51. Does a minor selling or purchasing property have to be assisted by his guardian(s) when signing the Offer to Purchase?

Does a minor selling or purchasing property have to be assisted by his guardian(s) when signing the Offer to Purchase? Yes. Where a minor is selling property, the assistance of both guardians is required. This also applies where the minor is...

Friday, 06 February 2009 | 790 hits | Print | PDF |  E-mail | Report | Read more

52. Apointment of Managing agent

Most sectional owners believe that a managing agent's function is to send out statements and collect levies. Without doubt, this is a major and highly visible part of the agent's responsibilities, but a competent agent will do a lot more for the...

Wednesday, 18 March 2009 | 788 hits | Print | PDF |  E-mail | Report | Read more

53. MAINTENANCE OF SECTIONAL TITLE SCHEMES

  I have been asked quite a few questions recently relating to the responsibility of owners and the body corporate to maintain their sections and the common property respectively in sectional title schemes. To understand this issue, one first...

Friday, 06 February 2009 | 746 hits | Print | PDF |  E-mail | Report | Read more

54. "Voetstoots"

Almost every Deed of Sale/Offer to Purchase relating to the sale of immovable property contains a clause stating that the property is sold "voetstoots" (as is/as it stands). What is the effect of such a clause? Under the common law the...

Friday, 06 February 2009 | 739 hits | Print | PDF |  E-mail | Report | Read more

55. 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...

Friday, 06 February 2009 | 712 hits | Print | PDF |  E-mail | Report | Read more

56. Tips on Buying Property

Buying a property is most people’s biggest financial commitment. Most also look at it as a long life investment. So why not take time and do it right? Buying a property might be time consuming, expensive and frustrating but in today’s...

Monday, 09 February 2009 | 709 hits | Print | PDF |  E-mail | Report | Read more

57. PURCHASING IMMOVABLE PROPERTY IN SOUTH AFRICA AS A NON-RESIDENT

There are various issues involved in purchasing immovable property in a foreign country which extend beyond the mere signing of contracts and documents and paying of money of which the aver-age non-resident interested in purchasing property is...

Monday, 09 February 2009 | 682 hits | Print | PDF |  E-mail | Report | Read more

58. Early Termination Interest

Any bond holder intending to sell or cancel their home loan should take heed of the following information. When the home loan is granted the normal period that the client will take to repay the bond is 20 years and the prevailing bond rate at that...

Monday, 09 February 2009 | 674 hits | Print | PDF |  E-mail | Report | Read more

59. SECTIONAL TITLE SCHEME CONDUCT RULES

  Every sectional title scheme has rules which bind the body corporate and the owners and occupiers of all units in the scheme. There are two sets of rules, namely the management rules and the conduct rules. The management rules deal...

Friday, 06 February 2009 | 670 hits | Print | PDF |  E-mail | Report | Read more

60. 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...

Wednesday, 18 March 2009 | 649 hits | Print | PDF |  E-mail | Report | Read more