SARS Compliance When Selling Property
It is important that the parties to a transfer of immovable property ensure (ahead of time) that their mandatory tax returns have been filed with SARS and that their information with SARS and submissions are up to date. In terms of Section 99 of the Income Tax Act, SARS may direct the conveyancing firm attending […]
Bequeathing Property in your Will
Where possible, avoid bequething property to more than 1 heir. Although you may have the best intentions at heart, joint ownership between parties who did not necessarily agree to same may lead to conflict and put undue financial strain on your loved ones. Where it is not possible to divide assets equally in the will, […]
#DidyouKnow
According to South African law, it is the residency of the husband that will determine which country’s laws govern a marriage. By way of example, a couple could be married in the UK, but because the husband was permanently residing in South Africa at the date of the wedding, the legislation governing South African marriages […]
Lease agreements on Agricultural Property
Did you know that if you register a lease agreement over a portion of agricultural property, the said lease may not exceed 10 years without obtaining ministerial consent from the Minister of Agriculture. For more information regarding leases, over agricultural property or otherwise, contact our office today on 035 792 2011.
Bond Cancellation at the Deeds Office
Sellers, did you know that once the mortgage bond registered over your property is settled (paid up) the bank does not automatically cancel the bond in the applicable Deeds Office register? Should you require the bond to be cancelled, in order to obtain your original title deed, you will need to inform the bank accordingly […]
Legal Tip of the week
Legal proceedings against a government department It frequently occurs that individuals or entities suffer damages as a result of the negligence of a state entity and/or its representatives. For example, when a local municipality fails to pay a person or entity for services provided then such a person or entity would be entitled to claim […]
Selling Commercial Properties
When selling commercial properties, registered in the name of a company or close corporation, some sellers opt to sell the shares in the company or the members’ interest as opposed to transferring title of the property itself. Doing so naturally has many financial benefits for the seller and can often speed up the process of […]
TRUST DEREGISTRATION
Article by Sulize Möller, Director THE use of a trust has long been favoured as an asset management vehicle due to the great variety it provides in its structuring and operation, the tax benefits it holds as well as a multitude of other benefits derived from the use thereof. Suppose, however, that the trust has […]
Cancelling your Bond
Sellers, did you know that once the mortgage bond registered over your property is settled (paid up) the bank does not automatically cancel the bond in the applicable Deeds Office register? Should you require the bond to be cancelled, in order to obtain your original title deed, you will need to inform the bank accordingly […]
Legal tip of the week, 13 February 2025
Adding an Acceleration Clause Sellers who wish to continue marketing their sought-after property, whilst they wait for fulfilment of suspensive conditions of an existing offer, should consider the insertion of an acceleration clause in the said offer. This clause comes into effect in the instance where a seller receives a further offer (for the same […]