21. 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...

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22. 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...

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23. 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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24. Who do I pay my deposit to?

 Depending on what is stipulated in your sale agreement, your deposit is either paid to the estate agency involved or to the Conveyancing attorneys attending to the transfer. Both these professionals should have trust accounts in which your money...

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25. Restrictions on Your Property.

Restrictions on Your Property. The use of every privately owned property in South Africa is subject to certain control measures, which may restrict you from making the changes you would like to make to your new home. If you are able to check...

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26. Rates Clearance Certificate from the Municipality.

When a property is changing ownership the transferring attorney will need to apply to the council (local authority) for a rates clearance certificate. The clearance figure is normally six months in advance on the sellers account. Only once the...

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27. Property Inspections.

 What is a Property Inspection? A Property Inspection is a Detailed and Systematic Visual Inspection of the Property, its Structures, Design and Fixtures that will provide a Transparent Understanding of the Property's 'Vital Signs'...

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28. 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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29. 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 | 508 hits | Print | PDF |  E-mail | Report | Read more

30. 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