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10 December 2020 00:00
Conveyancers to be ‘more’ vigilant states 2020-21 SRA Risk Outlook
UK - TodaysConveyancer
The latest Solicitors Regulation Authority (SRA) Risk Outlook 2020-21 gives a stark reminder to the conveyancing industry that they are most at risk to be targeted by money launderers.
It states that conveyancers and the firms they work for need to be more alert as they are currently at ‘further risk’ of being used to launder money because the stamp duty land tax (SDLT) holiday has caused a pent up demand of property transactions which has drove up the value of properties, in order to complete before the SDLT ends on the 31st March 2021.
In addition, wealthy individuals from overseas ‘who are looking to exploit the investor visa scheme might use solicitors to make UK investments using criminal proceeds’. Those solicitors working in the London property market are targeted and are at a much higher risk of being caught in the middle.
City of Ekurhuleni to Jhb Deeds Office on Rates Clearance
South Africa - Tech4Law
Re: The Municipal Property Rates Act No. 6 of 2004.
1. In terms of section 89(3) of the above to Act, registrars of deeds are compelled to call for rates clearance certificate within the transfer of all “property” as defined in section 1, as from 2 July 2009.
2. As interim measure, and until a final arrangement as to the rating of property is made, the following measures will apply:
2.1 Registrars of Deeds need not insist on rate clearance certificates for rights registered against immovable property, as provided for in the definition of property. This will have the effect that no rates clearance certificate need be called for the registration of inter alia, exclusive use areas, cessions of real rights of extension, cession of lease agreements and the cession of servitudes.
Built environment surveys reveal ongoing frustrations with government
South Africa - PropertyWheel
The results of two nationwide surveys in November by the South African Geomatics Institute (SAGI) are the latest in numerous surveys conducted over the past year with built environment professionals in the private sector confirming how Government is not doing enough to fast-track property development.
This is despite President Ramaphosa’s repeated call for the public and private sectors to work closely together to revive the country in the wake of not only Covid-19 but a failing economy even before the pandemic struck.
Specifically representing experts in the fields of land and engineering surveying, planning, photogrammetry, remote sensing, geographical information systems (GIS) and land management, SAGI (a PBO) undertook these surveys to ascertain the levels of inertia its industry members have been experiencing with Government, particularly around the subdivision of agricultural land (known in short as Act 70/70).