81. SECTIONAL TITLE AND LEVIES

The financial affairs of a sectional title scheme are managed by the trustees appointed by the body corporate. In some sectional title schemes the individual owners do not pay rates direct to the municipality for their individual units. The rates...

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82. Building Addition to Sectional Title Units

Subject to local authority town planning regulations, building restrictions and common law, owners of freehold title properties are free to manage their properties as they please. A sectional title owner however, is governed by a number of...

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83. What will my transfer and bond costs be?

Your estate agent and conveyancing attorney should be able to answer this question based on a schedule of bond and transfer costs. The transfer fees depend on the purchase price of the property. Bond costs are calculated on the total loan...

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84. Will someone contact me to let me know when the property is registered?

A representative from your conveyancer's firm should contact you as soon as the registration has gone through. You will also be given a final statement of the account. Your estate agent may also phone you to confirm registration. The bank will...

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85. Fractional Ownership

Fractional Ownership can be defined as the collective ownership of an asset, usually one with a high monetary value. Usage of the asset is shared amongst the owners by means of an ownership usage roster. The running costs are also shared...

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86. Choosing a Stand

Consider the following, when searching for the perfect stand on which to build your dream home:  Check the title deed to make sure that there is no building or zoning restrictions that would hamper your dreams, or servitudes that are...

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87. What is a Title Deed and why is it so important?

The owner of Immovable Property is the person in whose name the property is registered in terms of the Deeds Registries Act 47 of 1937. A Title Deed is the owner of immovable property's documentary proof of ownership. Each privately owned property...

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88. Latent and patent defects and the voetstoots clause

What is the effect of a voetstoots clause in a Sale Contract on the discovery of undisclosed defects by the buyer on taking occupation of a property? When you buy something, there is an implied warrantee that the thing sold is free from any...

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89. Apointment and Duties of Trustees

 Trustees are elected by the body corporate at its first meeting and at every subsequent AGM. The rules prescribe a minimum of two trustees, but do not prescribe a maximum number. Bodies corporate should avoid the temptation to appoint too...

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90. Notice of a Special General Meeting

With the exception of the first, inaugural meeting of the body corporate, general meetings require at least fourteen days notice of the meeting. Only with the agreement of all persons who are entitled to attend may a shorter notice period be...

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