Finance Minister Nhlanhla Nene has raised the transfer duty threshold to R750 000, decreased the rate for properties under R2.25 million, and raised it for those above.
Meyer de Waal draws our attention to the fact that because of problems, the Cape Town Master’s Office will continue to accept old trust registration forms until 1st of April.
When the Credit Amnesty comes into effect on 1 April, existing adverse consumer information, excluding unpaid judgments, will be removed from all Credit Bureau reports.
Cape Town homeowners who want to contest property valuations must realise that it is not a process that should be entered into without sufficient grounds.
The Estate Agency Affairs Board is wanting to introduce a mandatory one-year programme, to be completed by all intern estate agents, as from 2 January 2013.
Three diverse, fascinating speakers had Own Tomorrow conference attendees enthralled in Cape Town and Durban this week, as they will in Johannesburg next week.
A recap of the recent Own Tomorrow conference held in Cape Town, Durban and Johannesburg as well as a link to the presentations.
2012 will be the “tipping point” in the real estate industry when online marketing gains more traction than traditional print and other forms of advertising says Berry Everitt.
After nine years change has happened and the GhostDigest has been transformed into a sleek, clean new website.
The importance of financial literacy in buying and owning a home must not be underestimated and education is necessary writes Meyer de Waal of My Budget Fitness.
The 2012 GhostConvey Roadshow is not to be missed as in a world where technology is always evolving, ongoing innovation is the only way to stay ahead.
Korbitec's Attorney Activity Index is one of the best property forecasting tools available as it offers a valuable snapshot of the current property transaction pipeline.
Finance Minister Pravin Gordhan has for the first time since 2006 raised the transfer duty rate threshold.
Feedback from attendees and the winners of three iPad 2’s at this year’s Tipping Point Roadshow held this month.
The City of Cape Town will be hosting a conference on 10 and 11 November - Liveable Cities: Urbanising World. Meeting the Challenge to celebrate World Planning Day.
Finance Minister Pravin Gordhan's first budget speech had very little in it for the property sector.
Property owners in the Cape Metropole area have until the 30th of April to inspect and to object to the values of property which they own, so objectors had better get moving.
The Johannesburg Attorneys Association (JAA) is reviewing its legal options as the issuing of municipal clearance certificates system collapses.
City of Johannesburg Metropolitan Municipality v Gauteng Development Tribunal and Others - Chapters V and VI of Development Facilitation Act, constitutionality thereof.
Congratulations are in order for the three lucky winners in the GhostConvey Spot the Transfer competition held recently.
GhostConvey's 2010 national road show brought together industry leaders from across the country to discuss the market, the players and the technology. The event was enlightening and informative for all ...
A leading local estate agent has strongly criticised the Cape Town Deeds Office for its poor service levels.
The Johannesburg Attorneys Association - Property Law Sub-committee invites you to a conveyancing seminar at Deneys Reitz.
Law firm Routledge Modise begins practising as Eversheds in SA from 1st July.
Details of the Cape Town Rates Clearance offices opening times over the festive season.
A leading economy-watcher and former Black Consciousness activist has called for a scrapping of land grabs altogether.
An open letter from Simon Stockley of Integer Home Loans to Trevor Manuel to make home ownership more affordable.
Up to 400 000 deeds might need to be rescanned as a result of "power instability".
Hugo Fyfer and Marcia du Pont respond to Simon Stockley's Tips for Trevor.
The slowdown in the property market is a relief for the Pretoria Deeds Office's bid to recover the 335,000 title deed images it lost.
The Black Conveyancers Association (BCA) has called for a special repo rate for home loans.
MR Daniels writes that it is practically impossible to avoid incurring a penalty when cancelling a mortgage bond early.
Last week Routledge Modise, in association with Eversheds lodged a huge batch of 1325 linked deeds at the Pretoria deeds office.
Jeanne van Jaarsveldt a director of RE/MAX of Southern Africa has called for a review of home purchasing structural costs.
A number of interesting comments were made regarding last week's Another Appeal.
Six past and present directors of Durban law firm Meumann White have been cleared of touting allegations.
Absa Bank has decided to restrict the easy access homeowners have had to the equity in their homeloans.
Dr Willie Marais, president of the Institute of Estate Agents of South Africa (IEASA) has drawn agents' attention to the Civil Union Act.
