Your risk of personal liability for any “loss, damages or costs”, sustained through your actions (or omissions) by any company of which you are a director, has risen sharply since the new Companies Act came into force in 2011. Your
SECURITY ESTATES BEWARE: YOUR LEVIES AT RISK IF OWNER GOES UNDER
There are many advantages to living in a security estate, provided that the HOAs (Home Owners Associations) which normally run them are financially sound. Since HOAs rely on the collection of levies from members to fund communal expenses, they should
DIRECTORS PART 2: HOW TO LIMIT YOUR LIABILITY
“The biggest risk is not taking any risk… In a world that’s changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” (Mark Zuckerberg, founder of Facebook) Your increased risk of personal liability is compounded
BUSINESS PLANNING
Owning a business requires careful succession planning and is part of your estate planning as you have to determine who will succeed you or who will purchase your shares or who will be entitled to the income after your death.
TRANSFER OF A PROPERTY: IS VAT OR TRANSFER DUTY PAYABLE?
A Purchaser is responsible for payment of transfer cost when acquiring an immovable property, but it should further be established if the transaction is subject to the payment of VAT or transfer duty to SARS. When an immovable property is
WHY YOU MUST MAKE A WILL NOW!
“The best time to plant a tree is twenty years ago. The second best time is now” (Wise advice for procrastinators from ancient China) It’s easy to procrastinate when it comes to making a will. None of us wants to
BE CAREFUL SIGNING SURETYSHIPS! AND WHAT TO DO WHEN THINGS GO WRONG
R16,6m – that’s how much (plus interest and costs) the High Court recently ordered two sureties to cough up in their personal capacities. The sureties had, as trustees of a property development trust, signed surety for the trust’s loan from
COMPLIANCE CERTIFICATES REVISITED
On the sale of immovable property a number of compliance certificates are required either by law or as a matter of standard practice. The Occupational Health and Safety Act No 85 of 1993 (OHS Act) and the Regulations promulgated in
WHAT IS THE DIFFERENCE BETWEEN MEDIATION AND ARBITRATION?
You’re not alone if you think mediation is just a variation of litigation, just as arbitration. Most people, even some attorneys, don’t know what the distinction is between mediation and arbitration. But in actual fact they are like chalk and
INSURANCE: THE RISK OF NOT REPORTING
Having your insurance claim repudiated is particularly galling if you’ve been meticulously paying out hefty premiums for years. But take care to comply strictly with all the terms and conditions of your policy contract – not doing so can cost