Court’s discretion: Redistribution of assets in marriages out of community of property without implementation of the accrual system
In October 2023, the Constitutional Court extended judicial discretion to order redistribution of assets at the dissolution of marriages out of community of property without accrual, entered into after 1 November 1984 and/or dissolved by death. This decision came from two interconnected cases, EB v ER and Others (CCT 364/21) and KG v Minister of […]
“I am signing my life away” – says every mortgagor
Signing your bond documents can be a stressful and overwhelming exercise if it is your first time because you are unfamiliar with the process. A bond is registered over a property as security for the bank for the monies lent and advanced to the mortgagor. After applying for the loan through a financial institution or […]
Deceased estates and estate duty
When attending to the administration of an estate, estate duty is required to be calculated, and if estate duty is applicable same needs to be paid to SARS upon receipt of the final assessment from SARS or within one year of the date of death of the deceased. Estate duty is calculated by taking the […]
The basic principles of discretionary trusts
A common misconception is that a Trust structure is a tool for only the wealthiest members of society. The Trust is a vehicle which can be used to acquire and preserve growth assets, and to transfer the benefit of wealth as a legacy for the benefit of current and future generations. The Trust structure is […]
Understanding the latest developments in Property Law in South Africa
South Africa has undergone some significant changes in property law in recent years. One of the most notable changes is the amendment to the Sectional Titles Act 95 of 1986 through the Sectional Titles Schemes Management Act 8 of 2011, which took effect on 7 October 2016. The 2016 amendment to the Sectional Titles Act […]
Who pays for what?
You have finally found your forever home or perfect investment property, put pen to paper and signed your Offer to Purchase. Over and above the purchase price, the next question for any Purchaser is: “What am I responsible for paying for?” In South Africa, it is the Seller who gets to nominate and appoint the […]
Notarial lease agreements
Lease agreements are contracts entered into between a lessor and a lessee for a specified period of time, allowing a lessee to occupy and enjoy the property for that aforementioned period. Most lease agreements have renewal periods after one year and they do not need to be registered at the Deeds Office. A notarial lease […]
Understanding notarial tie agreements
A Notarial Tie Agreement is a notarial deed entered into by two or more parties, in terms of which a condition is registered against the title deeds of the relevant properties, which condition provides that the properties cannot be “separately sold, leased, alienated or otherwise disposed of”. This means that the properties will be treated […]