The Cape Law Society has formulated a general guideline for attorneys when contracting with mortgage originators.
No - it looks highly unlikely according to recent data.
South Africa's property sector faces a total shutdown due to the continuing public servants strike and its impact on the country's deeds offices.
The NCA has apparently caused many home loans to be turned down since the beginning of June.
Cabinet has approved the Integrated Coastal Management Bill for tabling in Parliament.
The Mpumalanga Deeds Registry Office is to be opened soon. Meet the Registrar, his views and his project team.
Some estate agencies in Johannesburg, Pretoria and Cape Town have been abusing their trust accounts.
The deeds office in Johannesburg will be booted out of its 2 Rissik Street offices on 27 November.
The deeds office in Johannesburg will relocate to Marble Towers in Pritchard Street this weekend, after being evicted.
Last Thursday, the Council of the Law Society of South Africa (LSSA) and its constituent members unanimously adopted the Legal Services Sector Charter.
The Appeal Court has ruled that banks may attach and sell homes to recover debts.
Absa is offering its MyHome clients a 50% discount on conveyancing fees.
The Magistrates Court Amendment Bill, which protects the sale of homes of the poor, is to be fast tracked.
A really big CGT and transfer duty bonus from Trevor Manuel to property buyers.
The offices of the Chief Registrar of Deeds, Registrar of Deeds and Surveyor-General are to be relocated.
Regulations on public property syndications that prescribe the minimum information that must be made available to investors in a disclosure document have been published.
A Legal Services Charter is to be launched soon to address "glaring" inequalities in the legal sector.
The Law Society of the Northern Provinces proposes to launch a publicity campaign to promote the role and importance of the attorney/conveyancer.
Charlene Clayton investigates aspects of the mortgage origination industry.
South African house prices rose an annual 6.5 percent in June, the slowest pace of growth in almost three and-a-half years, according to Standard Bank Group.
The Housing Consumers Protection Measures Amendment Bill recently published with extensive amendments and of relevance to conveyancers.
Minister of Housing Lindiwe Sisulu has committed work to black conveyancers at first BCA AGM.
The controversial Toward the Framework for the Review of the Willing Buyer-Willing Seller Principle document is available online.
Deeds examiners in deeds offices around the country will be going on strike on 7 November.
The city council let a Heathfield householder run up an R86,000 rates and municipal services bill, which it now insists that the property's new owner must pay.
The Department of Housing has published draft Regulations in terms of Section 12 of the Home Loan and Mortgage Disclosure Act No. 63 of 2000, for public comment.
The annual Deeds Regulation Board meeting was held on 19 July 2006 in Pretoria.
Absa sees a house price growth of between 15% and 20% this year, after growth of over 30% last year.
The City of Cape Town has halted R1-billion in developments planned for the Waterfront because, it says, the V&A Waterfront Company is not following the correct approval procedures
An urgent letter from the KwaZulu-Natal Law Society about changes to the 2005 LEAD conveyancing course.
The property boom boosted government revenue last year and banks increased their mortgage lending by 23 percent.
The GhostConvey Product Management team recently attended a workshop at the SARS Head Office in Pretoria to discuss the implementation of the new Transfer Duty and VAT 249 declarations.
Poorer areas in Cape Town are experiencing a boom in illegal house sales.
In his 2005 budget speech on 23 February, the Minister of Finance, Trevor Manuel, raised the transfer duty exemption threshold, thereby slightly lowering transfer duty.
SARS has allegedly refused to grant transfer duty receipts to property buyers whose tax affairs were not in order.
Housing Minister Lindiwe Sisulu and the Banking Association of SA are expected to sign an agreement today to spread the home loans net.
Land and Agriculture Minister Thoko Didiza told Business Times that she does not plan to limit non-citizens' property rights.
Recent press reports about the proposed change of name from Pretoria to Tshwane have caused confusion.
According to De Rebus, a black conveyancers association is to be launched in Cape Town.
Watchdogs have begun to bare their teeth against lawyers who "buy" lucrative conveyancing work.
A clampdown by the Law Society of SA on conveyancers paying commissions to estate agents is unlikely to succeed. The practice is simply too widespread, say agents.
