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Suretyship vs Guarantee. What’s the difference?

02 May 2024

In this article, we look at two primary forms of security commonly found in financial transactions, namely suretyship agreements and... guarantees, and explain the difference between these two forms of security.

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3
Article

Leave to Appeal vs Special Leave to Appeal

02 May 2024

On 4 April 2024 in the matter of Savannah Country Estate Homeowners Association v Zero Plus Trading 194 (Pty) Ltd... and Others (773/2022) [2024] ZASCA 40, our Supreme Court of Appeal (“SCA”) had to address the important difference between an application for leave to appeal and an application for special leave to appeal. In this article, we analyse the SCA’s views in this regard.

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2
Article

Suretyship vs Guarantee. What’s the difference?

02 May 2024

In this article, we look at two primary forms of security commonly found in financial transactions, namely suretyship agreements and... guarantees, and explain the difference between these two forms of security.

READ MORE
3
Article

Leave to Appeal vs Special Leave to Appeal

02 May 2024

On 4 April 2024 in the matter of Savannah Country Estate Homeowners Association v Zero Plus Trading 194 (Pty) Ltd... and Others (773/2022) [2024] ZASCA 40, our Supreme Court of Appeal (“SCA”) had to address the important difference between an application for leave to appeal and an application for special leave to appeal. In this article, we analyse the SCA’s views in this regard.

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2
Article
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Filter: Trust
Is the interest-free loan to a trust dead?

08 March 2017

For estate planning purposes a few years ago I moved some of my assets into a family trust and financed... the disposal to the trust with an interest free loan in my name. I understand that recent tax amendments will now impose unfavourable tax consequences on me in relation to this interest free loan. Is this true?

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369
Article
The abuse of trusts in case of divorce: know your rights!

15 June 2015

Trusts are more and more being actively used for estate planning purposes, but the percentage of divorces are also increasing... annually. Protect yourself by being wary of the abuse of discretionary trusts in divorces and by analysing your position and acting as quickly as possible - before it is too late....

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346
Article
Removal of a trustee who is unwilling to resign

02 June 2014

A trust is a structure into which cash or assets (“trust property”) are transferred by the founder of the trust... and which trust property is administered by the trustees on behalf of one or more beneficiaries in accordance with the trust deed. As administrators of the trust property, it is extremely important that the trustees work together and act in the best interest of the trust beneficiaries and execute their duties as required by the Trust Property Control Act (”Act”) and the Master of the High Court (“the Master”). The question which arises is what options are available if a trustee does not execute his mandate in the best interest of the trust beneficiaries but is unwilling to resign as a trustee?

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279
Article
Nuwe strandhuis: In my naam of die familie trust?

22 November 2013

Die vakansietyd is om die draai en Adriaan wil graag ‘n strandhuis koop. Hy wil hoofsaaklik die vakansiewoning as ‘n... langtermynbelegging hou en dit aan ander vakansiegangers uitverhuur ten einde ‘n ekstra inkomste te verdien. Hy het dit ook goedgedink om die strandhuis by sy dood aan sy seun te bemaak terwyl sy vrou die huurinkomste daarop verdien. Adriaan is egter een van vele kopers wat die volgende vraag op sy lippe het:  In welke entiteit moet ek my vakansiewoning koop?

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327
Article
Ways to reduce your Trust’s Loan Account

25 July 2013

There are a number of benefits to placing assets in a trust for estate planning purposes. These advantages include, among... others potential estate duty benefits as well the future protection of assets. These assets are often transferred into a trust with the parallel creation of a loan account in favour of the transferor. These loan accounts can be reduced during the transferor’s lifetime in a number of ways.

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324
Article
The powers of trustees in the conclusion of agreements with third parties

25 July 2013

Your property is in the market and you are approached by a prospective purchaser wishing to purchase your property on... behalf of a trust of which he represents himself to be a trustee. The purchaser has the financing in place and it appears that all is a ‘go’ for the conclusion of the sale. However, to what extent must you ensure that the trustee is in fact authorised to conclude the sale and cannot afterwards claim a lack of authority in order to withdraw from the transaction.

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239
Article