By law he cannot sell this house without written permission of his wife,

All assets that one spouse acquired prior to the marriage, as well as the assets accumulated during marriage, will fall into the joint estate.

Another reason not to marry in COP if you want independence

https://twitter.com/omaralliebhai/status/1507713352268660740

Sections 15(2) and 15(3) of the Matrimonial Property Act 88 of 1984 confirm the legal position by providing that…a spouse married in community of property, shall not without the written consent of the other spouse

What Happens to the Property ownership when married in Community of Property and one spouse passes on

A #Thread

Firstly, Sorry for your loss.

https://twitter.com/BarbierAbra/status/1507301119369830406

1st things 1st,

In a marriage in community of property, both spouses own everything in equal shares. As the surviving spouse, she has a claim to 50% of the joint estate, and then the remaining 50% can be distributed to the nominated beneficiaries of the will.

A new Property Act has come into effect today 1 February 2022,

Tenants, Buyers and Sellers come and Camp this side

Property Practitioners Act No. 22 of 2019

A Thread First things First, what is this Property Practitioners and what does it mean for me as a home owner ,seller ,buyer or tenant?

The Property Practitioners Act No. 22 of 2019 is a new law that replaces the old Estate Agency Affairs Act No. 112 of 1976
Yes! 1976!

It Appears FNB has launched a Stokvel Property Buying Platform where up to 12 people can apply for a Homeloan on a single house

Would you be a part of something like this?

Here's the pros and cons

Mini Thread! Pros

-It will allow a group of people/friends/colleagues/family members to increase their joint affordability and buy that house, 6 siblings buying a house for uMakhulu? No problem

- a team of like minded people can do property investing easier, eg each person liable for R50k

Losing Your Home at a Sherrif Auction:(sub-topic: The Horrors of Building Your own home)

Life Lessons from a True Story.

If you have fallen behind on your Homeloan, know someone who has, or own Property financed through a Bank, this #Thread is for you.

#PropertyTipsWithNthato Background:

This is a rather sad story, that happened this year, so brace yourself,

The Thread will be two-fold,

Part 1: Life Lessons from a True Story: Losing Your Home at a Sherrif Auction

Part 2: How to prevent losing your house at a Sherrif Auction

Waterfall Estate 99 Year Lease explained, A #Thread

There are various forms of immovable property ownership types in South Africa,such as: Full Title, Sectional Title Ownership

Long Term Lease,which is what applies to waterfall Estate’s
A #Thread

https://twitter.com/lawseed/status/1349659718583783426

First things first,who owns it?

The 2200 hectare land is owned by the Mia family. There are many stories on how they got it,I will stick to the official story: In 1934 it was sold Ismail Mia and his 4 sons by the Gibson brothers for approx R330k through and insolvent estate

Buying Property Through a Joint Bond: Pros & Cons

A #Thread

----Retweet For Awareness----

#Propertytipswithnthato What is a joint bond?

This is a home loan taken from a financial institution by two or more people/entities towards the purchase of co-owned immovable property e.g a house. This information is then captured and reflected on the information that reflects at the deeds office.

First Time Property Buyers

Part 2: Ongoing Property Ownership Costs

----Retweet to share Awareness----

A #Thread Yesterday we covered property purchase costs. Now that you have fully prepared for the once-off costs of property ownership.

We will focus on the most important aspect: Ongoing costs of property ownership, for most people this cost will be for 20 years

#propertytipswithnthato

First Time Property Buyers: What to Expect and How to Best Prepare yourself

A #Thread

----Retweet For Awareness----

I will be writing a series of daily #Property #Threads during the #lockdownextension

#PropertyTipsWithNthato According to an Investec report, Over 60% of millennials are either renting or living with parents. They are the highest number of new entrants into the property market. First-time buyers contribute to around 50% of bonds granted annually.
#PropertyTipsWithNthato

Property Ownership Types in South Africa

A thread. There are various forms of immovable property ownership in South Africa, sometimes people do not fully understand the rights and responsibilities when buying a certain property type.

Let's go through the 3 main forms

Do you live in a Rented property ?

There's a new law in place to protect you. A thread.

Share to raise awareness

5 Key changes to the Rental Housing Amendment Act, which makes amendments to the Rental Housing Act of 1999: 1. Lease agreement in writing:

All lease agreements must now be in writing and legally enforceable. The agreement and all provisions, duties and obligations must be explained to the tenant and clearly understood. All amendments to the lease must also be in writing;

How to Pay off your House in 6 Years a thread! Please retweet to share awareness to our people. Let's beat the system.