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FORMAL REQUIREMENTS WHEN IMMOVABLE PROPERTY IS ACQUIRED/DISPOSED OF BY A TRUST
Interesting • 9th Nov, 15



Although the purchase of immovable property in the name of a trust may have significant estate planning benefits as well as providing for the protection of assets in the event of insolvency, there are a great number of formal requirements which need to be met in order to ensure that the agreement for the disposal of immovable property to or from a trust is valid and binding on the parties. Failure to comply...


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Venalex (Pty) Ltd v Vigraha Property CC and Others (2015) 2 All SA 645 (KZD)
Interesting • 8th Oct, 15



In this recent judgement handed down by the Durban High Court, Kwa- Zulu Natal Division the Applicants approached the Court for a declaratory order to the effect that an agreement of sale for the purchase of immovable property was valid and binding.  The principal issue to be decided by the Court was whether the proper construction of the wording “company to be formed” in the sale agreement was that the purchasing company must...


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The illegality of withholding of a levy clearance certificate by the Body Corporate
Interesting • 18th Sep, 15



Recently we were instructed to attend to the transfer of ownership of the sectional title property in the Deeds Registries Office at Cape Town, and the Body Corporate of the sectional title scheme refused to issue a levy clearance certificate to the seller due to the fact that he had made  an unauthorised extension to his sectional title unit. The concern was that the sale could be cancelled or other financial loss could...


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