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Common Law Marriage - A Common Misconception
In South Africa, many people believe that simply residing together with another person establishes legal rights and duties between them. However, there is no legal recognition of domestic partnerships and no such thing as a common law marriage in South Africa. If two unmarried parties live in the same house for any period of tim...
The Tax Benefits of Transferring a Primary Residence to a Natural Person
The tax benefits of transferring a primary residence from a CC, Company or trust to a natural person Individuals who own their primary residence in a trust, company or close corporation have until 31 December 2012 to take advantage of the tax exemption afforded by a SARS directive in terms of Section 9(20) of the Transfer Dut...
November 2011: Double Commission Danger!
"Double, Double Toil and Trouble" (Shakespeare) Particularly in these challenging times, properties are often marketed by multiple estate agents before a successful sale is finally achieved. The resultant risks (for all concerned) are illustrated in a case recently before the Supreme Court of Appeal. The sellers in questi...
October 2011 - Buying Property: Watch Your Wording!
You have found the perfect property, at the right price - now can you buy it in the name of a company that has not yet been incorporated? Indeed you can - a "pre-incorporation contract" is intended to bind the company as and when it is formed. But don't - in the excitement of the moment - sign anything until you have taken p...
September 2011: Splitting Heirs - Wills and the Dangers of Dispute
"I don't want to achieve immortality through my work. I want to achieve immortality through not dying. I don't want to live on in the hearts of my countrymen. I want to live on in my apartment." (Woody Allen) Immortality being (currently) beyond our reach, and death sometimes sudden, everyone - young and old - should have a w...