REJ - 2018

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?…

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). ..