SECTIONAL TITLES

SECTIONAL TITLES TERMINOLOGY

The property world can be a maze of terms, forms and contracts that leave one feeling unsettled and a little unsure of what they may have just agreed to…  Our lawyers (MF Attorneys) compiled this comprehensive list of terms and concepts that apply to buyers, and sellers, within a housing complex or gated development where a large property is developed and sold-off in sections.  These are known as sectional titles.

 

Here are some FAQs that the Rivigan team hopes will help you!

1. What is sectional title unit? 

A title system in which sections of buildings are created for separate ownership.  A sectional plan is registered and available at the Surveyor-General's Office for each sectional title development.  All the parts of the land and the buildings that are not labeled as sections (or parts of sections) on the sectional plan are either common property or exclusive-use areas.  The entire development (collection of units) is referred to as a sectional title scheme.

UPDATE ON THE CPA... AND MORE

"Keeping up with the trends so that you can make the smart choice."

From MF Legal:

In 2011 we dealt with many topics.  Two of these topics have since had further developments or have been clarified.

The first of these is the infamous voetstoots clause in the Consumer Protection Act 68 of 2008 (CPA) and the other is with regards to the transfer of immovable property from a company, close corporation or trust to an individual.  Here’s an update for our valued clients and agents on those issues that have since changed.