Property News - September 2024

Welcome to our Property Investment Newsletter, the aim of which is to keep you up to date and informed as to the most recent property trends and news.

Please feel free to contact us with regards to all your Residential, Commercial and Industrial sales, lettings, auction and property management requirements. We look forward to being of service to you!

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Articles

Legal Matters - Can You Sign an Affidavit Over Zoom?

It’s an important question – the invalidity of an affidavit could sink even the strongest case, so it’s vital to get this right. Of course, it’s always tempting to cut corners where you can on the commissioning side, and perhaps you urgently need to sign an affidavit but are far from a commissioner of oaths or perhaps for some reason you just can’t visit a commissioner physically.

Legal Speak Made Easy - “Rouwkoop”

Mostly found in property sale agreements, a “rouwkoop” (literally, “regret-purchase”) clause sets out how much a party who wants to pull out of the agreement without breaching it agrees to pay the other for the privilege. 

Sectional Title - Obtaining Body Corporate Information (Part One)

Do members of a body corporate have direct rights to access necessary financial information within sectional title schemes? 

SARS on Sectional Titles Schemes - The body corporate’s obligations to the Taxman

Back in November 2018, the South African Revenue Service (“SARS”) attempted to address the confusion in a document it published entitled Interpretation Note 64. The main purpose of the Interpretation Note is to unpack Section 10(1)(e) of the Income Tax Act, which exempts levies paid by members and received by or accrued to a body corporate from income tax.

Challenging the Heathrow Judgment - High Court Jurisdiction Over Community Scheme Disputes

According to Judge Sher, disputes falling squarely within the jurisdiction of the Community Schemes Ombud Service Act (CSOSA) should be referred to the ombud first, and the High Court should only hear such matters under exceptional circumstances.