Options to renew leases – Risks for landlords and tenants
Leases often give tenants an option to extend or renew at the end of the current term, and tenants who lose sight of the value and importance of such an option are flirting with disaster. Tenants In a nutshell, when the time comes to exercise your option do comply fully with the clause’s requirements. Make […]
Buying a business? Make sure the seller publishes notice of the sale
With our economy in trouble and the ongoing pandemic and lockdown damaging more and more businesses by the day, sales by distressed companies and traders are likely to rocket. If you are a prospective buyer here, be aware of one particular danger lurking in the wings for you. Follow this rule to protect yourself – […]
Property: Don’t pay double commission!
With many property sellers allowing multiple estate agencies to market their properties in their attempts to sell during what is still (for the moment at least) a buyer’s market, now is perhaps a good time to remind both sellers and buyers of the double commission danger. Consider this scenario – you mandate an agent who […]
Electronic signatures in property and other transactions
We all know that verbal agreements, although fully binding for most types of transaction, are a recipe for uncertainty and dispute. It’s not just a question of trust – even if no one is deliberately dishonest about what was agreed, innocent misunderstandings are common. We have a natural tendency to hear what we want to […]
Conveyancing firms work together
WE ARE PART OF A GROUP OF CONVEYANCING FIRMS PROVIDING INFORMATION, EDUCATION AND SUPPORT TO PROPERTY OWNERS, BUYERS & SELLERS. THIS INITIATIVE BEGAN DURING THE LOCKDOWN AND WILL BE EXPANDED AS THE RESTRICTIONS ARE LIFTED AND THE SA ECONOMY RECOVERS. READ MORE HERE Property Buyers and Sellers are facing uncertain times going from level 5 […]
Does an expired lease automatically continue month-to-month? At what rental?
Your residential fixed-term lease expires but for whatever reason you don’t sign a new one. Nor does the lease say anything about what will happen on expiry. Is there still any form of valid lease in place and if so what terms and conditions apply? What rent is payable? To avoid confusion over the answers […]
Rights and responsibilities of usufructuaries
In a recent inquiry a client wanted to know what the responsibilities of his parents are as usufructuaries of the property he bought from them. The parents as usufructuaries have the right to occupy and use the property until their respective deaths. On the death of the last-dying the usufruct would lapse and the full […]
Property owners, buyers and agents: Lost title deeds and bonds – Don’t delay!
“He who hesitates is lost” (Wise old proverb) In January 2019 new amendments to Regulations for the replacement of lost title deeds (and similar documents like mortgage bonds and notarial bonds – see below) were published. They were very onerous and slated to come into effect at short notice, but after criticism they were suspended […]
Property sales and trusts: Demand proof of trustee authority
“If you want to make your house easy to sell, make it easy to buy” (Anon) You are overjoyed at receiving a good offer for your property – not easily achieved in these hard times and of course you certainly don’t want to do anything to jeopardise the sale. But perhaps do that little bit […]
“Seller’s remorse” and “subject to sale of the buyer’s property” – Can they sink the sale?
“If you don’t like where you are, move. You are not a tree” (Jim Rohn) The upcoming festive season, with its mass migrations of happy holiday-makers to their dream destinations, has always been a busy time for both sellers and buyers. In these hard times however, an increasing number of sellers are feeling pressured to […]