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The Davis Tax Committee (DTC) in its first interim report on estate duty recommended that it would not be advantageous to impose an annual wealth tax or similar form of taxation. It is unfortunate that the former Minister of Finance did not accept that recommendation and instead requested the DTC to reconsider the matter. That […]
In an advanced economy proof of ownership of most assets is recorded in a document. The safekeeping of that document is vital to the owner of the asset. For example, title deeds to land are registered in the Deeds Office. Deeds Office records provide proof of ownership. As a precaution against the loss of documents, […]
Leases sometimes contain a clause entitling the lessee to renew the lease at a rental to be agreed upon. It has long been established law that such a clause is unenforceable as it requires the parties to agree on the rental. A right of renewal is enforceable only if the rent is stated or is […]
A purchase and sale agreement in respect of immovable property is signed. The first question the conveyancer is likely to be asked is "How long will the transfer take?". The response to that question will be influenced inter alia by whether the purchasing entity needs to be formed. And thereby hangs part of this tale. […]
Thekweni Properties sued its tenant for payment of arrear rentals owing in terms of an agreement of lease. In a special plea the tenant alleged that the landlord had divested itself of the power to sue for rental by virtue of a cession in securitatem debiti in favour of a bank. The Durban High Court […]
John and Jane marry out of community of property by Antenuptial Contract which automatically includes the accrual system introduced by the Matrimonial Property Act No. 88 of 1984. Section 2 of the Act states that "every marriage out of community of property in terms of an Antenuptial Contract by which community of property and community […]
In a contract for the sale of land, one of the clauses to be negotiated is whether the conveyancer will be nominated by the seller or the purchaser. If the agreement is silent on the appointment of the conveyancer, it was held in the case of James versus Liquidators of the Amsterdam Township Company 1903 […]
