Part 1: Consequences of being married out of community of property including accrual
A marriage out of community of property is achieved by drawing up an antenuptial contract (ANC) prior to the parties marriage. One can either get married out of community of property INCLUDING the accrual or EXCLUDING the accrual. Section 4(1)(a) of the Matrimonial Property Act 88 of 1984 indicates that, the accrual of the estate […]
Altering your matrimonial property regime
In order for parties to change their matrimonial property regime from ‘in community’ to ‘out of community’, both parties will need to apply to the High Court in terms of Section 21(1) of the Matrimonial Property Act 88 of 1984 for leave to sign a notarial contract which, after registration at the Deeds Office, will […]
Requirements to restore a deregistered company
There are various circumstances in which a company (or close corporation) can become deregistered at the CIPC. The company itself can apply for deregistration at the CIPC, for any number of reasons. If a company has not submitted and paid its annual returns for more than two successive years, the CIPC will inform such a […]
What to do at the Municipality when your property transfer is registered
While it can be thrilling to finally receive the news from your Estate Agent that your house has been bought by an approved Buyer, a few important steps still need to be taken before the money is transferred to you. After the transfer has been registered, you need to start considering how the municipal accounts should […]
Usufruct and bare dominium
Let’s start with the words themselves, and see what they mean. Usufruct is the right to make full use of an asset without ownership. So, if you have the usufruct over a property, you can live in it, rent it out, holiday in it, and so forth; but because you don’t own it, you can’t sell it. Bare dominium, […]
The tenant-landlord relationship
The relationship between landlord and tenant is a symbiotic one, where the efforts of either party results in the best outcome for both parties. During the lockdown, this two-way relationship between many tenants and landlords has been threatened. The biggest contributor to this is quite simple: a lack of information. Paying your dues One of […]
Is 2020 still the best time to buy property?
The beginning of 2020 saw a real estate market that became more favourable for buyers with increasingly large numbers of home loans being granted by banks and interest rates being cut to lower than they had been in a long time. This is above and beyond the fact that the transfer duty threshold was lifted to R1 million, making the purchase of a property more affordable for everyone. Prior to the lockdown, […]