Paying capital gains tax on instalment sale
This week our Property Poser expert deals with a question from a reader regarding the timing of the payment of Capital Gains Tax when it comes to the sale of an immovable property. The reader’s case is a little unusual as he explains that the sale in question is an instalment sale over a period of 48 months, which obviously spans more than one tax year. To begin, it is useful to consider briefly the mechanics of a sale of an immovable … [Read More...]
Commercial tenant in arrears fears lock-out
This week's Property Poser question comes from a reader who is leasing a commercial property. Her business appears to have hit upon hard times financially and her rental is one month in arrears. She wants to know whether her landlord can lock her out of the property without a court order. According to Susan Chapman from Rawson Properties Port Elizabeth Platinum, the lease entered into between the tenant and landlord should be examined … [Read More...]
Brotherly love lost over late payments
This week our Property Poser expert deals with a case of sibling rivalry between two brothers who co-own a property, in which the one lives. The reader, who resides elsewhere, appears to be having communication issues with his brother. He has discovered that his sibling has made arrangements regarding outstanding instalments and payments at the bank and municipality without his knowledge. The reader does not, however, mention whether … [Read More...]
Habitation rights and property ownership
A reader who is married out of community of property, excluding the accrual system, has approached the Property Poser experts regarding her rights on a jointly owned sectional title unit. She explains that she and her husband both have children from previous marriages. In terms of their wills, the surviving spouse will receive usufruct on the deceased’s half-share of the property, while the deceased’s children will receive bare dominium … [Read More...]
Dilapidated building causes neighbour concern
The Property Poser panel has received a query from a concerned reader about a dilapidated building in the vicinity of the block of maisonettes in which she lives. The reader explains that this run-down building looks similar to the one in which she lives but whereas hers is a sectional title complex, the neighbouring one seems to belong to a single owner who rents out the units. The problem is that the building in question is in a shocking … [Read More...]
