Ensure a Transfer Duty with No Surprises Part 3
I have recently been inundated by elderly parents wishing to transfer their immovable property to their children before they pass away. I reminded the parents that if the children are not liable to pay for the property, the transaction may be deemed to be a donation by the South African Revenue Services (SARS), and they […]
Compliance certificates required when selling a property
There is a duty on the Seller when selling an immovable property to provide certain certificates of compliance to the Purchaser. There are five compliance certificates that the Seller is required to obtain at his/her own cost before the transfer of the property takes place. The following are the necessary certificates: Electrical Compliance Certificate The […]
Immovable property ownership and spouses
INTRODUCTION When does a spouse who is entitled to receive a half share in immovable property become the owner of that half share? Does the real right in respect of half share in immovable property vest immediately upon granting of a divorce decree or does a spouse acquire personal right to claim formal transfer in […]