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The Offer to Purchase needs to contain all the terms the the parties agree to, such as date of occupation, occupational rent, fixtures and fittings and other conditions of sale.
Regarding the first question raised, when a suspensive condition with limited time is included in a contract, the time limit is usually intended to be for the benefit of the seller, while a condition requiring a loan to be obtained is usually for the benefit of the purchaser.
In a much anticipated Constitutional Court Judgment it was been ruled that new property owners are longer expected to take responsibility for settling municipal debt incurred by previous owners of the acquired property.
Are you a property owner wanting to let your flat out for short term rentals?
Before doing so you will need to familiarise yourself with the Municipal Planning By-laws and, if applicable, with the rules of the body corporate.
The presence of several agents can lead to confusion about which agent introduced the buyer in the first instance.
Generally speaking, nobody likes to dwell on the subject of their own death. Unfortunately, it is something that none of us can escape and ignoring the consequences can make things that much harder for those left behind.
When you sell an asset, you may have to pay capital gains tax (CGT), unless there is an exclusion clause that you can apply. CGT came into effect in South Africa on 1 October 2001.
Parties as well as their attorneys should thus study every aspect of the domicilium clause to familiarise themselves with the service processes regarding legal notices and summonses.
Van Deventers & Van Deventers Incorporated can help you structure your property investments to attract less CGT on the disposal of immovable property.
We can clearly see the dire need for an amendment of the Recognition of Customary Marriages Act in order to address uncertainties and contradictions, especially where women in customary marriages are concerned.
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