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Fourie Stott set off

Set-off

What does set-off mean? Set-off allows for the termination of mutual obligations between parties without an exchange of performance. This is a well-established principle of South African common law dating back to Roman Law. However, the National Credit Act, 2005 and recent case law have changed the legal landscape. An example of this principle is, .. read more

Fourie Stott can your ex inherit

Can your ex inherit?

Can your ex inherit in terms of your will? If you had your will drawn up while you were married, in all likelihood you made your spouse a beneficiary of your estate. If you subsequently divorced your spouse, your ex will still be a beneficiary unless: Your will makes provision for your wishes in the .. read more

Fourie Stott Shareholders Resolution

Shareholders’ Resolution

When do Directors need to get a Shareholders’ Resolution? Under the Companies Act 71 of 2008 (“the Act”) directors have substantial powers regarding the management and control of a company on a day-to-day basis. This is useful to allow the directors to get on with the business of the company without having to constantly refer .. read more

Fourie Stott Backup Offers

Backup Offers

What are Backup Offers? A backup offer occurs when a seller concludes a sale agreement with a buyer (primary offer) which is subject to one or more suspensive conditions, and then the same seller signs a later sale agreement with a second buyer (the backup offer). Dealing properly with backup offers is important for all .. read more

Fourie Stott Huur gaat voor koop

Huur gaat voor koop

Huur gaat voor koop – what does this mean? Roughly translated, huur gaat voor koop means: an existing lease trumps a subsequent sale. What are the legal consequences of this principle? (a) When a property which is subject to a lease is transferred, the purchaser steps into the shoes of the seller as the landlord .. read more

Fourie Stott Termination of a Trust

Termination of a Trust

When to consider termination of a trust If you have a family trust that is inactive or not being utilised it may be prudent to have it terminated in order to save costs and avoid potential issues in the future. Some factors when deciding whether to consider termination of a trust are the following: Trust .. read more

Fourie Stott Property Sale Agreement

Property Sale Agreement

Is the deposit clause in your Property Sale Agreement up to date? When a purchaser is obliged to pay a deposit to conveyancers pursuant to a sale of property agreement, the sale agreement should provide for the deposit to be invested on behalf of the purchaser pending registration of transfer. The conveyancers can only invest .. read more

Fourie Stott Property Specialists

Property Specialists

Our Property Specialists Our conveyancing team collectively has more than 40 years’ experience in providing conveyancing services and property-related legal advice. As property specialists, we assist clients with residential and commercial transfers, developments, sectional title issues, bonds and general conveyancing work such as consolidations and sub-divisions of land. We also assist with the drafting and/or .. read more

Fourie-Stott-Occupational-Rent

Occupational Rent

Occupational Rent Once a sale agreement has been signed, the transfer process begins and typically takes 8 to 12 weeks. Ownership of the property concerned will pass to the purchaser on registration of transfer in the Deeds Registry (“Date of Transfer”). In most transfers of immovable property, occupation (the right to occupy the property) passes .. read more

Fourie Stott Emigration Considerations

Emigration

Emigration Considerations Packing up your entire life, leaving your familiar surroundings and moving to a foreign country is an emotional and stressful life event. If you want to be proactive and avoid some unnecessary costs and nuisances while you are settling into your new home country, we suggest the following emigration considerations: Immovable Property If .. read more