Titi Attorneys Inc

03/05/2024

Candidate Attorneys Position.

NB: PLEASE SEND TO THE email address on poster. CV’s sent to other email addresses will not be considered.

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T**i Attorneys Inc

09/04/2024

11/06/2023

HOW TO ESCAPE JOINT LIABILITY UNDER A MORTGAGE BOND

Entering into a mortgage bond with a co-applicant, such as a partner, family member or friend, is not an uncommon scenario. However, the question arises as to how a joint bond may be terminated in the event that a person no longer wishes to be jointly bound.

Terminating a joint bond if both parties want it cancelled.

There are two ways in which a joint bond may be dealt with. One option may be that both parties may jointly decide to formally have the mortgage bond cancelled. The first step would be for the parties to give notice to the respective bank that granted the mortgage bond, of the intention to cancel the bond.
It is important to note that you must give your bank 90 days notice of the intention to cancel the mortgage bond in order to avoid the bank charging any penalties. The bank will then instruct attorneys to formally cancel the mortgage bond at the Deeds Office. The bank will issue the attorneys with cancellation figures, which is essentially the amount that is still owing on the bond plus any interest and fees which is required to be paid to the bank in order to settle what is owed on the mortgage bond. This amount must be settled by a bank issued guarantee in order for the existing mortgage bond to be cancelled.

If the property is not being sold, then the parties will need pay the amount owing into the trust account of the attorneys in order for them to issue the guarantee to the bank. Alternatively, if the parties decide to sell the property, the purchaser will need to provide a guarantee emanating from the purchase price in favour of the existing mortgage bond.

Terminating a joint bond if one party wants to be sole debtor

A second way in which joint liability may be terminated, is if one of the parties decide to take full liability for the mortgage bond, and agree to be substituted as the only debtor under the mortgage bond. The parties can then apply to the bank for a “substitution of debtor” instruction. It is important to note that the bank will do a credit assessment in order to see whether the relevant party will be able to afford the respective property on their own. The bank will then appoint attorneys to attend to this substitution of debtor at the Deeds Office.

Attorney’s fees will be payable on both the cancellation of the bond or the substitution of debtor instruction.

In addition to the above bond process, a formal transfer of ownership of the property will also need to take place, as mortgage bond liability follows ownership. Therefore, a Transferring Attorney will also need to be appointed to attend to the simultaneous transfer of the property.

A joint bond can be cancelled under certain conditions

In conclusion, a joint mortgage bond may be terminated either by wholly cancelling the mortgage bond by both parties, in which the whole outstanding mortgage bond amount must be settled. Alternatively, parties may agree that one party substitutes the other party as the only debtor of the mortgage bond, however the determination of affordability will be subject to the discretion of the bank.

Speak to a conveyancing expert

For assistance or advice with your property and associated bond, or any property and conveyancing related matter, speak to our experienced team of conveyancers by emailing [email protected] or WhatsApp 0814713390

11/06/2023

TITLE DEEDS

What you need to know as a homeowner or homebuyer

The title deed is the legal document that proves that an owner, or the bank through whom the home is financed, owns the home. When the property is sold, the title deed is at the centre of that process. This is why it is essential that the document is kept safe.

“As a property owner, in addition to recording all the relevant information about your property, your title deed is important because it is evidence that you are the legal owner,” A property can never be transferred by way of affidavit.

A physical description (size, including the buildings, boundaries, any sub-divisions or consolidations, and exact – surveyed – geographical position)
Whether the structures are freestanding, semi-detached, and/or an apartment or communal type building.
If the property is freehold or sectional title.
Owner’s information recording the personal details of the legal owner(s), including full names and identity numbers
Historical information, including all dates when the property was transferred, all the previous registered owners and what they paid for the property, and if/when the property was sub-divided.
Any special conditions that apply to properties. For example, habitual rights, right of way, servitudes


“A property title deed will also record anything that could restrict its sale. For example, if it is bonded to a bank, before a property changes ownership, that bond must be paid off. Each time a property changes hands, information is added to the title deed, which is stamped with an official Deeds Registry Office seal. This confirms the date on which the property was registered in the name of the new owner.

For those who are paying off a home loan, the bank will keep the title deed until the loan is paid off in full and the owner requests to close the loan account. “It is important to note that, even after paying off the loan in full, the loan account will stay open unless you request to close it. If you sell the property before you have paid off the bond, that loan must be settled before the bank releases the title deed to the transferring attorney

On the other hand, if you have paid cash for the property, once the property is registered in your name at the Deeds Office, the conveyancing attorney will send the title deed to you. Similarly, when you have paid off your home loan and you request to close the loan account, your bank will then send the title deed to you.

If you happen to lose your title deed owing to a burglary, or if your house burns down (as happened in Knysna a few years ago), or if your home is washed away in a flood (as happened in KwaZulu Natal), you can apply to your local Deeds Office and will have to pay a fee before being issued with a certified copy of your title deed.

