Monday, August 06, 2012

Now Proudly FNB Panel Attorneys


Mc Naught and Company have just been appointed to the First National Bank panel of mortgage bond registration attorneys.

We are thrilled to now be able to offer our expertise, professionalism and service excellence to all FNB bond clients.

For more information contact our offices on 031 467 3810 (Bluff) or 031 903 7307 (Amanzimtoti) or mail info@maclaw.co.za

Saturday, August 04, 2012

Patriotic KZN Attorneys



As patriotic KZN Attorneys, Mc Naught and Company wish the Sharks well in their Super rugby final! Bring home the trophy boys!!

Thursday, July 19, 2012

Prime Rate Decrease!

Reserve Bank govener - Gill Marcus

Good news for home owners and prospective home buyers alike is that the South African Reserve Bank unexpectedly cut its repo rate by 50 basis points to 5.0 percent today.

This cut means that the prime lending rate will drop to 8.5% making owning property the most reasonable it has been in over 30 years!

Whether it be your first home purchase or the purchase of additional investment property, Mc Naught and Company will expertely deal with your transfer process!

Wednesday, July 11, 2012

Expiring Vouchers - not so fast!


My daughter gave me a back massage voucher at Christmas, but being the busy person I am the 6 month "expiry" date on the voucher soon passed and finding the voucher also proved difficult. However, all is not lost. In terms of the Consumer Protection Act a voucher may not expire before 3 years has passed from date of issue.. that means I got my massage after all! Sure, this could be difficult for businesses whose prices over the 3 years escalate. To overcome this, I would recommend to businesses issuing vouchers that they either put a value on the voucher and make the voucher valid for goods or services up to the stipulated value, or a clause needs to be added... something to this effect - "Should the voucher be used beyond 6 months from date of issue, the company reserves the right to require payment of the difference between the value of the service at time of issue and the date of use of the voucher." This should be fair to all concerned.

Monday, July 02, 2012

July Newsletter published

The Consumer Protection Act is still causing complications. Read about it in our July newsletter and download our guides off our Skydrive.. click on the link here.

Thursday, June 14, 2012

eThekwini Rates Clearance Shambles

eThekwini Municipality has moved from bad to worse with regards to rates clearance certificates. The latest response from council to our concerns being:

-----------------------------------------------------------------------------------------------
Dear Mark

Your Mail of the 13th has reference.

Firstly please accept our apology for not issuing RCC's within the initial 10day period.

We have high volumes and internal matters to deal with to ensure that the figures provided does not compromise Council or the purchaser.

I note your analysis of our problem but I can assure you that the process highlighted by yourself is not so easy and simple as set out in your mail, if it was that simple without any manual interaction it would have been possible, but we have to make sure that all debt are called for, including debt where services were consumed without the owner or the tenant signing for the consumption.

We are looking in improving by re-engineering some of the processes and this should be completed within the next three months this includes the appointment of further staff.

If you encourage your applicants to contact the City directly it will not improve the process but rather slow it down.

Hope you will understand and I can assure you, the city is committed to a better service.
Regards
--
Peet Du Plessis
Head: Revenue Management
---------------------------------------------------------------------------------------------------------------

Rest assured, Mc Naught and Company are not leaving the matter there and are actively pursuing the matter with council further to try and reach a workable solution that will not have an incredibly negative impact on the entire Greater Durban property market.

Watch this space for updates.

Tuesday, June 05, 2012

Celebrating the Queen's Diamond Jubilee




Congratulations to the Queen of England on her Diamond Jubilee. As Deputy Mayor of Durban in 1994, I had the rare privilege of hosting Queen Elizabeth and Prince Phillip to the Mayor's Tea Party in the Durban City Hall to mark her first official visit to Durban after our change of National Government earlier that year.

Tuesday, May 22, 2012

General Power?

It is common to use a General Power of Attorney or a Special Power of Attorney to sign documents - sale agreement and conveyancing documents if you want someone to step in for you if you are leaving for overseas, going on holiday etc.

However if you do intend to use this document to register a property transaction in the Deeds Office, the GPA or Special Power of Attorney needs to comply with certain criteria.

