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FURTHER MORE TO THIS ARTICLE NCR HAVE LAID DOWN SOME RULES AS TO RUDCO'S BUSINESS PRACTICES SEE http://www.ncr.org.za/press_release/Rudco.pdf
Staying ahead of your finance, forex and real estate in South Africa.
Let the DEBT DOCTOR help you!!
Cut your credit card facility by 50% immediately, then by another 50% and then when paid off chuck your credit card away. This is a killer
Pay your accounts early - this will look after your interest payments and your credit rating on the whole.
Do not pay debt with debt - unless you really know what you are doing.
Save cash to buy those funny things - retail accounts are great, until you have to pay them.
ALWAYS ask for discounts - from attorneys, doctors, clothes shops, Spar, Checkers EVERYWHERE
Draw cash from your own banks ATM and don't do it often!!!!!
Plant your own veggies!!! - Its mentally good for you and is cheaper to manage and healthier..and just great fun - A windowsill can produce a lot of fresh goodies!
Check out your credit record - regularly If your on, Get off!!!
Speak to your bank always. Standard, Absa, Nedbank, FNB all of them - they are very human folks. They can help you save.
Listen to Suze Orman - One very switched on person - and gorgeous!!!
Read Helena Wasserman articles....Excellent stuff
TAKE CHARGE TODAY..its where it all starts
For a DEBT FREE SOUTH AFRICA!
WizardMan Out!
This topic looks at the concept of a 'development scheme'. It covers the underlying definitions, the approval
procedure, building compliance and residential tenant protection.
A sectional titles scheme comes into being when conventional land and buildings are 'developed' under the Act as a 'scheme', or 'development scheme'. This happens when a developer decides to divide the land and the building(s) on the land into sections and common property by opening a sectional title register for the land and the building(s).
At this stage the entry in the land register for conventional land is endorsed to the effect that the land is included in a development scheme under the Act and no further entries are made in the land register.
Section 4 of the Act covers this aspect. A developer who wants to develop a sectional title scheme must make sure that the land on which he wants to develop the scheme is situated within the area of jurisdiction of a local authority and that the building which he has erected is of a permanent nature. He must then instruct an architect and a land surveyor to ascertain whether the land and the building comply with any operative town‐ planning requirements and whether the building has been erected in accordance with valid building plans.
In case of non‐ compliance the developer would have to apply to the local authority
concerned (municipality) for condonation of the defect. This means that he must ask the municipality concerned to excuse or disregard the defect. Should he want to convert an existing rental building to sectional titles, the tenants in the building must be given certain information and a right to purchase their sections before he can proceed. He must then instruct the architect and land surveyor to prepare a draft sectional plan showing the division of the land and buildings into sections, common property and exclusive use areas and to submit the plan for approval by the Surveyor‐ General of the region where the property is situated.
Once the sectional plan is approved it can be submitted to the deeds office for registration.
Section 4 of the Act provides that:
Sections 4 and 10 of the Act make extensive provision for the protection of residential housing consumers (tenants) during the process of the development of existing leased buildings (rental apartment buildings) as sectional title development schemes.
References:
Sectional Title Property Searches - Deedsearch - http://www.deedsearch.co.za
UCT - University of Cape Town - http://www.uct.ac.za
Acts - Acts Online - http://www.acts.co.za
Here concludes Part 1 of South Africa Online Property Course.