Tag Archivestransfer

Sale of Property: Compliance Certificates

When immovable property is in the process of being sold, there are certain compliance certificates that are necessary to obtain before the transfer can be registered. Some of these certificates are obligatory in terms of legislation, depending on the particulars of the property and type of transaction. Types of certificates:  Electrical certificate of compliance: Electrical […]

Read full story
offer to purchase

Can I cancel an offer to purchase – who is liable and for what?

In South Africa, the transfer of immovable property is governed and regulated by legislation in order to protect all parties to the transaction. In terms of Section 2 of the Alienation of Land Act No. 68 of 1981, no alienation of land shall be of any force or effect unless it is contained in a […]

Read full story
tax

Withholding tax when dealing with a non-resident seller

Generally speaking, capital gains tax is normally payable on the proceeds of sales of immovable property. However, the enforcement and payment of this have proven problematic, particularly when sales of immovable property concerns non-residents. From the South African Revenue Services’ (“SARS”) perspective; it has been always been extremely problematic to ensure proper and fair compliance […]

Read full story