Property News - June 2024
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.
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Articles
Legal View - When to Lawyer Up
While many people may feel intimidated by the legal system, seeking legal advice can help to avoid costly mistakes and to ensure that your rights are protected. Here’s a brief guide on when and why you should seek legal help.
Legal Speak Made Easy - “Insolvency”, “Liquidation” or “Bankruptcy”?
Commonly confused, these terms are usually encountered in the context of debtors who are unable to pay their debts. An individual’s or trust’s estate is “sequestrated” and a “trustee” appointed to sell the insolvent estate’s assets and to distribute the proceeds according to legal principles.
Body Corporates - Can Sectional Owners aquire Excluse Use Rights by Prescription?
A recent query in the Paddocks Club raised an intriguing issue in a sectional title scheme: Can sectional owners acquire rights to Exclusive Use Areas (EUAs) on the common property by prescription? This question is particularly relevant in older complexes where EUAs were not formally registered but owners consider they have ‘de facto exclusive use’ of enclosed common property spaces.
Sectional Title - Can Trustees take resolution via WhatsApp
In the digital age, the use of electronic communication tools like WhatsApp has become the norm, even in formal settings. For trustees of sectional title schemes, this raises the question: Can trustee resolutions be validly taken via WhatsApp? The answer lies in understanding the legal framework provided by the Sectional Titles Schemes Management Act of 2011 (STSMA), its regulations, and the Electronic Communications and Transactions Act of 2002 (ECT Act).
Deceased Estates - In the Land of the Will, Clarity is King
When drawing up your will (“Last Will and Testament”), remember that “clarity is king”. Ambiguity is one of the cardinal sins of will-drawing because it exposes your loved ones to the risk of uncertainty, dispute, rancour, and quite possibly expensive litigation.
