by Theresa Grobler | Dec 21, 2021 | Blog
1.The Administration of Estates Act, 66 of 1965 (“the Act”) determines the way in which a deceased estate is to be administered/wound up. First of all, the estate has to be reported to the Master of the High Court (“the Master”) within whose area the deceased had...
by Theresa Grobler | Aug 1, 2021 | Blog
1. THE SELLER’S EXCLUSIVE RIGHT TO NOMINATE THE TRANSFERRING ATTORNEY 1.1 Once a property owner has accepted an offer for the purchase of his property whereby a deed of sale has come into operation (provided the transaction is not subject to fulfillment of a...
by Theresa Grobler | Jul 26, 2021 | Blog
A simple property transaction can become fairly complicated if, for example, the seller dies during the transaction, i.e. prior to transfer of the property to the purchaser having been effected at the Deeds Office.SALE PRIOR TO DEATHAn agreement of sale that was...
by Theresa Grobler | Jul 26, 2021 | Blog
TRANSFER DUTY OR VAT?Whenever immovable property is being transferred from A to B (irrespective of whether the parties are individuals or legal entities), the transaction will be subject to taxation by SARS, either in the form of transfer duty or value added tax...
by Theresa Grobler | Jul 26, 2021 | Blog
On 1 September 2007, section 35A of the Income Tax Act, No 58 of 1962 (“the Act”), came into operation.In terms of Sec 35A of the Act all purchasers of immovable property (including non-residents) are burdened with a statutory duty to withhold a certain percentage of...
by Theresa Grobler | Jul 26, 2021 | Blog
In the previous article of this series the difference between patent and latent defects was discussed. The way in which the owner of immovable property would protect him/herself against a claim by a purchaser based on defects not disclosed to the latter is to have a...
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