1. Grantor to be correctly described: the person giving the power of attorney needs to be correctly described, exactly as they would be on the Deed of Transfer for the property transaction concerned

eg

NAOMI TRUDY OLDFIELD
Identity Number 570823 0012 08 4
Married out of community of property  or

PETER GEORGE OLDFIELD
Identity Number 550324 5105 08 3
and
NAOMI TRUDY OLDFIELD
Identity Number 570823 0012 08 4
married in community of property to each other  or

PETER GEORGE OLDFIELD
Identity Number 550324 5105 08 3
Married, which marriage is governed by the laws of England and duly assisted herein as may need be by
NAOMI TRUDY OLDFIELD
Identity Number 570823 0012 08 4

These are just 3 examples and depending on how or where the parties are married, the citation of them on the document needs to be exact, failing which it will get rejected by the Deeds Office and will have to be redrawn, meaning a delay in the conveyancing process.

  2. The GPA either needs to get registered in the Deeds Office along with the related property transaction (and there is a cost involved), or, if used as a supporting document, it needs to carry a conveyancer's certificate that the GPA relates to the particular property transaction.

3. The GPA or Special Power of Attorney needs to carry a "Prepared by me" confirmation and signature by a Conveyancer.

4. If the power of attorney is signed outside of South Africa, the signature of the document needs to be properly authenticated for use in the Republic. There is also a set procedure for this and if you click on the following link, it will take you to an earlier blog article dealing with the authentication process.

Thursday, May 10, 2012

Property 24

 Here's the new face of Mc Naught and Company on the property website Property24.com

We can receive electronic transfer instructions from any agents listed on the site.

Monday, May 07, 2012

Friday, April 13, 2012

April newsletter published

Click on the newsletter to enlarge it, and feel free to contact us should you require additional information. mark@maclaw.co.za



Simplified forms for Sellers and Buyers

With the changing information requirements of the Transfer Duty Department, rates Department and FICA, there is always too much information required of your Sellers and Buyers.

We have streamlined this and reduced the amount of information you as Agents need to collect from your clients. Click on the link in this email and save your own copies of the new Seller and Purchaser's Information sheet required to be attached to your sales agreement. Any more information is too much as the conveyancers will be in contact with the parties to collect this.. most of your clients certainly do not have it all to hand when you are signing with them.


This is the link to our Skydrive where you can download this and other useful sales documents and information.

Monday, February 20, 2012

Quick law bites...

Here's some interesting facts worth remembering:

Foggerty-Le Roux

1. If a woman assumes a double-barreled name on marriage, a formal change of name application with Home Affairs must be done. A deeds registration therefore cannot be done in this new name without this as the registration needs to follow the details appearing on the person's official green bar-coded ID book.

Partners in crime

2. Partners in a partnership business need to register property in all of the names of the partners and it cannot be in the partnership name.

Marry well

3. Marrying in community of property automatically gives ownership of previously acquired property of one party to them jointly.It is important when marrying to consider the full implications of the way you intend to get married. Check out our marriage page on our website and come in for a full discussion. There is no additional charge on top of the costs of registering an Antenuptial Contract to make sure you have peace of mind.

Yes Sir

4. A sale of agricultural land being sub-divided is not valid unless the consent of the Minister is obtained first. Sales containing a "subject to" clause before the consent of the Minister has been obtained have been ruled in court as invalid. If you are contemplating purchasing sub-divided land or land to be sub-divided, please come and see us to make sure it can be structured legally.

Get a slice of South Africa's sunshine..

5. Foreigners may buy property in South Africa but may not get a bond for more than 50% of the purchase price. The profits of any resale can be taken out, as long as the owner can prove the original source of the funds from outside South Africa. If you have a foreign buyer, one needs to check the buyer's intentions and make sure the right documents are preserved. Foreign companies as purchasers also have special requirements and you can check these with us.

For more info email dave@maclaw.co.za
Dave 083-70333-29
Acknowledgements to SA Deeds Journal Issue 25

Friday, February 17, 2012

Birthday Month


1st March 2012 is our 28th birthday and we enter our 29th year in business operating from our Bluff and Amanzimtoti offices. We celebrated in style at our recent big bang bash and we thank all of our loyal clients and associates for 28 years of success. Here's looking forward to 29, 30 and beyond in service excellence to our growing family.

Saturday, January 21, 2012

What a Party!!

Comedian Glen Bo entertaining us all















Lisa and Mark tuck in





Dave, his mom Molly and daughter Kate-Lynn

Lisa, Mark's fiance, Mika, our new articles clerk in Toti, and Gopi, her fiance.