Fixtures and fittings

Most sale agreements have a clause to the effect that the fixtures and fittings in the house must remain.

The problem then arises as to exactly what is included under the “fixtures and fittings”. Does this include curtain rails? A Chandelier [which so impressed the Purchasers]? The swimming pool automatic cleaner? [Won’t mention the trade name or else I get into trouble.] And a wendy house?

Usually only after registration of transfer and once the Purchasers have moved in, that the latter realize that items are missing.

The common law cases on the issue say that anything that was affixed to the property with the intention of being a permanent affixture, is a fixture and becomes part of the property.

But my guess is that it is best to define exactly what is meant by fixtures and fittings in the sale agreement, i.e. to describe these in fine detail so that there can be no room for dispute later on. With the onset of the Consumer Protection Act, this aspect takes on even greater significance.

Regards

Sieg

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Quote:

“I actually like my job. It’s the stress that I hate.”

S K Heiriss

When it is not possible to pay

We have had a few occurrences with a certain bank where, on the day before registration, this bank’s attorneys inform us that there is a “shortfall” on the home loan account and that we must pay this amount onto the bond so that the bond cancellation can proceed the next day. [No, I am not going to mention the bank’s name to prevent this bank from “reporting my conduct” as unprofessional to the Law Society, which one of the others did.]

However, when trying to make payment, whether by EFT or by physical deposit [cash or cheque] at a branch of this illustrious bank, one finds that the home loan account number has been “blocked”. So it causes a delay because we then have to ask the bond cancelling attorneys to ask their bank to “unblock” the account so that the payment can be made.

This all happens a day before registration and leads to much annoyance because of further unnecessary delays.

I used to bank with this bank and every time this happens, I am again reminded of how nice it was to close all my accounts at that bank.

Regards
Sieg



Quote:

“The very conscience itself of the best of men when it spoke loudest – when the soul heard as it were an inward voice bidding it to obey a divine law – was made the ground of condemnation; . .”

From the chapter on the trial of Jeanne D’Arc in Sir John Macdonnell‘s book “Historical Trials”

Consumer Protection Act: Cancelling the sale agreement

The author in yesterday’s article on Realestateweb makes the following statement:

“The purchasers of property that was marketed to them via direct marketing, such as e-mail, will be able to cancel the sale after the property has been registered, and months after the sale agreement was signed, according to the new Consumer Protection Act (CPA).” [My underlining]

The full article is available at http://www.realestateweb.co.za/realestateweb/view/realestateweb/en/page228?oid=79422&sn=Detail

The Consumer Protection Act comes into operation on 01st April 2011.

A possible cancellation after registration raises some interesting questions, such as:

1. Will it be the original conveyancer, who attended to the transfer to the Purchaser, who must now see to the re-transfer of the property to the Seller?
2. What about the money that has been paid, for example, to the former bond-holder, to settle that bond? And will that bond simply be “re-instated” by the bank?
3. Who is going to pay the costs of the “re-transfer”?
4. Will SARS readily refund the Purchaser any transfer duty that has been paid?
5. What about the original estate agent? Must the estate agent refund the full commission? What if the agent has already spent the money? Or is no longer an estate agent?
6. Will it make sense, in order to prevent such a “cancellation”, to allow the purchasers to occupy the property for a minimum of five business days and then only pass transfer?

Regards
Sieg




Quote:


“You get a shiver in the dark
It's raining in the park but meantime
South of the river you stop and you hold everything
A band is blowin' Dixie double four time
You feel alright when you hear the music ring”

Mark Knopfler of Dire Straits in “Sultans of Swing” [Sorry, again, my underlining]

[quote brought about by Anton of “Future World” facebooking that he is having supper at the Tait Modern, London, which is South of the River.]



Siegie Heiriss: S K Heiriss Inc
Attorney, Conveyancer & Notary

Tel: 031 701 1238
Fax: 031 701 1239 or 031 709 0972
Fax to e mail: 0866 178 041
Cell: 083 786 26 26
SMS: 083 701 05 03

Personal e mail: sieg@legalfirm.co.za
Web: www.legalfirm.co.za
Skype: Legalmansa

Physical address :
Ground Floor, Unit 5
Pinewood Park
18 Underwood Road
Pinetown