SPLIT ZONING AND CLERICAL ERRORS: A SUMMARY OF CAPE ESTATE PROPERTIES (PTY) LTD V GEORGE LOCAL MUNICIPALITY
In May 2023, a full bench of the Western Cape High Court found in favour of a developer, Cape Estate Properties (‘the Appellant’), in its appeal against a decision of the George Local Municipality concerning the determination of the zoning of its sawmill operation on the eastern border of the city. In the context of land use planning, the judgment holds particular significance for developers.
EXPLAINER: A SELLER’S GUIDE TO BOND CANCELLATION
Are you in the process of cancelling the bond over your property? Whether you’re intending to sell or are finalising the details of your sale agreement, there are various legal requirements and costs associated with formalising bond cancellation. At STBB, we endeavour to simplify these processes and keep you informed through every step of your property transaction.
THE ‘SCHOOL RUN’ PROPERTY BOOM: PARENTS SEEK PROXIMITY TO TOP WESTERN CAPE SCHOOLS
Prevailing trends indicate that parents in South Africa are increasingly willing to relocate suburbs – and cities – to enable their children to attend the country’s best private schools. Given high demand and competition for places, school admission policies typically favour applicants who reside in surrounding suburbs. Predictably, this has significant implications for residential property markets. Specifically, a shortage of properties in close proximity to top schools drives ongoing price increases and raises rental. In the Western Cape, the trend is particularly apparent in the Boland region, with a growing demand for properties in Paarl and Stellenbosch, and in the coastal towns of Hermanus and Onrus.
Considering a move? With seven offices located across the Western Cape, STBB is well-placed to handle your property transaction.
HIGH COURT REVERSES PROPERTY SALE AND ORDERS THE DEEDS OFFICE TO REVIVE DURBAN WOMAN’S TITLE DEED
Recently, the Durban High Court in Naidoo v Changing Tides 17 (Pty) Ltd set aside a sale in execution and declared the subsequent transfer of immovable property to a third party invalid after determining that there was no legal basis for attaching the property.
RELIEF FOR HOMEOWNERS IN SIGHT AS MAJOR BANKS FORECAST INTEREST RATE CUT
According to major banks and economic analysts, the Monetary Policy Committee of the South African Reserve Bank is widely expected to lower the repo rate when it convenes tomorrow afternoon. At 8.25%, the repo rate is at a 15-year high and has remain unchanged for seven consecutive meetings. With inflation having subsided to 4.6% in July, numerous banks predict a 0.25% decrease followed by additional cuts into 2025. Given that the prime lending rate is currently 11.75%, this should provide some relief to homeowners grappling with bond repayments. Further, the prospect of continued cuts might encourage potential purchasers to invest in property.
UPCOMING WEBINAR: THE INS AND OUTS OF INSOLVENCY LAW
In this month’s insightful webinar, Stefan Hougaard explores the intricacies of insolvency and explains why winding-up an estate is a valuable tool for settling debt and resolving deadlocked disputes.
LEGALLY SPEAKING: CO-OWNERSHIP AND ESTATE PLANNING
Property ownership necessitates estate planning. In our latest podcast episode, Refqah Ho-Yee discusses the implications of the co-ownership of immovable property for estate and succession planning.
