THE CREDIT AGREEMENT

If you default on a credit agreement and action is taken against you by the credit provider, you still have time, according to Section 129(3)(b) read with 129(3)(a) and S129(4) of the National Credit Act (“NCA”)[1] as well as the case of Firstrand Bank Limited v Nomsa Nkata[2] to re-instate the credit agreement until the […]

HOW TO MANAGE YOUR DEBT

Alecia had big financial problems; she had too much debt and her expenses outweighed her income. She decided to open a new bank account into which her salary could be paid, which would ensure that she could manage her salary before her monthly debit orders went off. Alecia thought it would be a good idea […]

TENANT AND LANDLORD – WHAT ARE YOUR RIGHTS AND OBLIGATIONS?

Sandra would like to move into her own place but like many people she is unsure what a lease is and what responsibilities it will place on her. A lease agreement is defined as the agreement entered into between the tenant and the landlord for the leasing of a property. The lease agreement regulates the […]

FIXTURES AND FITTINGS

Many transfer attorneys have heard the question from a seller: “May I remove the stove or the curtain rails or the shelves or the … ?” The most common dispute that arises between a seller and a purchaser is a dispute as to what is regarded as fixtures and fittings. The simple answer is that […]

HANTERING VAN DIE HUWELIK EN BOEDELBEPLANNING

Dit is belangrik om die wetlike implikasies van die huweliksgoedere-bedeling te verstaan. Dit is veral  belangrik tydens die opstel van testamente asook by die aangaan van ‘n huwelik, aangesien die bedeling wat ter sprake is, die bates sal beïnvloed. Die belangrikste vorme van huweliksgoedere-bedeling is die huwelik binne gemeenskap van goedere, die huwelik buite gemeenskap […]

I BOUGHT A PROPERTY THAT HAS PROBLEMS, WHAT NOW?

A seller’s protection under the “voetstoots” clause in a deed of sale for immovable property is not as “absolute” as some might think. It is still the seller’s duty to inform prospective purchasers about all latent (hidden) defects in a property. A seller’s failure to do so could cost the seller in the long run, […]

CAN SARS RE-ASSESS A TAX RETURN SEVERAL YEARS OLD?

Imagine the following scenario: a taxpayer named Andrew is on his annual vacation for four weeks. On the fifth day of his vacation, he is lying carefree in the sun with his toes wiggled into the warm beach sand.  A thought crosses his mind: perhaps he must check his email for a change. Fast forward […]

SA banks raising the deposit requirements for home loans

Buying a house in SA just got harder as banks raise deposit requirements. South Africa’s major financial institutions have responded to claims that they have started to raise deposit requirements for home loan applications in recent months amid an economic slump. Shaun Rademeyer, CEO of mortgage originator, BetterLife Home Loans, noted that banks are applying […]

Good conveyancers worth their weight in gold

Typically appointed by the seller, but paid for by the purchaser, conveyancers are an essential part of every property transaction, but what is it that they do, and how much value do they add for the buyer and the seller? The conveyancing fee is one of several costs – above and beyond the purchase price […]

Electricity price hike

Cape municipal property values could cause electricity price hikes Some prepaid electricity customers in Cape Town may be in for nasty surprise come October 2016, as the city adjusts their qualifying criteria for their subsidised Lifeline Tariffs. The new, more stringent rules add a maximum municipal property value to the mix that will see many […]

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