The Rental Housing Amendment Act 43 of 2007 regulates the rental housing industry in South Africa.
DID YOU KNOW?
The deposit which the tenant pays to the Landlord remains the money of the tenant.
The deposit held by the Landlord is security in the event of damage to the property including outstanding costs due by the tenant to the Landlord.
The Landlord must invest the deposit received from the tenant in an interest bearing account. The deposit, including the interest earned during the lease period, must be refunded to the tenant at the end of the lease period.
DESPOSIT AT THE END OF THE LEASE PERIOD
No damage or outstanding costs owed to the Landlord at the end of the lease period:
The Landlord must refund the tenant within 7 (Seven) days from vacating the property.
Damage or outstanding costs owed to the Landlord at the end of the lease period:
The Landlord must refund the tenant within 14 (Fourteen) days from vacating the property.
When you die without leaving a Will, your Estate will be distributed in terms of the Intestate Succession Act. Your family will therefore have no say when it comes to the administration of your Estate.
By leaving a Will you will ensure that:
Minor children will have a nominated guardian.
An Executor of your choice is appointed.
Your assets will be distributed according to your wishes.
Beneficiaries are clearly described.
Your Last Will and Testament should:
Always be in writing.
Signed by the Testator / Testatrix.
Signed in the presence of two competent witnesses.
To ensure the terms and conditions of the financial aspects of the parties to the marriage are agreed to between the parties before entering into the marriage.
What are the different marital regimes?
When getting married, the financial position of the parties can be determined by one of the following three marital regimes:
Married in Community of Property. (He’s is her’s and her’s is he’s)
Married out of Community of Property with the exclusion of the accrual system. (He’s stay he’s and her’s stay her’s)
Married out of Community of Property with the inclusion of the accrual system. (He’s stay he’s and her’s stay her’s, but at a divorce the party whose estate grew the most, has to pay the other party)
What are the consequences of not having an Antenuptial Agreement?
Should you enter into a marriage without having signed and executed an Antenuptial Contract before a Notary, you will by default be married to each other IN Community of Property.
Therefore both parties’ separate estates, which include both assets and liabilities, will become one estate after the marriage is concluded. This is not ideal in our times. A party is then not protected against the other party’ insolvency or creditors.
There is an old saying which describes this situation perfectly “what is yours is mine, and what is mine is yours”