2018 BUDGET NEWS | 21 FEBRUARY 2018

Minister of Finance, Mr Gigaba, delivered the National Treasury’s budget for 2018/2019 this afternoon. The following amendments stand out: VAT increases from 14% to 15% on 1 April 2018. Estate duty increases from 20% to 25% on dutiable portion of estates of more than R 30 million. Donations Tax increases from 20% to 25% on […]

Our VOX System: Important Note | 11 January 2018

Dear Clients Best wishes for 2018! Just a short note to advise you that our VOX system is encountering a problem at present and we cannot access any emails or make payments. We are working with the service provider to resolve this as fast as possible and are confident that the repairs will be done […]

Cape Town Deeds Office Closure | 06 December 2017

The Cape Town deeds office has confirmed that the last day for registrations of current matters is 21 December. Their offices close on the 22nd. They open up again on 2 January 2018, but warned that in the first week or so they will have a skeleton staff complement only. It is likely that the […]

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 […]