Members of the public can also request information about a property through the Deeds Office but will have to have all the information about the property, including the owner’s full name, identity number and/or date of birth. “You will also need some technical information about the property – not just the street address – the erf number, township or farm name and number. You will have to make a formal application – either at the office or online – and complete the relevant form, and will have to pay a fee

Those who have any further questions about how the title deed works are encouraged to send your queries to [email protected] for further information.

If you are ever unsure about anything relating to the ownership of your home, get some free advice from us on 0814713390

02/02/2023

DIVORCE/SEPARATION

Something that many people struggle with during the divorce/separation process is respecting their stbx as a parent. It's hard.

You need to set aside your differences on a personal level, contextualise the often mutual anger, distrust etc. and trust that the will do what's best for your children when they're in their care. It's hard when you're "at war" with each other, but it's essential to preserving the relationship between your children and their parents.

Some simple guidelines.

If you're the custodial parent, once a week send a quick and polite e-mail to the other parent outlining what the kids have been up to, been learning, friends they've made etc. Just keep them in the loop. It's vital that this connection is respected.

Never talk badly about the other parent or argue with them in front of the kids. You're the adult, suck it up buttercup. Kids are sponges and learn from what we do not what we say. You need to be the bigger person even if it does mean biting your lip. If you can't talk civilly, then rather keep all communication on e-mail except for bona-fide emergencies.

If you're claiming money for the kids, be specific on what it's for and offer the other party the option to pay their way directly to the school/ daycare etc. Let them be part of the parenting process and know where the money is going. This is key to each party understanding that they're maintaining an obligation to their children and not dishing out cash to a former spouse. It's a small detail but very important.

Disconnect from your STBX's life. Where they choose to live, who they choose to see, what they choose to do is no longer your business. It's hard - but it just isn't. The sooner you embrace that and focus on you the faster the emotional recovery happens.

You cannot control what your STBX does. You just can't and you shouldn't. People act irrationally during divorce/separation it's temporary and part of the process. Just chill - see the big picture.

Take your parenting plans seriously, spend sufficient time thinking all the angles through and putting as much detail into it as neccessary being both fair and respectful to the other parent. Don't try and write nonsense in like "i reserve the right to approve where X is living" it won't fly in court and you don't have that right (see disconnect above).

One step at a time and keep your slate clean - no matter what the other party says/does, keep your side clean and show your kids by example that there is life after divorce/separation. Heaven forbit it happens to them one day, you want them to have a stable frame of reference for life after.

28/07/2022

Father's too are capable of being primary caregivers regardless of the age of child. One of the challenges we had the school was discriminating the father because he does not appear on the birth certificate of the child.

We dealt extensively with the Natural Fathers of Children Born out of Wedlock Act 86 of 1997.

28/07/2022

On the 1 February 2022 we were approached by a client who's child was taken out of the Province by the biological mother without his consent. The minor child had been in his care since the age of 3 and no contact with the mother.

December 2021 the mother requested to see the child and be with the child for holidays and the Father agreed when it was time for the child to return he was informed that child is in Limpopo & would not be returning to the Eastern Cape.

The mother had gotten a transfer letter from a school in East London by misrepresentation. (she got her boyfriend from Transnet who wrote to the school and misrepresented himself as the father of the child)

The first thing we did was appoint tracing agents, we traced through the department of Education with the transfer number on transfer letter, unfortunately the child was untraceable as he was enrolled in a private school. We also wrote to the commissioner in Limpopo to assist but to no avail.

Our next step was to appoint a PI to trace the child and the unfortunate part of the process is that, we would have had to bring the matter in Limpopo Courts where the child currently resides which is a problem for most parents wanting access or primary care for their children..

We then advised that without the whereabouts of the child there is nothing we can do. We need the child to be brought to the EC somehow.

The child was brought to the Eastern Cape for June holidays. The father has since refused to give the mother the child and we were then requested to bring an urgent application by the father because the school will not re enroll the Child without a court order.

We are in court for that today and shall advise of the outcome.....

14/07/2022

Types of trusts in South Africa

There are 3 basic types of trusts, being an Living Trust, A Testamentary Trust and a Curatorship Trust. More commonly however, trusts are described by the way in which they are formed:
Living (Inter Vivos) Trust:

This is a trust which is created during the lifetime of the founder. There are two types of living trusts in South Africa, namely vested trusts and discretionary trusts. In vested trusts, the benefits of the beneficiaries are set out in the trust deed, whereas in discretionary trusts the trustees have full discretion at all times about how much each beneficiary is to benefit. A living trust is created by the drafting of a trust deed and registering the trust (along with various prescribed forms) with the Master of the High Court. The trust becomes effective as soon as it is registered.

Testamentary (Mortis Causa) Trust:

As the name suggests, a testamentary trust is one which is provided for in the will of the deceased person. The will itself will stipulate that a trust must be set up upon that person’s death. Testamentary trusts are usually created to hold assets on behalf of minor children for example.
For the purposes of this article, we will focus on living trusts and outline a number of considerations that you should be aware of in this regard.

