Real Estate Investor Magazine South Africa November 2014 | Page 19

upfront 2 upmarket 14 unit complexes in South of Boksburg. 50 00 00 00 00 0 According to Martin Brassey (SC) and Dr Anthea Jeffery of the Institute of Race Relations (IRR), a controversial Constitutional Court ruling has paved the way for the misleadingly-named Promotion and Protection of Investment Bill of 2013 (the Investment Bill) - a sweeping new expropriation measure by another name - which threatens the property rights of individuals and enterprises, both local and foreign. The ruling confirmed if the deprivation of ownership is not matched by the acquisition of ownership by the State, no expropriation occurs and no compensation was payable. “Provided the State takes land under claim as ‘custodian’ for land claimants who can use it for agreed periods, there will be no expropriation – and no compensation payable,” says Dr Jeffery. “On this basis, the Government can assume the custodianship of more land, while more South Africans will find themselves dependent on the State’s permission to occupy the land on which they live and farm.” Similar measures, intended to generate a similar outcome, can be taken as regards to all ‘investments’ covered by the Investment Bill. These are broadly R1 R1 50 R2 40 00 00 0 exceeding their assets with, as recent US experience shows, adverse effects on loan recovery and on the viability of banks.” 
The threat to our property rights is being recognised by various business experts, many of whom participated in the AfriBusiness Property Rights Conference earlier this year. AfriBusiness released a report at the conference in which 14 Bills, policies and court verdicts were pointed out which aim to limit, undermine or dismiss property rights outright. According to AfriBusiness CEO, Cornelius Jansen van Rensburg, the report claims the ANC government is planning to make good on its promises of expropriation. The report makes it clear government’s redistribution policy is not only targeting agricultural land but all types of property ownership. “This legislation has been formulated in such a way that a legal precedent is set which will be made applicable to all property,” Jansen van Rensburg said. The strategy appears to undermine property rights in a systematic way. The state first limits property rights by means of legislation and then assumes de facto control over property when it is too late to oppose the move. A well-maintained commercial property in Springs Motor Town. A complex of 14 units in Parkrand, Boksburg. Contact Tel: Kim Jury on 083 4424771 Email: [email protected] Neil Stuart Jury Attorney’s 24 years of experience, is your: Neil Stuart Jury Attorneys Tel: [phone]/6635 Email: [email protected] • One-stop-service • Offering full legal & marketing support • A thorough market evaluation of your property • At only 3% commission www.reimag.co.za www.threepercent.com more info can be found on website in regard to properties November 2014 SA Real Estate Investor 19