Buying property is the biggest purchase most people whether it be a conventional transfer of freehold property,
make in their lives, and it is a process fraught with scary the creation of sectional title schemes and the transfer
admin, piles of paperwork, and some easily missed details thereof, or the registration of housing units for sale on
that may just turn out to be very important. It’s pretty a life right basis. And there is no substitute for in-depth
stre ssful. And buying a retirement property can be even industry knowledge for getting it right.
more stressful because there are all kinds of emotional
issues surrounding what is already a complicated legal Rabie & Rabie Attorneys have been involved in the
and logistical process, especially if you’re buying off plan. development of several prestigious retirement villages
including Kronendal Retirement Village, Pinelands
Fortunately, though, the retirement industry is highly Grove, The Somerset Lifestyle and Retirement Village,
regulated – specifically to protect you from costly mistakes and Fernbridge, so they have the necessary expertise to
when making what could be your last big investment in guide both the property developer and potential residents
property. The relevant regulations include the Housing through all the phases in the development process.
Development Scheme for Retired Persons Act, the Older These include, but are not limited to, the drafting of all
Persons Act, and the Community Schemes Ombud statutory required documents, such as constitutions
Service Act. They’re all good pieces of legislation, but and scheme rules, and the preparations of deeds of
they’re pretty complex, so it’s worth engaging specialist sale. The latter are highly regulated, and must comply
conveyancers who are familiar with the retirement with the abovementioned legislation, and the regulations
industry, and all its ramifications. promulgated in terms thereof
The most important aspect from both the developer’s and
the purchaser’s point of view is the actual transaction,
RABIE & RABIE
Attorneys, Conveyancers, Notaries
Reidhof Centre, Loxton Road, Milnerton, 7441
P O Box 101, Milnerton, 7435, Docex 228 Cape Town
Tel: +27 (0) 21 552 2110 | Fax: +27 (0) 21 551 1334
Email: [email protected] | http://www.rabieattorneys.co.za