Co-ownership and joint purchasing | Property Tips South Africa

Welcome to an illuminating exploration of "Co-ownership and Joint Purchasing." In this episode, we will empower you with invaluable insights and actionable guidance to navigate the realm of co-ownership and joint purchasing. The decisions you make in this domain can have a profound impact on your financial strategies, and we are here to steer you through the intricacies.
Grasping the concept of co-ownership and joint purchasing is fundamental to making well-considered financial choices. Whether you are an experienced investor seeking collaborative opportunities or a newcomer delving into shared ownership dynamics, this episode is a must-listen.
Effectively managing your choices regarding co-ownership and joint purchasing necessitates thoughtful contemplation and financial proficiency. We will provide expert counsel on evaluating your circumstances and selecting the optimal path for your requirements, all while safeguarding your financial well-being.
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[@mrmanq9517]

Very informative...light bulb moment🙌

[@bharatgajjar3890]

Thanks for the very informative presentation. I bought a property/holiday apartment in Cape Town jointly with a cousin with a split of 75% owned by me and 25% by my cousin. He now wants to sell his 25% and I am willing to buy it.There is no bond involved. The current valuation is R4.8 million which is R400k above the purchase value. In terms of transfer duty/fee am I correct in assuming this will be calculated on his share of 25% of R4.8m i.e. R1.2m Taking into account the R1.1m relief available the the transfer duty will be 3% of R300k which equals R3k. Your views on my assumptions will be appreciated.

[@AnroSwart-l9j]

Thank you for a well delivered & informative video. Suppose I purchase a property through a co-ownership agreement with 2 other buyers & a joint-bond / homeloan where Partners' contributions to initial deposits are 40-40-20; Does that imply that the property's ownership structure is 40-40-20 as well? I mean would that be a fair arrangement? In this case, imagine an event where our joint bank account / property revenue doesn't cover the monthly bond installment? If we then pay that monthly bond installment equally (1 third each), does that change the ownership structure? Or is it best to have an agreement where we pay monthly installments in the same proportion as the initial deposits & ownership structure? Any advice appreciated Thanks, Anro

[@devjono]

Do you have any advice on house auctions?

[@davynovanheerden1468]

Hi, I myself purchased a property with my parents from a young age. My dad passed away recently. My question is, what happens to my dad's share if he had no will. They, too, were married in community of property. Thank you.

[@hey_carl]

Is it better to buy a joint property in a trust or company? Another question, if having a split % in a company/trust for one property, what happens when purchasing the next one and the split looks different?

[@propertycornerZA]

Trust vs Company is an age old debate. It depends upon your circumstances and needs. There is no one-size fits all answer. You need to determine what the main reason for wanting to purchase in a entity is e,g, risk reduction, tax benefits, succession/estate planning, etc and then confirm which type of entity is best. One item I often find overlooked prior to purchasing in a legal entity is the onerous requirements when applying for finance vs personal capacity,