Wednesday, 19 September 2007

Top 4 Legal Pointers when Buying Property

Before you buy, ask a conveyancer to check zoning regulations and title deed conditions so you know what your new neighbours are allowed to do. If you lose your view or find a business loading zone right next door, you have only yourself to blame.

If you are a first time buyer and wondering whether to buy in your own name or set up a cc, company or trust, remember that under the SARS regulations for capital gains tax, you now face 50 per cent tax liability on the nett capital gain when selling a property registered in a trust, cc or company, as opposed to 25 per cent as an individual.

If you buy into a sectional title and want to extend your unit, you will need the approval of the members of the body corporate before you go ahead.

If your neighbour at the end of the street paints his double-storey facade a lurid pink, there is nothing you can do. Grin and bear it!

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