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Showing posts from March, 2021

EASTER with Elegant Corporate Services

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 Celebrate this Easter by securing the future of your Spouse and Children FREE consultation (30 Minutes) 10% discount on New Trusts Payment holiday on the monthly Trustee Fees Contact me at gareth@prop-law.co.za or visit us at www.elegantcorp.co.za Have a GREAT Easter! Gareth & Family

What is Land Tenure?

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 LAND TENURE and the PROPERTY INVESTOR What is Land Tenure and how does it affect the property investor? What is ULTRA (Upgrading of Land Tenure Act? How have recent Court Cases changed ULTRA? What about Land Tenure in the former TBVC states? What about the concept of the "Family Home"? We answer these  questions   and more in this video . We have done a series of videos with Taurai Jack of M5 Real Estate (Pty) Ltd , known as M5 Property Addicts, about certain legal aspects of Property Investment and Property Law in general.  The series starts with a look at the solid foundation that all serious Property Investors should establish, namely a solid business structure.  " The most important aspect of making money out of property is preserving and protecting both the property and the wealth that is created. Far too many property investors rush into buying properties without first getting a suitable property investment structure in place. Without a suitable property investmen

Lecture with Love

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A day with the  ENTERPRISE DEVELOPMENT PROPERTY FUND On Tuesday (16 March 2021), I had the most amazing opportunity to present to the enthusiastic students of the EDPF . These are not students who happen to be at university because they didn't know what else to do after school.  These are students who have actually identified real estate as their path in life and are enthusiastic about everything related to property investment and property development. The EDPF provides a transformational opportunity for its students.  Each student receives a tablet with all the course material and additional features pre-loaded.  They don't refer to their students as "students" but as "entrepreneurs". Although it is a three-year academic program, during the 3rd year, the entrepreneur will focus on “Making the business operational” and securing their first deal. The ultimate goal is to ensure each entrepreneur leaves the programme with their very first TITLE DEED, so as t

Please Subscribe and Share

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Hello Reader If you find any value or entertainment (hopefully both) in my Blog, please Subscribe to Shepperson's First Law or Share any individual Posts. SUBSCRIBE Simply click on SUBSCRIBE  at the top of my Page and follow the prompts. Alternatively , Click on Menu - The first Item on the Menu is RSS FEEDS .  Click on the RSS symbol next to Posts, Click on " Atom " and select " Get SHEPPERSON'S FIRST LAW delivered by email " SHARE If there is any Post that you consider to be of value and worth sharing with your friends or connections on Facebook, LinkedIn, Twitter, Pinterest, etc., please Click on the Share Symbol for that Post. Thank you for taking the time to read my Blog.  If you have any suggestions for future topics, if you have some constructive criticism or if you have a differing view on any of the topics that I have discussed, please use the COMMENTS  to voice your opinion. Cheers Gareth

How to "creditor-proof" yourself

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One bad decision could destroy years of hard work. Don't allow this to happen.  It isn't bad luck, if you decide to allow yourself to remain vulnerable when you have a choice. I am not saying that you will never be sued or even sequestrated but these events should not take away everything that you have built up.  I have seen so many examples where one bad decision or one unpredictable event (think Covid) destroys a business that has taken years to build.  The owner being entirely invested in his/her business and totally reliant on that income is left destitute. It is possible to retain your house, your car, your furniture, your sentimental treasures ... and your PRIDE ... even as your Creditors circle, sue and try to sell your stuff.  It is not easy or quick but it is possible. Back in the 90's, I was introduced to a book by Peter Carruthers called Crashproof your business.  Times change and, of course, the law changes but the fundamental principals that Peter wrote about o

Do YOU want to leave a LEGACY?

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How to preserve your Legacy! Most of us would like to leave the world in a better place when we depart. The reality is that very few of us will affect planetary change. However, we can still leave our spouse and children in a better position by ensuring that our financial legacy is passed on to them (or to other friends/relatives or charities). This is less likely to happen if we allow over 50% of our estate to be lost in fees and taxes. Even if you are comfortable in allowing such erosion of your wealth, there may be significant unintended hardship for your spouse and children.   Firstly, your assets will be frozen and if they want to access your funds, they will be unable to do so. Secondly, the fees and taxes are payable by your estate. You may have many assets (movable or immovable) but not much liquidity (cash). The result is that despite being "wealthy", your spouse/child will have to sell these assets to pay the fees and taxes. This often results in assets being sold

PROPERTY TRANSFERS: Expectations vs Reality

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When buying or selling property, this can be an exciting time but it can also be nerve wracking or frustrating. Frustration is usually borne out of unrealistic expectations.  The reality regarding the timelines or costs or both are often glossed over by estate agents in an attempt to secure the sale.  Here is a very brief list of realities! TIMELINE The timeline is dependent upon so many interconnected parties and events that a fixed timeline is impossible to predict.  This is a very rough guide.   If the Purchaser requires finance, there is usually a fixed time for them to secure "approval in principal".  This is usually between 14 and 60 days, depending on the nature of the contract. However, approval in principal does not mean that the Bank has finalised its processes. There may be a myriad of information and documentation that the Bank requires before it is ready to proceed. In an example, from personal experience, an approved set of building plans was required as a condi

An Oldie but a Goodie

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Blog to people, not at people By Kevin O'Keefe   Blog to people, not at people | Real Lawyers (lexblog.com) I came across this old Blog Post and it spoke to me.   That shouldn't surprise me because Kevin knows what he's talking about.  He has always been somewhat of an inspiration for me, having followed him for over a decade.  Let me tell you a little about Kevin. In 1999, Kevin closed hislaw firm to start his first company. Prairielaw.com was a virtual law community of people helping people, featuring message boards, articles, chats, listervs and ask-a-lawyer. Prairielaw.com was sold to LexisNexis, where it was incorporated into Martindale-Hubbell’s lawyers.com.  After a stint as VP of Business Development at LexisNexis, Kevin founded LexBlog out of his garage in 2004 (no affiliation with LexisNexis). When he could not find someone to help him with his own blog, he started a company to provide what he needed. Strategy, professional design, platform, coaching, SEO, marketi

Seth Godin - An abundance of caution

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An abundance of caution | Seth's Blog " Please don’t avoid appropriate caution. It matters to you and to the community. But seeking reassurance and peace of mind by trying to drive risk to zero doesn’t get you either one of them . " I agree with Seth Godin - to a limited extent.  The human race would never have advanced from a constant state of merely surviving, if it wasn't for the risk takers. Those who try something different from " ... but that's the way that it's always been done ". However, there are ways to mitigate your risk without missing out on the opportunities that cross our paths.  If it's financial risk that concerns you, put your business structures in place before you take that leap of faith.  It serves no purpose to try and erect a safety net after you have already jumped. Follow this LINK to obtain more information. Remember to subscribe using the button in this Blog.

Denny Crane

Denny Crane
It's not me ... yet. Denny Crane from the TV series Boston Legal. Click on picture if you're not sure who he is!