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The Property Practitioners Act 22 of 2019 (the PPA) places an obligation on sellers to disclose to prospective buyers whether or not there are defects on the property before the purchaser buys the property. In fact, a disclosure form is now compulsory where the seller must disclose such information.
Each municipality in South Africa has specific regulations and procedures for building plan approval. It's essential for the success of your project that these local requirements are thoroughly understood and adhered to.
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.
When a developer wishes to establish a sectional title scheme on land that has an existing building wholly or partially let for residential purposes, the developer has to comply with Section 4(3) of the Sectional Titles Act.
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.
Throughout a person's life, they will accumulate a variety of assets and obligations. These assets can range from tangible items such as property, vehicles, and furniture to liquid assets like cash. On the other hand, liabilities may include home loans, personal loans, and retail accounts.
Property practitioners are often involved in marketing property which is an asset in a deceased person’s estate. However, buying from a deceased estate can deter buyers or investors from pursuing the purchase because such transfers are known to take longer than usual to finalize.
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.
SPLUMA came into operation on 1 July 2015 with the purpose being to develop frameworks that regulate planning authorisations and promote consistency with regards to land development under a municipality’s jurisdiction.
When it comes to transfer duty in South Africa, it’s important for to understand what one can expect to pay when purchasing property in South Africa as well as what the difference is between transfer duty and transfer costs.
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