1. Fixtures and Fitting Explained

  A buyer who purchases immovable property legally acquires the land together with all permanent improvements on the land. Permanent improvements include not only the physical structure but also items, which are permanently attached to the...

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

2. HOW LONG SHOULD A TRANSFER TAKE

 An interesting article appeared in this months De Rebus (the S A Attorneys Journal). The article written by Lizelle Kilbourn, a conveyancer, dealt with the questions of how long a "typical transfer" of property should take and how long...

Friday, 06 February 2009 | 1435 hits | Print | PDF |  E-mail | Report | Read more

3. Estate Agent Mandates

Estate agents are involved in the vast majority of property sales. The seller often grants an agent a mandate to sell his property for a specific price. Such a mandate may be verbal or in writing. Sometimes sellers have a change of heart...

Friday, 06 February 2009 | 416 hits | Print | PDF |  E-mail | Report | Read more

4. REGISTERING PROPERTY IN THE NAME OF A MINOR

I am quite often asked for advice on the advisability of registering property in the name of minors (unmarried persons under the age of 18).  Parents sometimes wish to invest in property and register the property in their minor child's...

Friday, 06 February 2009 | 1059 hits | Print | PDF |  E-mail | Report | Read more

5. 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 | 600 hits | Print | PDF |  E-mail | Report | Read more

6. 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...

Friday, 06 February 2009 | 803 hits | Print | PDF |  E-mail | Report | Read more

7. 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 | 505 hits | Print | PDF |  E-mail | Report | Read more

8. 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...

Friday, 06 February 2009 | 2596 hits | Print | PDF |  E-mail | Report | Read more

9. 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...

Friday, 06 February 2009 | 588 hits | Print | PDF |  E-mail | Report | Read more

10. Buying Property on Auction

South Africans are not used to buying and selling residential properties using auction sales. A property that is being auctioned usually conjures up pictures in the minds of people of liquidations and insolvencies. In countries like Australia,...

Friday, 06 February 2009 | 911 hits | Print | PDF |  E-mail | Report | Read more