PROPERTY SELLERS AND ALIEN INVADERS: YOUR NEW DUTY TO DISCLOSE
“Humankind has not woven the web of life. We are but one thread within it. Whatever we do to the web, we do to ourselves. All things are bound together. All things connect” (Chief Seathl) Property sellers: Your lives have just been made more difficult, albeit in the best of causes. NEMBA (The National Environmental […]
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 […]
PROPERTY FRAUD: BUYERS, BONDHOLDERS BEWARE
“Our system of deeds registration is negative: it does not guarantee the title that appears in the deeds register” (extract from first judgment below)Although in practice title deeds as registered in the Deeds Office are accepted as proof positive of property ownership, two important SCA (Supreme Court of Appeal) decisions illustrate a little-known but potentially […]
A GAME OF HOMES: SEA VIEW WARS
“A verbal contract isn’t worth the paper it’s written on” (Samuel Goldwyn) A recent Supreme Court of Appeal (SCA) judgment underlines once again the need to properly record any and all agreements relating to your property. Sea views and servitudes: Neighbours at war Cape Town (Bantry Bay) neighbours – let’s call them A and B […]
LANDLORDS: MANAGING YOUR TENANT’S LIQUIDATION
In these hard times, you may well be faced with a situation where your tenant is liquidated (“sequestrated” in the case of an individual or trust, “liquidated” or “wound up” in the case of a company). If that happens, what are your rights and how do you manage them? A recent Supreme Court of Appeal […]