Get paid on time: Five tips for business owners
Small businesses can master the skill of getting paid on time – here’s how. For small and medium businesses, getting paid on time is one of the biggest administration headaches. After all, when customers don’t pay on time, cash flow takes a knock and you need to borrow money to pay suppliers and service providers. […]
Renting vs buying: The pros and cons
In a lowering interest environment, tenants are reconsidering their priorities. Driven by reduced interest rates and more lenient loan criteria, tenants are starting to have their sights firmly set on owning a home. While many – particularly the ‘millennial generation’ – chose to travel and live more ‘freely’ in the past, priorities have since changed. […]
How to register your business in South Africa: A step-by-step guide
Registering a business in South Africa is essential to ensure your company operates legally and complies with local regulations. The process can be straightforward if you follow the proper steps. Here’s a guide to help you through the registration process. Step 1: Choose your business structure The first decision you’ll need to make is the […]
How the new Expropriation Act Shapes Land Acquisition in South Africa
President Cyril Ramaphosa recently signed the Expropriation Act into law, replacing a 50-year-old statute and providing a clearer framework for expropriating property in South Africa. This Act, which aligns with Section 25 of the Constitution, outlines how the government can acquire land for public purposes, with an emphasis on fair compensation for property owners.While the […]
Rouwkoop Clauses: What Is It and Is It Enforceable?
The rouwkoop clause, frequently featured in agreements between sellers and purchasers, grants the seller the right to retain a portion or a specified amount of the payment if the agreement is cancelled. The general principle, which normally applies when an agreement between two parties is cancelled, whether unilaterally or by agreement, is that of restitution […]
Claiming Ownership Through Acquisitive Prescription
One way to acquire property in South Africa is through acquisitive prescription. This method does not rely on the transfer of rights from a predecessor in title; instead, it acknowledges specific factual criteria that, when met, grant legal rights and title to ownership. This article will outline the requirements necessary for successfully claiming ownership through […]
Property Ownership Transfer and the Abstract Theory
South African courts have adopted the abstract theory, which means that the validity of transferring ownership is not affected by whether the original transaction is valid. In the case of Legator McKenna Inc. v Shea [2009] 2 All SA 45 (SCA), McKenna, an attorney, was appointed as the curator of Mrs Shea’s estate because she […]
Planning to Renovate Your Home?
Your insurer or broker should be the first to know. Many South African homeowners are investing in renovating their homes to increase its value. However, whether you’re planning to revamp your kitchen, bathroom or do some landscaping, anything that affects the replacement cost of your home can affect the amount of short-term insurance cover—and, in […]