What is FICA? FICA is the Financial Centre Intelligence Act no 38/2001 (the Act) which came into force on 3 December 2001 What is the reason for the Act? To help prevent financial crime such as money laundering, fraud and terrorist financing. Who enforces the provisions of the Act and oversees it? The Financial Intelligence […]
The distinction between the two concepts is as follows : A notarial tie of two or more properties is an agreement concluded with a third party, typically a local authority, not to dispose of any of the properties that are the subject of the agreement without that third party’s consent. The agreement is signed by
NOTARIAL TIES AND THE CONSOLIDATION OF PROPERTIES Read More »
A sectional title scheme has two components: sections and common property. Sections are owned by one or more persons. Common property is that part of a scheme that does not consist of sections but is owned by all the owners of the sections in undivided shares determined in accordance with each owner’s participation quota. Common
MAINTENANCE OF EXCLUSIVE USE AREAS IN A SECTIONAL TITLE SCHEME Read More »
As we become immersed in the digital age, so electronic communication in various forms has become a way of life.However, despite the speed of technological change and the extent to which we use technology, certain restrictions do present themselves. A case in point is the signature of certain types of legal documents. While the average
Electronic Signatures in Legal Agreements Read More »
In commercial transactions concluded by a party registered as a VAT vendor in the terms of the Value Added Tax Act, 1991 (the Act ), the vendor charges VAT at the standard rate of VAT (currently 15%) on goods or services provided by him in the course of his enterprise as a vendor. Not all
Simplifying VAT: How Zero-Rated Transactions Benefit Property Purchasers Read More »
It often happens that an owner wants to increase the size of their apartment or home by adding extra space. This could be done by either creating a patio or extending an existing room or similar. Also possible is the erection of a free standing building on common property linked to the section in question.
Sectional Titles Act: Know the law before extending your home Read More »
All agreements, whether verbal or reduced to writing, have terms and conditions. The meaning and effect of the two concepts are however very often confused. The terms of an agreement are the undertakings the parties give to each other to make up their agreement. To use an agreement for the sale of land as an
TERMS AND CONDITIONS IN AGREEMENTS Read More »
Every person has a home for legal purposes . It is the country whose governmental authority that person heeds, where he pays his taxes, where he derives state benefits etc. This is known as his country of domicile. The term “domicile is derived from the Latin term “domicilium” which in turn comes from “domum colere”,
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Contrary to popular belief, a document purporting to be a will can be regarded as a will even though the formalities required for the will to be signed as per the Wills Act, of 1953 have not been complied with. The requirements for the valid execution of a will are: Signature by the testator in
THE VALIDITY OF WILLS Read More »
SIGNATURE OF DOCUMENTS Despite the increasing popularity of electronic signatures, certain documents still require signatures in the old-fashioned way (ie by wet ink) to ensure their compliance with the relevant statutory law. These are: 1. Agreements for the disposal of land (The Alienation of Land Act, 1981) 2. Wills (The Wills Act, 1953) 3. Cheques(!),
