Do trusts still have a role to play in estate planning?
“My wife is pregnant with our first child and I am considering whether to set up a family trust for estate planning purposes. Lately however I have read negative commentary about using trusts, particularly anti-avoidance tax legislation aimed at trusts. I don’t want...
When do the levies of a sectional owner increase after an extension of their unit?
“I live in a sectional title scheme and pay levies according to the participation quota of my unit. However, a number of unit owners have recently extended their units and although the body corporate has approved such extensions, I know the sectional plans have not...
Can you convert the garage of your sectional title unit into an extra room?
“In our sectional title scheme, I’ve heard that one of the unit owners is busy planning to convert her garage into a hair salon and then park her car in the public parking area. I’m not happy with this at all as not only will it increase unknown persons in the...
How enforceable is that restraint of trade really?
"We recently interviewed a software engineer for a position at our company. In the interview it came to light that the engineer had just left the employ of one of our main competitors and that he was bound by a restraint of trade in terms of his previous employment...
Why a Fidelity Fund Certificate is important for you and your estate agent
“I’ve finally received my qualification to practise as an estate agent, but am still waiting for my Fidelity Fund Certificate. Some people say I can start practising as an estate agent as long as I’ve applied for my Fidelity Fund Certificate. Is this correct, and can...
Can I ignore the notice of demand if delivered at the wrong address?
“I signed a personal guarantee for my company with a credit provider. The company has defaulted on payments and the credit provider now sent me a notice demanding payment under the guarantee. However, they sent it to the company office and not to my domicile address...
The Rental Housing Amendment Act: What you need to know
There has been quite a buzz over the past few months regarding the Rental Housing Amendment Act, in the belief that a date will soon be set for the implementation of this new legislation. This is according to Tobie Fourie, national rentals manager for the Chas Everitt...
Why boosting tourism will benefit SA’s property market
During the recent SONA, President Ramaphosa announced that further support would be given to the tourism sector to market South Africa and double the number of foreign tourists to 21 million a year by 2030 - a goal that could have major implications for property. A...
Hidden costs when using set-fee estate agencies
Low-cost real estate agencies have been making an undeniable splash in the media recently. With the cost of living for South Africans rising every day, it’s certainly refreshing to see a service that claims to be dropping prices rather than increasing them. Like many...
The underlying agreements may determine whether the National Credit Act applies to your transaction
“My company rents out large construction equipment to developers. One developer has fallen behind in its rental payments. Using the shareholder sureties, we hold we have negotiated a settlement agreement for the outstanding rentals and interest with the developer, but...