231. Blank Spaces in Contract

All standard deeds of sale used by estate agents contain blank spaces which have to be completed relating for example to the amount of the purchase price, the date of occupation, the occupational rental payable etc. One of the parties to the...

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232. Exclusive Use Area

Most people who own property in sectional title schemes are familiar with the term "exclusive use area". However, a fair amount of confusion seems to exist regarding the exact nature of exclusive use areas. This is not surprising as there are...

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233. 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...

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234. 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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235. 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)...

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236. WITNESSING OF CONTRACT

   In practice, most deeds of sale used by estate agents contain blank spaces for witness's signatures. It is however not a legal requirement that such a contract be witnessed. Only the seller and purchaser need sign the contract and...

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237. 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...

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238. Zoning Of Land

Zoning Of Land Determining usage of property You may not use property for purposes other than that for which it is zoned - these zonings generally being residential, commercial or industrial. However, it is possible to apply for rezoning...

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239. Buying a property on Installment Sale

Selling property in the current market can prove to be frustrating. Many property sales are collapsing because the potential buyer is unable to obtain the necessary bond to cover the purchase price. In fact, as many as 50% of all bond...

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240. Sectional Title Levy's

Whether you are an owner, a trustee, a managing agent or an attorney, you will agree that levies are essential to the efficient running of sectional title schemes. Levies are the 'lifeblood' of the body corporate; owners have to pay them, and...

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