THE CONSUMER PROTECTION ACT – HOW WILL THIS AFFECT HOME OWNERS ASSOCIATIONS AND DEVELOPERS?
Developers and Home Owners Associations fall within the definition of 'suppliers' in terms of the Act and will thus, as of October 2010, be subject to the provisions of the Consumer Protection Act in terms of which various 'Fundamental Consumer Rights' have been identified.
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NON-RESIDENTS - PURCHASING PROPERTY IN SOUTH AFRICA
It is anticipated that there will be renewed interest in the purchase of property in South Africa after the World Cup. There are virtually no restrictions on the purchase of property by foreigners, although they may not borrow more than 50 percent of the purchase price from a local bank.
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NEW APPOINTMENTS AT AMC HUNTER INC
We would like to take the opportunity to thank our many clients for their loyal support during 2009 and wish you all the very best for 2010.
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TAX RELIEF FOR RESIDENTIAL PROPERTY OWNERS
SARS has introduced tax relief for home owners who own their primary residence through a trust, CC or company.
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CONSUMER PROTECTION ACT - HOME OWNERS ASSOCIATIONS BEWARE!
In terms of the Consumer Protection Act which will become law in October this year, Home Owners Associations will also be regarded as ‘suppliers’ of services and thus home owners as their consumers, can exercise their consumer rights against such HOA.
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MISREPRESENTATION - EXCUSE TO CANCEL A CONTRACT?
Sale agreements of land, almost without exception, contain clauses such as the voetstoots clause, protecting the seller against any defects to the property and usually covering anything that might potentially diminish the value of a property.
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ESTATE AGENTS - potential liability for misrepresentations?
Estate agents represent the seller, and it will usually be the seller that will be sued and suffer the loss. The estate agent's loss would be limited to the loss of his or her commission.
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