Entering into a mortgage bond with a co-applicant, be it a partner, family member, or trusted friend, is a familiar occurrence in the realm of homeownership. However, as circumstances evolve, individuals may find themselves contemplating the possibility of terminating their joint liability in the mortgage agreement.
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The South African Heritage Resources Agency (SAHRA) is responsible for overseeing the protection and management of heritage resources at the national level. However, provinces in South Africa also have their own Provincial Heritage Resources Authorities (PHRAs) that play a role in heritage management.
Molatelo Maloka, who purchased a home that turned out to have a number of defects. Despite the initial excitement of owning her dream home, Molatelo soon realized that the house was in a state of disrepair, including issues such as damp, a strong smell, and paint that was bubbling and cracking.
In order for an estate agent to be entitled to commission, they must have been the effective cause of the transaction. This means that they must have played a direct and significant role in bringing the buyer or tenant and the seller or landlord together and in facilitating the successful completion of the transaction.
A stipulatio alteri is a legal term that refers to a provision or clause in a contract that states that one party will receive a benefit or commission, regardless of whether or not they were the cause or reason for the contract being fulfilled.
Property transfer delays can be extremely frustrating for everyone involved and, what’s worse, is that often delays can cause unexpected costs from arising – costs that nobody prepared for.
There are a number of different role players when it comes to transferring property from one person to another. These include local municipalities, SARS, and body corporates to name a few. When attorneys to do not receive full cooperation from external role players, significant delays can be expected.
Due to the number of legalities involved with buying and selling property in South Africa, the process of transferring property from one owner to another can be extremely lengthy. Buyers and sellers often become frustrated with delays because they are not aware of how intricate the process is.
Property buyers have several options available to them when purchasing certain developments in South Africa. Traditionally, buyers had the option to purchase either a plot or a plot-and-plan but recently, another option known as a turnkey sale was introduced into the property market.
Property owners have the responsibility to check the municipal property valuation ascribed to their property. If the valuation of the property is not in line with the market value or if the categorization is incorrect, property owners must submit their objection before the objection period closes.
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