Shared condominium has been introduced into legal systems for similar reasons: a solution for housing shortages and to accommodate the social and economic needs of a changing society. This article aims to evaluate the advantages and disadvantages between purchasing a unit in a sectional title in comparison to a freehold property.
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Investing in property is always an exciting, yet overwhelming experience. Favourable exchange rates create a certain appeal for foreigners buying property in South Africa.
A personal servitude can be described as the right to the enjoyment of another person’s immovable property.
The holder of the personal servitude is entitled to enjoy the immovable property as if it were their own, but should preserve the substance of the immovable property and not destroy it
A pre-emptive right, also referred to as a right of first refusal, is a contractual right often sought by a Lessee entitling such Lessee to obtain a first right to purchase the property that he/she is renting.
A deed of sale will remain valid and enforceable, should the seller or the purchaser die before transfer has been registered. The executor of the deceased’s estate would have to act on behalf of the estate.
When a person dies, the Master of the High Court appoints an executor to administer the deceased’s estate.
One of the most important aspects for a Muslim is to have their estate in order. This is an easier task when the country you reside in practices Islamic Sharia law. In South Africa however, Sharia law is not the law of the land and as a result, Islamic succession laws are not automatically implemented as they would in a country practicing Sharia law.
You may be thinking of purchasing in a sectional title scheme. Here are some common questions/ points to consider before doing so.
Although in an ideal world, most of us would elect to purchase property in our name by means of a cash transaction, the reality remains that the majority of property transactions in South Africa are financed in one way or another.
Thus, for many who have taken the great leap of purchasing property for the first time, the home loan application process can result in one of the most daunting experiences, especially where one possesses little to no knowledge of the processes involved.
In this article our attorneys in Cape Town discuss in brief, the role of the executor in a deceased estate and what qualities to look for in a potential executor.
When describing the role of an executor to my clients, for simplicity, I reference the fact that the executor ‘steps into the shoes’ of the deceased. However, there is a lot more that an executor must know and do, in accordance with the Law, as briefly discussed below.
Buying property; whether for personal, investment or business purposes, remains a stressful exercise.
As a result of the increase in price of properties and difficulty to raise the costs involved with maintaining and attaining a property; such as transfer costs, deposit and maintenance, many people are seeking to share some of the responsibility and financial exposure with another person/s.
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