Homeowners Struggle to Sell Properties Amidst South Africa’s Economic Challenges

In the current economic climate, South African homeowners find it increasingly difficult to sell their properties. A combination of high interest rates, stagnant economic growth, and rising living costs has created a challenging environment for the real estate market. High Interest Rates One of the primary factors contributing to the sluggish property market is the…

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A summary of the administration process of deceased estates

Losing a loved one is undeniably one of life’s most challenging experiences. Amidst the emotional turmoil, there’s a practical aspect that often needs immediate attention: the administration of the deceased’s estate. In South Africa, this process can seem daunting and complex, especially for those unfamiliar with legal procedures and requirements. However, with the right guidance…

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Asset-for-Share Transfers

Asset-for-Share Transfers: The Basics An asset-for-share transaction, as articulated in section 42 of the Income Tax Act, Act 58 of 1962 (herein the ”ITA”), involves the exchange of assets (such as immovable property) for shares within a company. Instead of a cash payment, the seller receives shares in the acquiring company, effectively becoming a shareholder.…

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Navigating the Divorce Process in South Africa: A Step-by-Step Guide

Navigating the Divorce Process in South Africa: A Step-by-Step Guide Divorce is a significant life-changing event that necessitates a structured approach. In South Africa, the legal process of divorce follows a series of specific steps designed to protect the rights of both spouses and facilitate the dissolution of marriage fairly and equitably. Below, we explore…

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Enforcing Property Sale Contracts

*  This blog is for information purposes only and should not be viewed as legal advice offered by Burden Swart & Botha Attorneys. It so often happens, that purchasers experience buyer’s remorse after signing an offer to purchase on an immovable property.   It is important to know what recourse the Seller has when a Purchaser…

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Electronic Signatures & the Alienation of Land Act

Being in the 21st century, a frequently asked question is whether electronic signatures are acceptable during the sale of an immovable property.   The Electronic Communications and Transactions Act 25 of 2002 (ECTA) has for an extensive period enabled and facilitated electronic communications and online transactions, addressing technological barriers to promote agreements and transactions more…

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Explaining the Estate Administration process

The family of a deceased are often confronted with the reality of having to wind up a deceased’s estate after his or her passing. Usually, there is the expectation that this should go quickly, but unfortunately, the reality is that the process is not a quick one. So what is the process to wind up…

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DEFINING ‘GOING CONCERNS’ RELATING TO CONVEYANCING

In the context of conveyancing, a going concern refers to an operational business or property and is, at the time of the transfer from one owner to another, generating income. The following common misconception exists among Sellers and Purchasers: If the Seller and the Purchaser in a property transaction are registered VAT vendors, the transaction…

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