Maryna holds the BA, LLB, LLM degrees and is a Director at the Cape Town branch of STBB. She is an admitted Attorney, Notary Public, Conveyancer and Insolvency Practitioner with many years of experience in the fields of property law, conveyancing and the laws relating to corporate compliance (especially in respect of the FICA and POPIA laws). Up until 2018 she was also head of the firm’s national marketing portfolio. She is a seasoned public speaker and presenter, both in person and online. She prepares text for the majority of STBB’s internal and external publications and is editor and co-writer for two pivotal publications in the South African real estate industry – the ABC of Conveyancing (JUTA) and Delport’s South African Property Law and Practice (JUTA).

Thought of the Week | Building Penalties: Don’t Wake Up Late

Typically when buying a stand in a proposed development, the agreement provides that the landowner shall erect a house within a stipulated period, failing which the homeowners’ association (HOA) may impose a penalty. This ensures that the development reaches its investment value within anticipated time frames and safeguards other owners from the implications of continuous building operations. The period generally ranges from one to five years.

Our courts have confirmed that an HOA, in its governing documents and rules, may validly impose such penalties provided they are not unreasonable. These nonetheless often dilute whatever profit the owner anticipated to make on a later sale.

Therefore, when buying land in such a development, be sure to negotiate all of the HOA requirements regarding building time frames. It is in your best interests to obtain the assistance of your conveyancer before committing yourself in writing.

Contact STBB I Smith Tabata Buchanan Boyes on STBB.

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