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It is recommended that blocks of flats or group housing schemes be converted to sectional title as soon as possible if they haven’t already done so.
When very important decisions need to be made by sectional title owners, then a unanimous resolution needs to be passed.
When a party fails to do something they are supposed to do as per the sales agreement then the transfer of property could be delayed.
Expanded criterion for the grant of the statutory exemption against the Professional Designation Examination implemented.
In the case of one complex, a newly appointed managing agent found out that there weren’t any fire hoses or fire hydrants located in the complex.
There are instances where the management companies of upmarket estates deduct a percentage of the value of a property automatically (usually from the estate agent's commission).
Effective as of 1 April 2018, the will be an increase of the VAT rate from 14% to 15%. Real estate transactions are also affected by the increase.
In a sectional title scheme, the question arises of what happens when there is no mention in the title deed or purchase agreement of the presence of a Homeowners Association.
It is important to remember that the body corporate are just a group of people who have the responsibility of ensuring the scheme is run correctly and efficiently.
When a rouwkoop clause occurs in a sale agreement of an immovable property, a deposit is paid to the seller which would be forfeited in the event of the buyer withdrawing from the sale agreement.
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