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 […]
What a good conveyancing attorney does for you
Since property transfers are some of the highest-value transactions that you may make in your lifetime, it naturally follows that you need to ensure that you don’t let your money go to waste – especially when choosing someone to handle the process for you. Choosing the right conveyancing attorney can save you a lot of headaches down the […]
Immovable property ownership and spouses
When does a spouse who is entitled to receive a half share in immovable property become the owner of that half share? Does the real right in respect of half share in immovable property vest immediately upon granting of a divorce decree or does a spouse acquire personal right to claim formal transfer in the […]
The increasing importance of Fidelity Fund Certificates
Property Practitioners who now need to hold a Fidelity Fund Certificate, unless excluded, to practice in terms of the Property Practitioners Act, 22 of 2019, may have certain questions regarding the application process to obtain the Certificate, its issuing from the Authority and any disqualifications from issuing, its amendment, withdrawal, and lapse thereof. A Property […]
Space law or the lack thereof
On October 4th, 1957, the first satellite was successfully launched into space. Sputnik 1, launched by the former Soviet Union (now the Russian Federation), ran for 21 consecutive days until it ran out of battery.[1] The satellite burnt while re-entering Earth’s atmosphere.[2] There are currently a total of 7500 active satellites and more than 15000 pieces of […]