Home insurance is there to protect one of the most important assets you own. And when done properly, it will allow you to insure both the structure of your home and the life that is lived within its four walls. Home insurance can be divided into three sections: Building Insurance, Home Contents Insurance, and Personal Valuables Insurance. The purpose of Building Insurance is to cover only the structure of your property, and Home Contents Insurance covers items such as …
Property ownership in today’s economy is no small feat. But even when you’ve worked most of your adult life towards buying the family home of your dreams, the possibility of downsizing should never be discounted. Whether you’re looking at lowering the costs of homeownership, or reassessing your property needs once your children have moved out, there are a number of clear indications that it’s time for you to move on to something smaller. Cost Concerns The financial costs …
When it comes to the protection of personal information, there are two acts that govern businesses and those working with such information. The Protection of Privacy Information Act (POPIA), which came into effect on the 1st day of July 2021, and the Promotion of Access to Information Act (PAIA), which came into effect on the 9th day of March 2001. With these two …
The Wills Act sets out the requirements for a valid Last Will and Testament. For a will to be valid, it must be signed and witnessed. What happens if the wishes of the deceased are clear, but the document does not meet the requirements of a valid will? This was the heart of the matter in Estate Late Elaine Ilsia …
The nomination of an executor is an important aspect of a Last Will and Testament. An executor is nominated in a Last Will and Testament and, upon death, he or she administers and distributes the estate in accordance with the testamentary wishes of the deceased. Importantly, although a person can nominate an executor, the executor is appointed by the Master of the High Court through the issuing of Letters of Executorship. The executor is responsible for, amongst other things, interpreting the Last Will and …
Arbitration is one of a few dispute resolution mechanisms which include conciliation (negotiation), mediation, and litigation. It is regulated by the Arbitration Act 47 of 1965 (“the Act”) as amended. The Act does not provide for a definition of arbitration. Butler and Finsen in their book, Arbitration in South Africa Law and Practice, provide the following definition of arbitration, stating …
What is prescription? As a general rule, prescription occurs when a debtor’s liability to pay a specific debt is extinguished as a result of the passing of a prescribed time period. As soon as a debt prescribes, a debtor is no longer under any obligation to pay it. It is still legal for the creditor to demand payment or even sue for a prescribed debt. The debtor will then, …
The Protection of Personal Information (POPI) Act came into full effect on the 1st of July 2021. If you still haven’t implemented your POPI compliance strategy, it is strongly advisable that you take quick and decisive steps to do so as non-compliance could carry hefty penalties. To ensure that you get your (POPI) act together, we’ve put together a handy list of A-Z* terms that you …
As the property market continues to piece itself back together amid the ongoing pandemic, the rental market continues to feel the impact of the times more than any other sector in the real estate industry. While property sales have slowly picked up, and first-time homeowners are enjoying the advantages of a buyer’s market, empty rental properties continue to fill the market. With one in five properties in the …
South Africa ranks among the countries with the longest average working hours per week. The average worker in South Africa works approximately 42.5 hours per week (or 8.5 hours a day) according to findings by the University of Oxford. For employers who have to multitask and focus on various tasks in rapid succession, cutting out wasted time is crucial. Not only is it important to ensure that …
