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The South African property market has been witnessing significant growth, making property investment an attractive option for generating income.
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.
Most contracts have provisions to cater for cancellation of the contract by the incidence of an event before the lapse of the natural term of the agreement. This is done to make provision for unforeseen future circumstances which may require that the obligations under a contract come to an end before their natural lapse.
It is commonplace that disputes arise in community living schemes owing to various reasons and therefore provisions must be in place to regulate dispute resolution processes between the parties involved. In the event that one party is not satisfied with the outcome of the adjudication process, this article will look at the process as to which such party may follow on appeal in pursuit of a favourable outcome.
It happens most often that some properties are transferred and sold from a deceased estate, with the purchaser having to transact with the heir or the executor of the deceased estate. In other instances, there is no sale involved, but that the property must be transferred from the deceased estate to the heir who is entitled to inherit such property.
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