NO MAINTENANCE, NO HOMELOAN

Maintenance defaulters are shortly going to find it much more difficult, if not impossible, to buy property, thanks to proposed amendments to the National Credit Act (NCA) regulations. Now with maintenance payments added to the list of debt obligations they must include in their calculations, and maintenance defaults to be included when it comes to…

SUSPENSIVE CONDITIONS… AND THE ‘HARSH’ CONSEQUENCES OF NON-FULFILLMENT THEREOF

A recent Supreme Court of Appeal judgment illustrates the importance of fulfilling suspensive conditions in an agreement and the consequences of not doing so. On 11 April 2007, an agreement relating to a property development was entered into between Pangbourne Properties Ltd (Pangbourne) and Africast (Pty) Ltd (Africast). This agreement was subject to a suspensive…

THE VOETSTOOTS CLAUSE AND THE EFFECT OF UNDISCLOSED DEFECTS

WHAT DOES VOETSTOOTS MEAN? Every sale agreement of a normal residential property (house and its usual outbuildings) will contain a voetstoots clause. The word voetstoots is the action of buying something ‘as is’, that is ‘just as it stands’ in whatever condition it is, warts and all. An example of the wording of a voetstoots…

ENERGY EFFICIENCY & USAGE LAWS: SANS 204 & SANS 10400-XA

impacts on all new buildings and renovations. Up to recently it has been a matter of choice, however now, having an energy efficient building is no longer just the preserve of those wanting to do the right thing. What used to be a voluntary standard is now written into law and has become applicable as of 11 Nov 2011. These…

WHAT IS AND WHAT IS NOT INVOLVED IN INSPECTIONS required before transfer

Information received from the Techno group: Electrical Certificate: The electrical certificate covers the permanent electrical installation which is everything from where the Eskom cables join to the property up to the points where the cables terminate at the appliances, be it a plug outlet, a light fitting or a more permanent connection to a fixed…