A short overview of the current SARS e-Filing situation in an attempt to provide some clarity.
More than 160 000 black economically mobile buyers are now able to afford a median priced house of R435 000.
Cape Town attorneys are testifying in the trial of a politician accused of violating Zimbabwe's exchange controls.
The South African property industry intends to achieve a 25% BEE target within five years.
The Black Conveyancers Association (BCA) which was launched in May has an 'onerous mandate' to achieve a number of objectives.
Property owners must take on municipalities that bill them for land tax without complying with the provisions of the new Municipal Property Rates Act.
The Institute of Estate Agents of SA has lashed out at the "inconsistent treatment" it has received from the competition authorities compared with the SA Property Owners' Association (Sapoa).
The Pretoria Deeds Office is set to close for three weeks during December while it moves offices, causing delays.
According to Absa, the South African residential property market is not experiencing general bubble conditions yet.
Mr Kessy Pillay, the Registrar of Deeds in Cape Town, puts a number of impressions about the deeds office into the correct perspective.
The Nelson Mandela Bay municipality's competency to collect regional services levies is being challenged.
High court rejects call by two owners to prevent family from building three-storey house overlooking gorge.
Several members of the EAAB have admitted to being involved in financial irregularities and are in the process of repaying money to the board.
A pensioner has lost R50,000 after paying it to a bogus conveyancing attorney.
The property market has become the goose that lays the golden egg for the government.
A businessman has sought an order preventing a neighbour from building a house in Plettenberg Bay because it obstructs the view from his family's holiday home.
The conveyancing examination syllabus for 2004 was revised by the Law Society in October last year.
Two letters which concern conveyancing issues appear in this month's De Rebus.
Defaulting homeowners have won a major victory against banks that sell homeowners' properties at a profit and then fail to credit their accounts.
The housing department has established an office of disclosure to which banks will have to provide information about their home loan and mortgage lending.
In a court approved-settlement, renovations to an Edwardian townhouse in Three Anchor Bay in Cape Town have been stopped.
Questions about race and nationality will again appear on title deeds.
Allen West will be presenting a course on preparing for the conveyancing exam at the Tshwane University of Technology(TUT).
Estate agents and rent collection organisations have described as "ridiculous" a Mandela metro municipal by-law which they say will discourage investors in the property market.
The Property Rates Bill passed its first hurdle yesterday when it was approved by Parliament's provincial and local government committee.
SARS has issued a directive confirming that no stamp duty will be levied on mortgage bonds registered on or after 1 March 2004.
Sanlam and ABSA have together formed a new home loans company - Sanlam Home Loans.
The passage of the controversial Property Rates Bill will not be delayed. And Sydney Mufamadi defends it.
The Law Society of South Africa through its Legal Education and Development (L.E.A.D) programme is offering correspondence courses in conveyancing and notarial practice.
The SCA has ordered KwaZulu-Natal's housing MEC to pay R14m in outstanding rates and taxes.
The Municipal Property Rates Bill is to be enacted soon to allow municipalities to implement the system in time for their financial year, starting July 1.
The legal profession hopes to have its own transformation charter in place by the end of the year according to BusinessDay.
The Competition Commission has prohibited a proposed merger between Absa, FirstRand Bank, Nedbank, Standard Bank and Comcorp Online (Pty) Ltd.
The GhostDigest has been publishing conveyancing and property news for just over a year and it is read by thousands of people.
A KwaZulu-Natal couple is prepared to go to court to stop developers constructing a six-storey building in front of Shelly Beach lodge on the South Coast.
GhostWare clients can now disburse software costs to their end clients.
The constitutionality of sections of the Magistrates Court Act dealing with the sale in execution of property to settle relatively small debts was debated in the Constitutional Court on 11 May.
A report by Barnard Jacobs Mellet banks analyst David Kinsey shows Standard Bank rapidly gaining market share in the retail mortgage market.
The Cape High Court has ruled that Cape Town's rates are unconstitutional - but that ratepayers have to go on paying them anyway, according to a report on the News24 site.
The Appeal Court recently ruled (28 May) that the owner of Oudekraal, next to Camps Bay, may not turn the ecologically sensitive land into a residential township.
