As published in Business Day’s September 2024 Business Law and Tax Supplement. A recent Supreme Court of Appeal judgment highlights the unpleasant long-term consequences which can arise when families do business together without carefully thinking through what...
Some property owners may wish to transfer a property in their personal name into a family trust or business entity. There is a common misconception that this transfer can be done by simply changing the ownership details at the deeds office, but the process is more...
Any legal entity (company, CC or trust) requires a resolution to be signed by its decision makers to authorise an individual to sign any required documentation. In the case of a company or CC, the resolution can be signed at any point before or after the documentation...
In a recent Supreme Court of Appeal decision [1], the court dealt with a scenario in which Nedbank Limited had entered into a loan agreement with a trust. In terms of the Trust Deed, for the trust to do business it was a requirement that there should be no fewer than...
When a sectional title complex is first registered, an automatic consequence is that a Body Corporate is automatically formed, and all owners of sectional title units must become members of the Body Corporate. The Body Corporate is then obliged to run the affairs of...
