This article broadly looks at property time-share and the legislation regulating it. The problems and complaints by consumers trapped in the empty and misleading promises advertised to them by the time-share industry are also addressed. In part one, the article gives a broad outline of what the Property Time-Sharing Control Act entails and specific definitions that describe the various elements of the industry. Part two will look at the National Consumer Commission Report of 2018 and its recommendations as well as the legal consequences of contracting into a time-share agreement and the recour ..read more

Historically, interest rate hikes have had a dampening effect on the South African residential property market, with homeowners reassessing their affordability in anticipation of higher monthly loan repayments. The resultant reduction in home loan applications immediately following an interest rate hike is a reaction from buyers who are hesitant to make a long-term commitment until rates stabilise and they can plan accordingly. However, increased buyer education—and understanding the purpose of why interest rate hikes are implemented—can be a helpful tool in alleviating the affordability conce ..read more

There are five compliance certificates that the Seller is required to obtain at his/her own cost before the transfer of the property takes place. The following are the necessary certificates: Electrical Compliance Certificate The Electrical Installation Regulations under Section 43 of the Occupational Health and Safety Act, sets out the requirements for obtaining a valid electrical compliance certificate. Regulation 7 (1) states that “every user or lessor of an electrical installation, as the case may be, shall have a valid certificate of compliance for that installation”. Regulation 9(1) st ..read more

Dividend investing can be a solid strategy, so it’s worth knowing how dividends work What is a dividend? A dividend is a payment made by a company to its shareholders.  Dividends are usually paid at a specific frequency—quarterly, semi-annually, or yearly.  The size and payment of a dividend is determined by a company’s board of directors. Dividends may be paid in cash, or in the form of company shares.  Investors may also be offered a choice of cash or shares.  Companies are not obligated to pay a dividend and can reduce the dividend or stop paying it at any time. A common ..read more

Why retrenchment cover is a non-negotiable need for those currently employed. Being retrenched is one of the most traumatic transitions a person can go through in their career, and as the world grapples with the aftermath of the pandemic and strained economies, retrenchments are unfortunately still a reality for many people. The shock of being retrenched, coupled with the financial stress, may leave a person uncertain about how to proceed. Sadly, consumers who do not have retrenchment cover are exposed to greater financial risk when they’re cut back. Typically, retrenchment insurance pays up t ..read more

What happens to the VAT that was paid over to SARS? Vendors often provide goods or services to clients on credit. In the current economic climate, clients are more likely to acquire goods or services on credit and may thereafter be unable to settle these debts. Other factors, for example disputes, may also result in vendors being unable or unwilling to make payment of debts. This results in the vendor having to write off this debt as ‘bad’ or irrecoverable. In this article we take a closer look at the VAT implications of bad debts. Legislative provisions The Value-Added Tax (VAT) Act 89 of 199 ..read more

The purpose of a precautionary suspension of an Employee is mainly to mitigate further risk to an Employer in instances where disciplinary action is contemplated. The circumstances warranting such a suspension differ from case to case.  Reasons for a suspension can include that the Employee may jeopardise an investigation; endanger the wellbeing or safety of a person; interfere with potential witnesses; his presence or actions may bring the Employer’s name into disrepute; the potential of committing further acts of misconduct or causing instability in the workplace. Section 186(2)(2) of t ..read more

Fraud can be defined as the unlawful and intentional making of a representation that causes actual or potential prejudice to another. Parties often act on the strength of another’s representation in order to commit some or other act. Such an innocent party may have acted to their detriment if the representation was fraudulent. The innocent party has, broadly speaking, two remedies available to them. The innocent party could cancel an agreement if the representation led to them entering into a contract. The innocent party will then have to tender restitution. The innocent party can also claim d ..read more

The practice which has evolved is that divorcing parties agree to the appointment of a parenting coordinator who is tasked with mediating parenting disputes between the parties and if the mediation has not been successful, the parenting coordinator is empowered to make directives which are binding until set aside by the court. The TC v SC 2018 case imposed limitations on the authority of the parenting coordinators pertaining to their decision-making. INTRODUCTION Scenario: Assuming the divorcing parties enter into a parenting plan in respect of their children which contains the following claus ..read more

Many of us are still recovering from the harsh effects of the Covid-19 pandemic. Some of us are faced with the issue of not being able to meet our financial obligations. One such obligation could be a maintenance order. South African law, imposes harsh sanctions on maintenance debtors who fail to adhere to their maintenance obligations. Therefore, If you ever find yourself in a position where you are no longer able to meet your maintenance obligations, it is imperative to use the avenues available to you in terms of the law. It so often occurs that the financial circumstances of the party resp ..read more