My brother’s keeper: The unfortunate building contractor and the enriched owner
A building contractor entered a binding and legal, written building contract with a closed corporation to erect a residential house on land registered to the sole member of the corporation and a third party. Occupation was taken and the builder released the property (and thus his builder’s lien) to the owners of the land, in […]
Is my tenant responsible for the worn out carpet?
There are several damages a landlord can deduct from a tenant’s deposit. However, there are certain household items that will experience normal wear and tear over time. This is referred to as “fair wear and tear”. Fair wear and tear is seen as damage or loss to an item at the property which happens as […]
Implications of estate duty
Estate duty is charged on the dutiable value of the estate in terms of the Estate Duty Act. The general rule is that if the taxpayer is ordinarily resident in South Africa at the time of death, all of his/her assets (including deemed property), wherever they are situated, will be included in the gross value […]
Transfer of a property: Is VAT or transfer duty payable?
A purchaser is responsible for payment of transfer cost when acquiring an immovable property, but it should further be established if the transaction is subject to the payment of VAT or transfer duty to SARS. When an immovable property is transferred, either VAT or transfer duty is payable. To determine whether VAT or transfer duty […]
Usufruct, Usus and Habitatio: What is the difference?
Usufruct, usus and habitatio are personal servitudes. These servitudes are sometimes considered as an estate planning tool to reduce estate duty, but testators don’t always realise what this entails and the burden it could place on the heirs. What is a personal servitude? A personal servitude is always constituted in favour of a particular […]
Usufruct, Usus and Habitatio: What is the difference?
Usufruct, usus and habitatio are personal servitudes. These servitudes are sometimes considered as an estate planning tool to reduce estate duty, but testators don’t always realise what this entails and the burden it could place on the heirs. What is a personal servitude? A personal servitude is always constituted in favour of a particular individual […]
Sale of immovable property and the national credit act
It often happens during a sale of immovable property that the parties agree to a deferred payment of the purchase price. The purchaser will then pay the purchase price in installments and the seller will charge interest on the outstanding amount from time to time. Sometimes the parties even agree to the registration of a […]
Tenant and landlord – what are your rights and obligations?
Sandra would like to move into her own place but like many people she is unsure what a lease is and what responsibilities it will place on her. A lease agreement is defined as the agreement entered into between the tenant and the landlord for the leasing of a property. The lease agreement regulates the […]
Private defence of property
The common law provides that an owner may protect his property from harm or damage even though there might not be any physical risk of harm to the owner himself. A person may use force in order to protect property and his or her rights therein. Private defence of property can only be resorted to […]
Capital Gains Tax and the sale of a property
Capital Gains Tax was introduced on 1 October 2001. Capital Gains Tax is payable on the profit a seller makes when disposing of his property. What is meant by Capital Gain? A person’s capital gain on an asset disposed of is the amount by which the proceeds exceed the base cost of that asset. What […]