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Sectional vs freehold
- 1. The difference between Sectional Title and Freehold Property
- 2. Freehold Property • = Stand / “Erf” • Own land (plus buildings on it) • General Plan • Township Establishment
- 4. Freehold Property - Estate
- 5. Sectional Title • Unit / Section • Own building only (plus undivided share of common property) • Sectional Title Plan
- 6. Sectional title - flats
- 7. Sectional title - complex
- 8. Registered By FREEHOLD • Deeds Registries Act, 47 of 1937 • Townships Ordinance, 1986 (Gauteng) • Now SPLUMA SECTIONAL TITLE • Sectional Title Act, 95 of 1986 • Now SPLUMA
- 9. Governed By FREEHOLD • Municipal Bylaws • Conduct Rules if HOA • (HOA Building rules) SECTIONAL TITLE • Body Corporate Management and Conduct Rules
- 10. Insurance / Risk FREEHOLD • Full risk of ownership • Repairs & maitenance • Owner responsible for HOC insurance SECTIONAL TITLE • Body Corporate insurance covers structure and common property • Owner responsible for inside of unit
- 11. To pay FREEHOLD • Rates and Taxes • Utilities • Insurance • Levies only HOA! SECTIONAL TITLE • Rates and Taxes • Utilities • Levies always!!!
- 12. Tips 1. Check Deeds Search / Lightstone to determine whether sectional of freehold 2. Make sure correct property is disclosed on Offer to Purchase 3. Make buyers aware of costs of levies, rules, etc
- 14. This training material and any rights attached hereto are the property of KAPP VAN WYK VAN ZYL Incorporated (KVV Inc). We took great care to ensure that the information on this training video/slideshow was correct at the time of publishing thereof. However the Law is ever changing and there may have been case law in the interim that could alter the position. The information in this training video/slide show is for information purposes only and should not be regarded as legal advice. Each case will always be judged on its own merits in a court. KVV Inc accepts no liability whatsoever for any loss or damages whatsoever and howsoever incurred, or suffered, resulting, or arising, from the use of this training material or its attachments. Should you require legal advice on a matter, please contact us on training@kvvinc.co.za.