When it comes to letting, it's amazing how many property investors unknowingly take on obligations without ever knowing that they have done so. It happens in away that is so accidental, so transparent that in many cases tenants come and tenants go without either party ever knowing that this was the case.
How does this happen? In our law we have a provision that states that ‘Lease goes before sale’, better known as “Huur gaat voor koop”. Which means that when a leased premises is sold before the lease of a current tenant has expired, the tenant may in terms of the huur gaat voor koop rule remain in occupation of the premises until the lease expires.
The outcomes of the Parker and the Badenhorst trust cases were quite a surprise for trust owners and trustees. The judgements in these cases have been the source of much discussion in the property investor community, as the findings serve to teach some valuable lessons and bring home some important reminders for everyone. Many trust owners have too much control over their trust or trusts. At first many may be thinking, "Well, isn't that a good thing?" If you have complete control of your trusts, then the answer is probably, no.
Everyone knows that Estate Agents make their living from commission earned out of selling or letting immovable property. Yet, very few people understand the finer details surrounding commission. This lack of understanding often leads to disputes over commission between Estate Agency clients and between Estate Agents themselves. In this article we discuss the background to why an Estate Agent is due commission on sale, what an Estate Agent has to do in order to earn the commission and when an Estate Agent is not due commission.
