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If you are a South African citizen who is getting married in another country, it’s important that you understand all the legalities involved in this scenario.
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Co-ownership of property can be a really good solution to acquiring expensive assets together with like-minded friends. But what happens when your circumstances or relationships change? If your agreement is based on a hand-shake, are you joined at the hip until death do you part?
Living together unmarried has definite implications that ensure you need to plan your financial partnership very carefully. This is partly due to a lack of the obligations and protection that a marriage contract automatically provides.
Have you and your partner been thinking about joining the real estate game by buying a property together?
That’s easily understandable. It’s common for romantically involved partners, or even groups of friends to buy properties together. This is mostly because the salary of a young single person usually isn’t enough to cover the kind of bond they would like.
Debtors often make the big mistake of ignoring summons issued against them for payment. In such a case, the creditor may ask the court for default judgement.
Default judgements remain in effect for 30 years and will result in the blacklisting of the debtor, making it almost impossible to get credit.
Annexure 2 of the regulations to the Sectional Titles Schemes Management Act (STSMA) 8 of 2011 provides 8 prescribed conduct rules (PCR) which apply to all sectional title schemes. However, due to the unique nature of each individual scheme, these rules may be subject to amendment.
Transforming the property market in South Africa to ultimately allow inclusion of previously disadvantaged individuals is the principal purpose of the Property Practitioners Bill.
In order for a real estate agent to become qualified to earn a commission on sales made, a certain process must be followed.
Part of this process is undergoing sufficient education and training, making it harder to become a real estate agent than ever before.
After being published in June last year, the Amended Property Sector Code and Scorecard, which highlight the changes made with regard to BEE compliance, there was a sense of disinclination from members of the property industry.
This resistance towards the amendments may have emanated, in part, from the Code’s imperfections which still needed ironing out. However, it is in the best interest of the property sector to support the Code as well as the transition towards it.
Cancelling a sale of property after the sales agreement has been signed has major repercussions. Should the seller change his mind about the sale of the property, the costs involved with the cancellation can end up being quite costly.
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