The rei vindicatio and the actio ad exhibendum
This article will briefly look at two actions that can be instituted simultaneously, and an alternative to each other, when you have been wrongfully deprived of possession of your property. The first action is the rei vindicatio. This action is instituted in order to claim the physical return of one’s property. The second action, which will […]
Make sure your property flip does not flop
During Season 4 of Modern Family, viewers sat in stitches watching as Cam and Claire tried their luck in house flipping, where a property is bought with the sole purpose of improving it and reselling it at a profit. Needless to say, things went wrong. What else would you expect from a sitcom? And what else would you expect from an episode titled “Flip Flop”? But maybe we can help […]
Having ‘skin’ in the property game
Bigger deposits mean a smaller loan and a better interest rate Rising inflation and several interest rate hikes have many South Africans trying their best to keep their costs down where possible, and this has also translated into their homebuying behaviour. The Q2 ’22 oobarometer statistics, released by ooba, reveal lower-than-expected home price inflation from […]
What you should know about the new Property Practitioners Act
The long-awaited Property Practitioners Act finally came into effect this year and brings with it significant changes to the real estate industry. The Act takes a more consumer-focused approach and is premised on the need for transformation in the property sector. Property practitioners The Act has widened its scope of application by consolidating all role […]
Dream holiday or nightmare! An overview of the Property Time-sharing Control Act and the Vacational Ownership / time-share industry.
This article broadly looks at property time-share and the legislation regulating it. The problems and complaints by consumers trapped in the empty and misleading promises advertised to them by the time-share industry are also addressed. The article gives a broad outline of what the Property Time-Sharing Control Act entails and specific definitions that describe the […]
Transfer duty – no surprises – Part 2
The Transfer Duty Act 40/1949 (“the Act”) states that transfer duty (duty) is to be levied on any property acquired by any person by way of a transaction. The Act is clear as to whom and by when the duty is to be paid. It states that the duty shall be payable by the person […]
How many animals are allowed on my property?
During the lockdown, many people were fortunate enough to be quarantined with their families and friends, while others got the short end of the stick and had to go full Tom Hanks and create a Wilson of their own to get some company. But somewhere in the middle there were those who had their cuddly counterparts to keep the […]
What is a Title Deed?
If you are planning to buy a new property, you will need to get the title deed transferred into your name to prove that you are the owner of the property. You will need the assistance of a lawyer specialising in property transfers (also known as a conveyancer) to help you transfer the title deed […]
Transfer Duty
Transfer duty is a tax levied upon the purchaser of immovable property situated in South Africa. The duty is levied in accordance with the following sliding scale and is based on the value of the property which is the subject of the transfer: Value of the property (R) Rate 0 – 900 000 0% 900 […]
Transfer duty. No surprises. Part I
Transfer duty is a duty levied for the benefit of the National Revenue Fund on the value of any property acquired by any person by way of a transaction or in any other way, or on the amount by which the value of any property is enhanced by the renunciation of an interest or restriction […]