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The sale of the assets is one of the most prominent ways of distributing assets. However such sale needs to be at market value, which can be achieved by getting two different valuations and declaring the average. However, the sale of assets such as property and company shares will invite Transfer Duty and Capital Gains Tax.
There is often conflict when there is shared responsibility for land and building and, the CSOS aims to manage operations and provide efficient and cost-effective methods for dispute resolution within community schemes.
Although South Africa breathed a collective sigh of relief as President Ramaphosa announced the start of lockdown level three as of the 1st of June, it’s no doubt that COVID-19 has had a severe impact of the market value of property in South Africa.
The decision to get divorced is not an easy one for couples to make as it’s the first step to a process which can be time consuming as well as emotionally and financially draining.
There are many disputes that come from contracts that were based on verbal agreements between two or more parties. Although there is no paper trail that can prove a verbal contract, verbal agreements are as legally binding as written and signed contracts.
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