Unlawful use of Properties
Written by Guy Dakin
In most metropolitan areas many properties have undergone a change in use and are no longer utilised as originally intended. In many instances the shift away from the Central Business District area has resulted in former residential areas being utilised for business and other purposes. It is necessary to comply with the applicable Zoning Scheme Regulations regulated by the Municipality…
Most people are aware that there are certain costs involved in the purchasing or selling of a property. These costs can change depending on the entity that is used to buy the property in. This article will discuss the various cost items that typically affects a property transaction in South Africa. Costs to the PurchaserAttorney (Conveyancer’s) Fees The first cost…
Should you consider depositing your bonus into your bond account? The answer is undoubtedly yes! If we assume that you get a bonus of R15 000 and that a bond of R500 000 is financed over 20 years, you can save almost R70 000 in interest and reduce the term of your loan with 1 year and 6 months! This…
The purchase and sale of property in South Africa is governed in terms of our common law. In terms of our common law, any person with full legal capacity may enter into contracts in South Africa unhindered, and this is actually done on a daily basis - be it the foreign tourist who books accommodation or a flight, or purchases…
How to avoid Deeds Office pitfalls
Written by Meyer de Waal
An onerous title deed condition that isn’t discovered in time could delay or prevent the progress of a property development – with serious cost implications. Alternatively, such an omission could be costly when buying or selling property. Given this truism, the purpose of this article is to sensitise the reader to some pitfalls when dealing with title deeds. The deeds…
Having bought his dream home, Harry felt sure that his investment was secured against all unforeseen mishaps. After all, he had taken out home owners insurance with one of the leading insurance companies, according to the conditions of his bond approval. He could now happily begin paying the bond instalments. Everything went well for a year or two, until Harry…
The implementation of the Consumer Protection Act has been postponed to the 1st of April 2011 as the Minister of Trade and Industry is still in the process of finalising the regulations to the Act. They are also putting in place the structures required to implement the Act, namely the Consumer Commission and the Consumer Tribunal which will deal with…
A home is usually the biggest asset a consumer will ever acquire in his or her lifetime, but the stringent implementation of the National Credit Act by financial institutions is making it more difficult for potential home owners to enter the market. First time buyers and the self-employed are particularly affected. Nearly 50% of employed bond applicants are declined every…
You are no doubt aware that the Machinery and Occupational Safety Act of 1983 requires owners of buildings to hold a certificate of compliance in respect of the electrical installation. This has now been extended by recent amendments to the regulation.Peter Bowes advises that New Pressure Equipment Regulations have been promulgated under the Occupation Health and Safety Act, which bring…
Die wiele van ʼn verkooptransaksie word aan die rol gesit deur die ondertekening van ʼn koopooreenkoms of ʼn aanbod om te koop. In meeste van die gevalle is dit ʼn eiendomsagent wat die koopooreenkoms aan beide die koper en verkoper voorlê vir ondertekening. ʼn Eiendomsagent is die persoon wat namens die verkoper by die verkoop van onroerende eiendom optree. Nie…
Die Voetstoots Klousule
Written by Libo van Aswegen
Die voetstoots klousule kom algemeen in koopkontrakte van vaste eiendom voor. Die aanspreeklikheid van die verkoper ten opsigte van verborge gebreke gee aanleiding tot interessante regsnavrae van verkoper, koper en eiendomsagente. Hierdie artikel dien as ‘n oorsig van die voetstoots klousule. Bespreking Die Suid-Afrikaanse gemenereg bepaal dat die verkoper nie aanspreeklik is vir gebreke van vaste eiendom wat met die…
The New Consumer Protection Act
Written by Thys Swanepoel
The Minister of Trade and Industry, Dr. Rob Davies, has deferred the general implementation date to 1 April 2011. The postponement will give business and the public sufficient time to prepare them for compliance with the new law. However, the regulations are still outstanding and it is difficult to get a full picture of the impact. The public and stakeholders…