L.E.A.D (Legal Education And Development) is holding a series of seminars on Fica requirements.
e-TV's exposé of bogus estate agents has brought a serious message home to consumers about the need to check agents' credentials.
The Post Office plans to sell your personal details to private companies for millions.
A group of 16 lawyers from the Cape Law Society is contesting the decision by the Law Society of South Africa to nullify the recent conveyancing exam results.
Buchanan Boyes Smith Tabata has launched their associated training academy, Igqwetha Training Academy [ITA].
The dispute between lawyers and the Law Society of South Africa (LSSA) over the cancelled conveyancing exam has spread countrywide.
Errant Pietermaritzburg home owners could find themselves homeless since the municipality has obtained a high court order permitting it to sell 7 000 properties without consulting the owners.
Despite the meteoric rise in house prices, the market appears to have lost some momentum since the beginning of 2004.
Home loan applications have risen by 40 percent in the first six months of this year.
A hard-hitting letter to De Rebus from Graham Paddock.
A showdown is looming after the announcement of plans to abolish electrical compliance certificates.
An innovative solution for the growing problem of repossessions by banks has been proposed by Minister of Housing Lindiwe Sisulu.
Municipalities throughout the country face a property nightmare - they have to trace hundreds of thousands of people who own flats and bill them individually for rates.
The Estate Agency Affairs Board is negotiating with the Competition Commission and the Department of Trade and Industry to re-introduce compulsory board examinations.
ABSA Bank has approached the Cape High Court to have the estate of Athlone attorney Mohamed Rafiq Koorowlay sequestrated after he allegedly misappropriated R5 million in trust funds.
Property developers must adhere to the correct procedures in applying for provincial approval.
Infuriated property sellers now face paying five months in advance for rates and for estimated water and electricity use before local authorities can issue a clearance certificate.
A century-old title deed restriction on the public open space on the Sea Point beachfront could ultimately save the land from all future development.
Boom gates and road closures blocking public roads infringe people's constitutional rights.
A multi-million cluster complex in the upmarket northern suburb of Weltevreden Park lies in ruins.
According to a report released on Tuesday by Standard Bank, the residential property market is still buoyant.
Landlords are responsible if municipal services provided to their tenants are not paid for, the Constitutional Court ruled on Wednesday.
Absa's reformulation of its definition of "middle market" homes and its lifting of the upper price parameter for properties in this category to R2,2-million have caused excitement.
The Constitutional Court has ruled that courts shall in future determine whether the sale in execution of houses to settle debt is justifiable.
The Institute of Estate Agents of South Africa (IEASA) is to be prosecuted for contravening the Competition Act.
A Stellenbosch businessman made the startling claim that he owns the land on which the coastal road between Durban and KwaDukuza is built.
Attorneys and property regulators plan to crack down on lucrative deals in which conveyancers "buy" conveyancing work from estate agents.
Igqwetha Training Academy ("ITA"), held a graduation ceremony for its first group of 12 students on 18 November.
A Newlands man has started a website to name and shame greedy developers and architects responsible for offensive structures.
The KwaZulu-Natal Law Society (KZNLS) recently adopted a motion calling for attorneys to sign affidavits stating that they do not "buy work".
The Western Cape, eager to generate development funds, is to investigate the viability of introducing hospitality and commercial property development levies.
The Ghost suite of packages has grown! GhostConvey, the popular conveyancing package, now has an added mortgage origination feature - GhostMortgage.
Homenet, South Africa's biggest estate agent group has entered into a mortgage origination agreement with Bond Choice, a mortgage originator.
In his 2003 budget speech on 26 February, the Minister of Finance, Trevor Manuel, lowered the transfer duty on fixed property sales to natural persons. These new rates came into effect on 1 March 2003. Companies, Close Corporations and Trusts etc have not benefited and will still attract transfer duty at the rate of 10% of the price.
It is illegal to try to change property sale dates to take advantage of the reduction in transfer duty.
Korbitec introduced GhostMortgage to their 'Ghost' suite of products for conveyancers in February 2003. The new software is built into their industry-leading GhostConvey software, and the new module is supplied free to clients.
Link to a letter entitled The enemy within in the April 2003 De Rebus from Daan Steenkamp. He suggests that perhaps it is time to accept that the historical reasons for the provision of fee sharing are in retreat and that the removal or relaxation thereof could well rejuvenate legal practices.
