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Fining a member in a sectional title scheme
Sectional Title Governance

Fining a member in a sectional title scheme

Sectional title schemes rely heavily on its members to ensure the effective functioning and operation of the scheme. While often not the first port of call, should other avenues have already been explored, there are situations in which a member of the sectional title scheme may be fined for contravening management or conduct rules.

September 28, 2018
Your bond settlement amount – a brief guide
Property Finance

Your bond settlement amount – a brief guide

The sale of a property can often bring with it unforeseen expenses, but this needn’t be the case. To take the mystery out of bond settlement costs, we have put together this brief overview so that sellers can plan appropriately and avoid being caught off guard.

September 28, 2018
Different forms of ownership of immovable property
Contractual Matters

Different forms of ownership of immovable property

We have put together the basics on each of the 3 most common types of ownership: full title ownership, sectional title ownership and long-term lease.

September 28, 2018
The right of first refusal
Contractual Matters

The right of first refusal

A right of first refusal is a mechanism in a contract that affords the holder of such right the preference to buy a particular property, should the owner ever choose to sell it.

September 28, 2018
Historical municipal debt
Legislative Guidelines

Historical municipal debt

Prior to the landmark decision in Jordaan and Others v City of Tshwane Metropolitan Municipality and Others [2017] there was some uncertainty around debts incurred by previous owners of a property.

August 31, 2018
The sale of a property as a going concern
Contractual Matters

The sale of a property as a going concern

Given certain conditions being met, a property can be transferred as a ‘going concern’ which can be beneficial to the transacting parties.

August 31, 2018
Auctions in the property industry
Contractual Matters

Auctions in the property industry

To help buyers looking to purchase property on auction, here is some crucial information relating to auctioned property.

August 31, 2018
Buying one party’s share of a jointly owned property
Contractual Matters

Buying one party’s share of a jointly owned property

There are a number of ways to deal with the undivided shares in fixed property held by two or more people. In the case of joint ownership by married persons, one such way is by one party becoming the sole owner of a property. The process for this will depend heavily on the matrimonial regime selected at the time of marriage.

July 22, 2018
Signing suretyship in South Africa
Contractual Matters

Signing suretyship in South Africa

Signing surety for another person, whether family, business partner or friend, can seem like a simple formality in order to help that person successfully conclude an important transaction. But before signing on the dotted line, make sure you know what you’re in for.

July 22, 2018
The Lapsed Offer to Purchase
Contractual Matters

The Lapsed Offer to Purchase

For prospective buyers who have found the right property, it is always an exciting but also a daunting time when an Offer to Purchase (OTP) has been signed and presented to the seller. The wait then begins before finding out whether or not it has been accepted.

July 22, 2018
Homeowners Associations (HOA) and Body Corporates
Sectional Title Governance

Homeowners Associations (HOA) and Body Corporates

For a number of reasons, popularity of sectional title schemes and homeowners associations have risen over the last couple of years, including better security options, affordability and unique living spaces. Understanding the differences between these two bodies is a must for any prospective home buyer in modern day communal living.

July 5, 2018
Multiple mortgages
Property Finance

Multiple mortgages

Extending finance on a home loan is possible in two ways: accessing funds under security of the already registered bond or, should the security provided under this bond not be sufficient, a second bond can be registered.

July 5, 2018
The terms of an estate agent mandate
Contractual Matters

The terms of an estate agent mandate

One of the most important purposes of signing an estate agent mandate is to create a binding agreement between the estate agent and the seller that sets out the terms of the arrangement agreed upon to market and sell the property.

July 5, 2018
Selling a sectional title unit
Sectional Title Governance

Selling a sectional title unit

Sectional title units have grown in popularity over the last number of years because of the increased security and affordability that these units offer. This is particularly true for first-time buyers or young couples starting out.

June 1, 2018
Foreign interest in South African immovable property
Legislative Guidelines

Foreign interest in South African immovable property

The South African property market’s continued growth in the last 10 years has proved to offer valuable investment opportunities, both for local buyers as well as for foreign investors. However, as with many transactions that reach cross international borders, a property purchase by an individual or company needs to comply with a specific set of regulations.

June 1, 2018