LEG 03 – Legal Bits: Property

Course Presenter: L. Rautenbach/J-P. Kouwenhoven

Duration: 5 hours

Maximum Attendees: 30

Course Level: Intermediate

Costs: (FCS Clients, NIPA, ICAN) Not presented in 2019

Costs: (all others) Not presented in 2019

Aimed at: Financial managers; accountants; senior bookkeepers; trainees.

Legal Bits modules cover a variety of ancillary pieces of legislation, which are time and again encountered on the fringes of the accounting profession. This presentation deals with the following:

  1. Property Ownership, joint ownership, sale in execution;
  2. Property rights – Real rights, limited rights, prescription, Bare domimium and usufruct, mining rights, calculating the value of a usufruct, tax and transfer duty implications;
  3. Buying a property – Principles of contract, the Title Deed, servitudes, endorsements, financing options and interest calculations, calculating transfer duties, calculating bond registration costs;
  4. Sectional Titles Act & Regulations – establishing a sectional title plan, what is common and exclusive property, duties of trustees, house-rules, calculation of levies, audit requirements;
  5. Leasehold improvements – accounting and tax treatments;
  6. Municipal rates and taxes – The valuation roll, rates on land and on buildings.