April 2021

Ballito, North Coast and Queensburgh in KwaZulu-Natal offer buyers spacious homes, a more balanced and relaxed lifestyle, with new apartments selling from R550k and homes from R850k. Experts offer advice on what you can expect to buy within the R1.5m price band in this province…

What R1.5m buys you in Gauteng – 31 March 2021

In 2020, more than 95 800 properties were sold in Gauteng according to Property24 Trends Data, with the average sale price for the province being R910 000. The average sold price for an erf in 2020 was R1 million, while a sectional title unit average sold price was R8250 000 for the same period…

What R1.5m buys you in the Western Cape – 29 March 2021

In 2020, more than 53 000 properties were sold in the Western Cape according to Property24 Trends Data, with the average sale price for the area being R1.25 million. The average sale price per erf for 2020 in the Western Cape is R1.32 million, while Section Scheme Units average sale price for the same period is R1.1 million…

WHAT’S IN A NAME AND IMPOSSIBILITY OF PERFORMANCE – 30 April 2020

Wilma Petru Kooij v Middleground Trading 251 CC and Another (1249 /18) [2020] ZASCA 45 (23 April 2020)…
Our law has always held that the title to an agreement cannot mask its real nature. This determination is a turning point, as this case illustrates: were parties to enter into a lease of part of a farm where peat can be harvested, the subsequent event that made continued harvesting impossible would not affect the continuance of the lease…

What’s in a name? – 29 May 2018

In terms of the Births and Deaths Registrations Act, no person may assume or describe themselves under any surname other than that recorded in the population register or under which such person obtained permanent residence in South Africa…

When does the Consumer Protection Act apply to property sales?

The wave of publicity that accompanied South Africa’s widely-praised Consumer Protection Act has in some cases led buyers (consumers) to believe that they are afforded a blanket protection covering every commercial transaction in which they are involved…

When is a Sale of Businesses Voidable?

Author : Mark Fiandeiro – BOUWER KOBELI MORABE 14 August 2012: In terms of section 34 of the Insolvency Act, if anyone transfers any business that belongs to them in terms of an agreement, or even the goodwill of such business, or any of the business’ goods or...

WHICH DECISIONS ARE TRUSTEES ALLOWED TO MAKE WITHOUT CONSULTATION? – 14 January 2021

Trustees are appointed by the members of a scheme to manage the body corporate’s affairs. Trusteeship involves spending private time on dealing with issues and taking decisions that determines the wellbeing of the scheme. Sometimes trustees lose sight of their responsibilities and take decisions that are biased or not in line with sectional title legislation…

Whistle Blowing

Author: Designed and produced by Creative Solutions at Deloitte. The evolution of whistleblowing hotlines. Has your disclosure facility remained legally compliant?

Who Gets the House on Divorce? – April 2021

For those unfortunate couples whose marriages do eventually fall apart, often the most important asset in play from both a financial and an emotional perspective is the family home…

WHY A ’72 HOUR’ CLAUSE? – 7 July 2020

The ’72 hour clause’ (or ‘continued marketing clause’) is somewhat of an enigma for a first time buyer or seller and we therefore explain here how it works. It is important to consider the exact wording of the ’72 hour clause in each and every sale agreement…

Why a body corporate should not neglect fidelity insurance – 30 January 2020

Changes to the Sectional Titles Schemes Management Act 8 of 2011 (STSMA) on 7 October 2016 made fidelity insurance compulsory for bodies corporate. This means that the body corporate must insure itself against the potential loss of its funds by way of fraudulent or dishonest conduct by the trustees, managing agent or anybody who has access to these funds…

Why a recession is actually a good time to buy property – 29 October 2020

Now on Level 1 lockdown, it is hopeful that South Africa is on the path to economic recovery, however, there is still some way to go, with the economy anticipated to shrink by 7.8% this year. In terms of the property sector, the knock-on impact is that buyer confidence is low – something that cannot be attributed solely to the pandemic…

Why interest rates are not likely to go up in South Africa any time soon – 13 September 2020

Anyone keeping an eye on South Africa’s financial situation will be well aware of the recent spate of interest rate cuts implemented by the South African Reserve Bank (SARB).
These have taken the prime lending rate from 9.75% in January to an eyebrow-raising low of 7% as of late July. Substantial drops like these are so rare as to be nearly unprecedented in our country and offer extraordinary opportunities for investors, particularly in sectors like property…

WHY IS IT IMPORTANT TO HAVE A WILL? – 25 August 2020

Events which shape one’s life, such as marriage, the purchase of a property, the birth of a child, the death of a loved one, a divorce or emigration, all lead to a change in personal circumstances which may require the updating of your will…

Why Running a Rental Business without Written Procedures is like Driving a Car Blindfolded – by Shaun Luyt

You’re the Rental Manager and you get a call from a client with a complaint. You listen to what the client has to say and you then have a meeting with your team to get their side of the story. It turns out that they ‘totally forgot’ a crucial step in a ‘standard’ process – something that they do regularly – and all of a sudden you have a problem because a ‘crucial’ action was omitted…

Why your body corporate needs a 10-year maintenance plan – 7 May 2020

In the past, many community schemes have found themselves in financial distress due to poor planning by trustees, or due to push back from owners not wanting to increase levies. The lack of efficient planning had the result of placing undue financial stress on individual owners as well as the body corporate when major maintenance repairs became necessary…

WITHDRAWING AN IRREVOCABLE OFFER BEFORE ACCEPTANCE – AUCTION WOES – 24 January 2020

In a judgment that creates some precedent for auction sales, the Court dealt with the following questions: (i) Can an auctioneer, as agent of the seller, be held personally liable for obligations of his principal?; (ii) can the purchaser who makes an irrevocable offer withdraw this whilst it is still open for acceptance; and (iii) can an option agreement can be repudiated before it comes into existence? …

YOUR AGREEMENT v YOUR INTENTIONS AT THE TIME – 25 March 2020

It happens so often that parties conclude a written agreement, stating that the content thereof embodies the full extent of their obligations, and then afterwards, when problems arise, they seek to introduce details that they thought were common cause…

Your Pet Sitter

Need to be away from Your Home? Contact Your Pet Sitter.
Other Services available -Home Checks – elderly Companion Care…

Your Real Estate Forecast for 2020 – 12 December 2019

When it comes to heading out into the property market in 2020, the predictions may prove to be as trustworthy as the weather forecast, but while there are indeed rays of sunshine falling on certain areas, the storm clouds gathered on the horizon cannot be avoided.