Asset protection

One of the main advantages of a living trust is the protection of assets from creditors. Since assets held by the trust aren’t owned by the trustees or the beneficiaries, the creditors of the trustees or beneficiaries can have no claim against the trust (there are exceptions). Simply put, any assets that are in the trust are not considered as part of the estate in the case of insolvency. There are also certain tax benefits when dealing with the deceased estate.
Assets can be transferred into the living trust either by a loan or a cash donation. In terms of South African law, a donation to a trust that does not exceed R100 000 within the applicable tax period will be exempt from donations tax (and then levied at 20% once the limit has been exceeded for that tax year).

Advantages

The growth on assets transferred to a trust is not subject to estate duty, because the growth belongs to the trust. If you have made use of a loan to the trust, the value of the assets as at the date of transfer remains an asset of your estate because of the loan account in your estate.

A trust does not die. This means that the trust is not liable for estate duty, other taxes or costs, such as transfer duty, executor’s fees, or conveyancing fees, that would otherwise be payable in the hands of the estate or the heirs. Also a trust does not pay CGT as long as an asset is not sold.

Assets / benefits in a trust continue to be paid to the beneficiaries after you die. Assets in the estate may not be freely available to your dependents because the estate is frozen during the winding up process. This means that dependants may only receive an income after your estate is finalised.

Protection of assets. A beneficiary cannot sell a right in a trust (unlike shares in a company for example). If a beneficiary becomes insolvent, the assets in the trust continue to be protected. Likewise, if you as the donor or trustee become insolvent, the trust’s assets remain protected.

Income from a trust can be structured in such a way to provide tax efficiency. For example, R100 000 earned by a trust can be split between five beneficiaries so that they earn R20 000 each. Assuming that they earn no other income, they would pay no tax as this amount is below the threshold. This is the so-called split income principle i.e. income tax is levied against the trust, but income distributed is taxed in the hands of the beneficiary.

Creditor protection in the event of the trust beneficiary’s insolvency. As mentioned before, in the case of a living trust, the assets are not owned by the trustees or beneficiaries and the creditor therefore has no claim against them

04/07/2022

When purchasing a property, attorney firms generally push to have a matter registered between 2 and 3 months from instruction. There are some factors that contribute to whether the process will take longer or shorter such as applying for rates certificates and how long it can take to obtain figures for rates and to obtain the certificate after making payment for the rates figures.

Let’s look at a simplified process of what happens within those three months:
1. Attorneys will make contact with all parties and request F**A documents to allow them to draft their documents
2. Documents are drafted and parties requested to sign
3. Proceed to lodge is requested from the bank once all bond documents are sent to the bank
4. The transfer attorneys request rates, levies and transfer duty receipt
5. Guarantees are issued
6. Payment is made for figures received
7. Once the levies, rates, guarantees and transfer duty is received as well as the proceed from the bank, the attorneys submit their documents to the Deeds Office who will then register the bond and transfer simultaneously.

Obviously there is a lot more that happens in between these steps but that is why you have an expert team, skilled professionals who will guide you through the entire process, keep you updated throughout and ensure that the property registers quickly and without issues

Call us on 0814713390
Email us at [email protected]
Visit us at 1 Cavendish Road, Vincent, East London

30/03/2022

A win for girl child💃

R4000 monthly maintenance
100% School fees
50% school uniform
50% Stationery

20/02/2022

FUTURE MAINTENANCE

Future maintenance refers to maintenance payable in the future. We often assist parties who receive maintenance from another party who decides to retire prior to his or her maintenance duty having fallen away.We approach the court here with an application setting out our calculation of the actual maintenance needs of the party or the children. In the case of children it will be until they become majors. The money is then frozen where it is being held(either at the Pension Fund Administrators or relevant bank) and the parties will be granted an opportunity to show the court their reasoning behind the applicaiton.

Maintenance paying parents can therefore not retire whilst their children are still young and expect not to be held accountable for their children’s reasonable maintenance needs. We often bring applications like these as many parties retire prior to their children being self supporting.

HOW DID WE GET R110. 000 FOR 2 YEARS??


In June 2021 we received an instruction for maintenance for child of 16 years. The parents had just divorced and were married in community of property and there was no maintenance order in place. Mother had applied for R5500 maintenance towards the child. What we then did was interdict the Pension fund from paying out the Respondents 50% portion as per divorce court order until finalization of the child's maintenance case. We calculated the 16 year olds expenses which came up to R +11000. We then divided by 50% and calculated that the Respondent is liable for R55. 000 per year towards child's maintenance for the next 2 years which then brought us to obtaining an order directing the Pension fund to pay out of R110, 000.00 for year 2022 and year 2023 to the bank account of the child.

For more information on future maintenance contact us on [email protected]