According to the report Banks lose out to cities in the Financial Mail (18 April), a surprise court judgment has deprived banks of mortgage security over their properties.
The period for Public comment on the draft Local Government Property Rates Bill has ended. The draft bill - GN 850 GG24589/18-3-2003 - is worth considering since on enactment it will empower each municipality to formulate its own rates policy, thereby boosting municipal revenues and establishing a uniform rating method in South Africa.
The proposed Property Rates Bill will reduce agricultural land values and ultimately threaten food security in SA and the region, according to the Business Day of 16 May.
The provision in the Property Rates Bill that bases municipal rates across the country on the improved value of properties amounts to a partial expropriation of a portion of the value of a property's improvements, according to the Business Day of 15 May.
The Deeds Registries Amendment Act 9 of 2003 has been published and came into operation on 30 April.
Homeowners, estate agents and the agricultural and communal land sectors have raised fears about the Property Rates Bill. These fears may be unfounded, according to Yunus Carrim, chairman of Parliament's Provincial and Local Government Committee.
According to a report on News24, the right of ordinary citizens to have access to information about their home loans will soon be tested in court.
First National Bank HomeLoans (FSR) has been rated the top provider of home loans in the recently released PriceWaterhouseCoopers Annual Survey of South African Banks for 2003.
The Minister of Trade and Industry, Alec Erwin, has announced the appointment of the new Estate Agent Affairs Board, the composition of which is intended to reflect the concerns and interests of all South Africans.
South Africa's largest attorneys association, the Johannesburg Attorneys Association has revamped its website. The site provides users with inter alia news, notice of upcoming events and information about RAF matters.
The consent order negotiated by the Competition Commission with the Pretoria Association of Attorneys in respect of its issuing of recommended fees has been confirmed by the Competition Tribunal, reports News24.
A group of concerned taxpayers is taking the SA Revenue Service (SARS) to court over its attempt to collect transfer duty from trusts that own property to which beneficiaries have rights, according to a report in Personal Finance.
The raft of new anti money-laundering legislation has put a heavy financial burden on "accountable institutions", writes Stuart Theobald in Cost of Compliance, in the 15 August issue of the Financial Mail.
The Cape Law Society Committee has formulated a general guideline for attorneys when contracting with mortgage originators. In principle there can be no objection to such contracts.
The Law Society of South Africa (LSSA) has initiated a consultation process with the Competition Commission on issues affecting the attorney's profession, reports De Rebus.
The Property Law Standing Committee of the Law Societies of South Africa met on Thursday 4 September and amongst other things discussed the Financial Intelligence Centre Act.
An open letter written on behalf of the Property Law Sub Committee of the Johannesburg Attorneys Association to the City Manager about the problems being faced by conveyancers in Johannesburg.
In terms of Government Notice GNR 1224/GG 25370/29-08-2003 of the 29 August, Regulations 18, 68 and 73 of the Deeds Registries Act 47 of 1937 are to be amended and two new forms inserted.
A full bench of the Supreme Court of Appeal has found that a house's view forms an integral part of its value.
The South African Revenue Service is going to take legal action against individuals who registered residential property in trusts, close corporations and companies to avoid paying transfer duty.
The South Eastern Cape division of the High Court has declared section 118(1) of the Municipal Systems Act 32 of 2000 unconstitutional.
The vibrant property market and the growth of the mortgage origination industry have persuaded Jack Trevena, General manager of Nedbank Homeloans, to start his own mortgage origination company.
Relevant dates and details have just been published in the latest - November - edition of De Rebus in the News section.
The article Building owners off the hook on Finance24, 20 October, reports on the response of the law society of the northern provinces and the Law Society of South Africa to the Mkontwana decision.
Trevor Manuel, the Minister of Finance has tabled the Revenue Laws Amendment Bill.
The latest figures published by ABSA last month suggest that despite a levelling off, the residential property market is expected to perform relatively well for the next twelve months.
The City of Cape Town's inability to keep up with rates clearances has become such a problem for the property industry that the Cape Law Society has stepped in to demand a speedy resolution.
Developers are apparently getting ready to fight back after the judgement of Gregory J Paola v Jaivadan Jeeva NO & Others which protects an owner's view.