241. 2 Ownership and real rights in or over parts of buildings, and registration of title to ownership or other real rights in or over such parts

2 Ownership and real rights in or over parts of buildings, and registration of title to ownership or other real rights in or over such parts Notwithstanding anything to the contrary in any law or the common law contained- (a) a building or buildings...

Tuesday, 07 September 2010 | 219 hits | Print | PDF |  E-mail | Report | Read more

242. 1 Definitions

1 Definitions (1) In this Act and the rules, unless the context otherwise indicates- 'Administrator' ...... [Definition of 'Administrator' substituted by s. 1 (a) of Act 63 of 1991 and deleted by s. 1 (a) of Act 44 of 1997.] 'architect' means a...

Tuesday, 07 September 2010 | 240 hits | Print | PDF |  E-mail | Report | Read more

243. OPTIONS AND RIGHTS OF FIRST REFUSAL

  The terms "option" and "right of pre-emption" (more commonly known as a "right of first refusal"), are often confused by persons involved in property transactions. There is a significant difference between granting or receiving an option to...

Friday, 06 February 2009 | 2476 hits | Print | PDF |  E-mail | Report | Read more

244. VAT, TRANSFER DUTY AND STRUCTURING PROPERTY TRANSACTIONS

 The general rule is that when a seller is not a registered VAT vendor, transfer duty is payable on the purchase price by the Purchaser. However, when the seller is a VAT vendor, then VAT is payable on the purchase price by the Seller. As a...

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245. IMPROVEMENTS TO SECTIONAL TITLE SCHEMES

 A sectional title scheme is managed by the body corporate and all owners of units in the scheme are members of the body corporate. The body corporate elects trustees to attend to the day to day running and management of the scheme. ...

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246. Remedies in case of a breach of Contract

What remedies does a party to a deed of sale have if the other party fails to fulfil his or her contractual obligations?  The first step to be taken under such circumstances is to consider the wording of the clause in the deed of sale...

Friday, 06 February 2009 | 3863 hits | Print | PDF |  E-mail | Report | Read more

247. Different Legal Entities Property Can Be Registered In

Immovable property may be registered in the name of natural persons or in the name of a legal entity such as a trust, CC or company. Clients who intend purchasing a residential property which is to be their primary residence (permanent home)...

Friday, 06 February 2009 | 511 hits | Print | PDF |  E-mail | Report | Read more

248. CAPITAL GAINS TAX (CGT)

    A In the letter the reader enquired whether it was necessary for the "ordinary houseowner" to have his or her property valued for CAPITAL GAINS TAX purposes. This question pertains to a very important exemption which applies in...

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249. Taxes on the Transfer of Property

When residential land, or an interest therein is sold or transferred, either VAT or transfer duty is payable on the transaction. The issue of what "tax" is payable when a "property transaction" takes place, has become quite a complicated...

Friday, 06 February 2009 | 606 hits | Print | PDF |  E-mail | Report | Read more

250. DISPUTES ABOUT LEVIES

  A number of owners of sectional title units have asked me whether they are entitled to withhold the payment of levies if they are dissatisfied with the manner in which the trustees appointed by the body corporate are managing the scheme or...

Friday, 06 February 2009 | 599 hits | Print | PDF |  E-mail | Report | Read more