Pretoria Deeds Officie | 15 November 2017

The Pretoria Deeds Office has confirmed that the last day for registration will be 21 December and that their offices will also close on this day. It is likely that the volumes of transactions lodged for registration will increase in the countdown to year end and this will definitely impact on turn-around times in that […]

Homeloans and Foreign Marriages: ABSA and FNB Specific Requirements | 21 September 2017

We have received indication from both ABSA and FNB that where a client’s marriage is governed by the laws of a foreign country, these banks require that the bond must be registered in the name of both spouses and that the application submitted needs to be by both spouses notwithstanding that the spouse applying for […]

Transaction Delays and the Current Power Outage | 06 September 2017

As you, we are also concerned about the consequences of the current power outage in the greater Johannesburg. This impacts on transactions awaiting registration in the affected deeds registries and delays are, regrettably, inevitable. It also impacts on the turn-around time of all other transactions, due to associated outages at municipalities, the Master’s Office and […]

Landmark Historical Debt Ruling | 31 August 2017

The Constitutional Court ruled on Tuesday this week that new property owners cannot be held liable for historic municipal debts incurred by previous owners. Once ownership is transferred in a Deeds Registry, the local authority cannot demand a new property owner to settle historical debt or suspend municipal services due to outstanding municipal debt. The […]

New Caps On Foreigners Acquiring Farm Land | 24 March 2017

The Regulation of Agricultural Holdings Bill was published for public comment on Friday of last week. The Bill sets as its aim, to “foster conditions which enable citizens to gain access to land on an equitable basis” and to “redistribute agricultural land more equally”. It determines, amongst other things, that: Foreigners may no longer acquire […]

Must I Register Even If I Lend Only R1 000? | 14 March 2017

The National Credit Act sets out the requirements that detail when a person lending money to another must formally register with the National Credit Regulator. Before the recent amendments to the Act, registration as a credit provider was only necessary when the principal debt owing to that money lender exceeded R500 000, or if that […]

Witnessing A Property Sale Agreement | 13 March 2017

Must a sale agreement of land bear the signature of a witness in order to be valid? No, there is no such requirement in our law although it is generally advisable to have witnesses sign the agreement to facilitate proof, should it become necessary, that the signatures that appear are those of the seller and […]

Deeds Office Delivery Delays | 10 March 2017

There is a backlog at the Cape Town deeds registry regarding delivery of registered deeds. Our offices are now receiving delivery of deeds registered as far back as October 2016. Please bear this in mind should you be awaiting your title deed for any further dealings with your property. We have received confirmation from the […]

2017 Budget News | 22 February 2017

Minister of Finance, Mr Pravin Gordon, delivered the National Treasury’s budget for 2017/2018 this afternoon. The following amendments stand out: Super Tax Bracket (Individuals) – 45% on income above R1,500,000 p.a. Trust Tax Rate increased to 45% (from 41%) Increase to Effective rate of Capital Gains tax for Trusts / Super Tax Bracket Dividends Tax […]

Level three water restrictions | 28 November 2016

A reminder of the City of Cape Town’s Level 3 Water Restrictions that have been in place since 1 November 2016. Herewith the City’s notice setting out the details of the restrictions. Should you require more information, contact your STBB Conveyancer.