Every Clause Counts

Johané Botha, Attorney

How is property law different today? 

There is a stronger focus on compliance and protecting the integrity of property transactions. One of the biggest changes has been the FICA requirements, which have resulted in more comprehensive client verification and supporting documentation required from clients. These measures exist to prevent fraud and money laundering.

A transfer or conveyancing matter that changed how you view property law? 

I have learnt that every property transaction represents a significant chapter in a person’s life. A property carries meaning far beyond its monetary value. Although conveyancing requires legal expertise, it is also necessary to have an understanding of what your client’s specific needs are.

Advice for property buyers and sellers in South Africa: To ensure that their Agreement is signed correctly and contains all the agreed-upon terms and conditions. If there are any additional conditions the Parties wish to include, they must be written and form part of their sale agreement so any future disputes or potential problems can be avoided.

A few things every South African should have in place before buying or selling property:

Before buying
- make provision for payment of transfer and bond costs
- view and inspect the property closely

Before selling
- disclose all known defects in the property disclosure
- remember to give the bank 90 days’ notice of the sale, otherwise an early termination charge may be payable.

Tel: 031 502 6902
Website: www.dacostaattorneys.co.za