Tag: property transfer

For those who have just won the Lotto – or in a more likely scenario – are exceptionally good at saving - choosing to buy a home in cash can have its advantages. However, this option also means forgoing tax benefits, and tying up a substantial amount of hard cash in a fixed asset for a long period of time.

The Property Practitioners Bill has now been signed into law by the President but it is not yet known when the Act will come into operation. The new Act deals with the marketing, promotion, managing, sale, letting, financing and purchase of immovable property and any rights, obligations, interests, duties or powers associated with or relevant thereto.

The South African Supreme Court of Appeal has again reminded us that it is not a requirement for a valid contract of sale that the seller must be the owner of the thing sold.