The Conveyancing Process

On paper, the term “conveyancing” refers to the transfer of a property’s ownership from one individual to another. In practice, however, conveyancing is more of a finely choreographed dance that occurs between multiple stakeholders. Many of these stakeholders have conflicting interests but all of them have to coordinate with complete precision to allow for a successful transfer to take place....

3 Good Reasons Why You Should Have A Will

Let’s face the facts: nobody likes to think about their own death, let alone the nitty-gritty details of what will follow as their earthly affairs are wrapped up in their absence. Unfortunately, the truth is that death is not only inevitable but in many cases unexpected, leaving those without wills at the risk of passing away without the opportunity to give their final instructions.  At EGA, we...

3 Occasions When You Might Need A Notary

3 Occasions When You Might Need A NotaryA Notary Public, also known simply as a notary, is an attorney who is legally empowered to witness the signing of documents, take statements from the public, and certify that the contents of official documents are indeed true and correct.You may ask: how is this any different from a commissioner of oaths? While it is true that a notary and a commissioner of oaths...

How it works: Marrying In or Out of Community of Property

The period between the start of an engagement and the eventual walk down the aisle will be one of the most exciting and memorable times of your life. Aside from the rosy glow of love and the emotional high that follows a successful proposal, you and your beloved will encounter a seemingly never-ending list of decisions that need to be made before your big day. While you making such important decisions as...

The benefits of creating a trust

Trusts are well-known to facilitate effective estate planning and continuity planning strategies. That said, setting up a trust – whether an inter vivos (between the living) or a testamentary (created in a will) − should be carefully considered and not just implemented blindly. The difference between testamentary and inter vivos trusts A testamentary trust is established when a person (the...

Customary marriages and community of property

Since the promulgation of the Recognition of Customary Marriages Act, 120 of 1998, the position has changed in that customary marriages are now recognised in our law. A marriage that is valid in terms of customary law and was in existence at the time of commencement of the Act, is for all purposes recognised as a marriage in terms of the Act. In the case of a person being in more than one customary...

Bail in South Africa

In any court case when a person is arrested, the accused person remains to be presumed not guilty until the court finds such person guilty.  In our law, no one may be detained without trial. If an accused is arrested, he or she is normally kept in prison or the police cells until the trial is finalised to ensure the presence of the accused at court. If the person wishes not to be imprisoned pending...

What should a conveyancer do?

Conveyancing (or conveyance) is the legal term for the process whereby a person, company, close corporation or trust becomes the registered and legal owner of immovable property and ensures that this ownership cannot be challenged. It also covers the process of the registration of mortgages. Conveyancing in South Africa can only be carried out by a licensed conveyancer, i.e. a lawyer who has passed the...

VAT increase and the effect on property transfers

The increase was announced in the Minister of Finance’s Budget Speech on 21 February 2018. The standard rate of VAT will change from 14% to 15% on 1 April 2018 (the effective date). How will this VAT increase affect property transactions, property registrations and estate agent commissions? Question 1: How will the rate increase work generally for fixed property transactions? The rate of VAT for...

How does the Budget Speech affect you, your property transactions and your estate?

Hereby a summary of the most significant proposals for the 2018/2019 Budget as tabled by the Minister of Finance 2018/2019 Tax Proposals: VAT: A one percentage point (1%) increase in VAT from 14% to 15%. No adjustments to the top four income tax brackets. Below inflation adjustments to the bottom three income tax brackets proposed. Fuel Levies: Overall increase of 52c/litre for fuel, consisting...

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