Property News - January 2013
Welcome to our Property Investment Newsletter, the aim of which is to keep you up to date and informed as to the most recent property trends and news.
Let us hope that 2013 is an excellent and exciting year for you. Please bear in mind that PPI is well positioned to service everyone from the first time home buyer to the seasoned property investor. We cover both sales and letting of residential, commercial and industrial property and are here to assist you with all your property requirements!
A client who paid transfer duty in terms of a Share Block conversion transfer, is now entitled to a refund from the Receiver.
For a long time it was regarded that the Seller was protected by the provisions of the voetstoets clause, and if the Seller was not aware of the lack of plans and the Purchaser did not request copies, the Purchaser was obliged to take transfer of the property as is.
Prior to the inception of the Sectional Titles Act in 1971, which has since been replaced by the Sectional Titles Act 95 of 1986, developers went the Share Block route.
Rents in prime central London fell in December, dropping by 0.5% as the ongoing troubles in the Eurozone and associated uncertainty in the finance sector combined to keep activity muted.
The root cause of most serious disputes in schemes is money. At the AGM, members have the opportunity to discuss, and have explained to them if necessary, how their money was spent. The logical as well as stipulated second part of the financial discussion is the approval of the budget for the coming year.