When can the bank repossess and sell a house in execution? When a homeowner fails to pay his monthly payments on his/ her home loan, then the bank can start repossession or foreclosure proceedings against such a homeowner. The mortgage bond agreement that is signed between the bank and the homeowner, gives the bank the right to repossess the house, in the case of non-repayment of the home loan. Rule ...
Are you following the correct procedure in evicting your tenants? A landlord can only evict a tenant under specific circumstances as outlined in the Prevention of Illegal Eviction from and Unlawful Occupation of Land Act (PIE). These include: If the tenant has breached the lease agreement, such as by failing to pay rent on time or by causing damage to the property. If the tenant has used the property for ...
Can a court judgment be set aside? WHEN CAN A JUDGMENT BE SET ASIDE? A rescission of judgment is a legal process that allows a party to apply to the court to have a judgment that was granted against them set aside. The term "rescission" refers to the cancellation or reversal of a judgment, which means that the judgment will no longer be in force. A rescission of judgment is ...
Co-habitation Agreements Life partners who are merely living together, do not have the same rights, as those life partners who are married. It is therefore recommended that life partners who are not married, enter into a cohabitation agreement. This will prevent expensive litigation about assets or other rights and duties, should the life partnership or the vat-en-sit arrangement, come to an end. A co-habitation agreement in South Africa is a ...
Why get an attorney to sell your home? Attorneys play a significant role in property transactions, providing several benefits to both buyers and sellers. Here are some of the key advantages: Legal Expertise: Attorneys have a deep understanding of property law and can ensure that the legal aspects of the transaction are handled correctly. This includes preparing and reviewing the offer to sale agreements, ensuring compliance with local laws, and ...
Landlords and municipal services to unlawful tenants In the case of Emalahleni Local Municipality v Lehlaka Property Development (Pty) Ltd (2023), the Supreme Court of Appeal upheld the rights of Lehlaka, who was a private property owner, to end its consumer agreement with the municipality and thereby allowed Lehlaka to stop paying the municipality for services to be delivered to unlawful occupants. The court confirmed that Lehlaka had no constitutional ...
The continued marketing clause The continued marketing clause, is also known as the 72-hour clause and it allows the Seller and the estate agent that the Seller appointed, to continue with marketing efforts, even after a Purchaser signed a binding offer to purchase contract, on a particular house. Should the Seller receive another offer, a better offer, or even a similar offer, then the Seller may notify the first Purchaser ...
How long does it take to wind up a deceased estate? Every deceased estate has different circumstances that impacts on the timelines for winding up the deceased estate. Factors that speed up the finalising of a deceased estate include whether or not the deceased left a valid testament or not, family disputes, the complexity of the estate which includes factors such as the amount, nature and the location of the ...
Why am I paying so much levies on my flat? Levies in a sectional title scheme are calculated based on the expenses required to maintain and manage the common property, the shared facilities, as well as the shares expenses of the scheme. Apartment buildings in more affluent suburbs or older apartment buildings that have high maintenance requirements, typically have higher levy fees. Higher fees are also found with complexes that ...
Default Judgments, Foreclosures and worst... what does it all mean? With the hikes in interest rates, many homeowners are feeling the pinch with bond instalments nearly doubling since the Covid years. Now while it might be tempting to skip paying your bond instalments or the levies on your sectional titles home, one should avoid this temptation because banks and other mortgage bond service providers are foreclosing much earlier these days, ...