Property Law Update

Law Update : Issue 7

02 December 2011

DECEASED ESTATES AND THE RIGHT TO MAINTENANCE

South African law upholds the principle of freedom of testation. This means that people have virtually absolute control over the devolution of their estates in that they can make almost any bequests. But what happens when the testator forgot to make provision in his will for a child or spouse’s maintenance after his death?

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Summary

TELLING THE BANK THAT YOU ARE OVER-INDEBTED MAY TRIGGER INSOLVENCY PROCEEDINGS

Investec Bank Limited and Another v M Mlisana and Another

In a recent judgment delivered in the Western Cape High Court it was held that, in certain instances, the delivery of a notice by the consumer or his debt counsellor in terms of the National Credit Act advising his debtors that he is over-indebted and seeking debt review can constitute an act of insolvency. Accordingly, depending on the circumstances, the delivery of such a notice to a credit provider may entitle that credit provider to institute sequestration proceedings against the debtor’s estate.

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Summary

THE NEW CONSUMER PROTECTION ACT: NO MORE ‘TRADING AS’?

In the past individuals and juristic entities have always traded freely under an array of “Trading As” names. However, now for the first time, such a practice is to be strictly regulated.

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Summary