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Transfer Fees | Bonds | Notarial Services | Antenuptial Contracts | Company Law | Conveyancing | Divorce Law
Trusts | Wills & Estates | Mediation | Trademarks | Litigation & Dispute Resolution
We are dedicated to providing a proactive approach that upholds our values and to continuously strive to achieve our mission – to create value and make a difference.
‘We believe in forming strong bonds and aligning ourselves with the right partners, while investing in the community, and becoming invested in our clients. Functionality and simplicity through innovation is what sets us apart, and we’re proud of that. We believe in bold strokes.’
Our roadmap starts with our mission and values, which is enduring. It declared our purpose as a company, and serves as the standard against which we weigh every action and decision. We believe that the Garden Route and its surroundings are in its growth stage, and that we are uniquely positioned to provide modern-day legal advice and solutions for its ever-expanding community. A strong partner like our firm, we believe, is needed to ensure smooth, effortless legal and administrative transactions.
The law is a constantly evolving thing, and as such, it’s only natural that we evolve with it. We strive continuously to better ourselves, both through honing our knowledge of familiar fields of law, and expanding into new ones. We choose to stay vibrant, growing our firm in new directions, and not giving over to stagnation. In this manner, we’re able to handle any and all legal problems our clients may have, making ours the only firm they’ll need.
To be valued by our clients and exceed their expectations at all times.
To look after our clients’ best interests, determine their needs, and maintain the highest caliber of legal service.
The hallmark of our firm is the supportive attitude and collective sense of humour of our legal team. We work daily to enhance our common bond.
All our employees are encouraged to learn, improve, excel, and become leaders in their field. We work to assure career opportunities via sustained growth and financial strength.
Being transparent is an integral part of what we do, and how we ensure we collaborate at the highest levels – building relationships which are based on respect and understanding, whether it’s working with clients or partners. We deliver success in everything we do.
We undertake to treat all our clients as equally important, and make certain that none of them feel second best. This approach is critical for Societe Irehat Law as we work to build strong and long-lasting relationships with every one of our clients.
Representing your best interests is what motivates each of us to succeed. Whether you are a client or an employee, your challenges and needs are what motivate us.
The idea that a certain level of reserve and impersonality is a necessity for a law firm was never given much credence at Societe Irehat Law . We fundamentally believe in treating our clients in a friendly, engaging manner; nothing conveys the fact more that we care about their case, as much as showing we do.
‘It’s about standing back, raising yourself higher, and getting a different view on things. Being proactive and taking the lead – getting things done in a simple, yet sophisticated way.’
It’s unfortunate that the thinking in the twenty-first century is still that law firms need to look and act in a certain way – it’s an idea that is based purely on perception. Societe Irehat Law ’s goal from the start was to change the perception that a firm needs to be reserved and stiff, and show that it can be a warm, jubilant environment where close-knit relationships with clients can exist. We believe you have to break some walls to both gain people’s confidence, and show them a new way.
We value our clients and their business, and we’d love to hear your story, as well as offer our specialized advice. Take some time when you can, and come in to discuss your problems over coffee.
The following costs are applicable to our transfer services.
80 000.00 | 3 520.00 | 492.80 | 30.00 | 0.00 | 4 042.80 |
90 000.00 | 3 740.00 | 523.60 | 30.00 | 0.00 | 4 293.60 |
100 000.00 | 4 015.00 | 562.10 | 30.00 | 0.00 | 4 607.10 |
125 000.00 | 4 125.00 | 577.50 | 70.00 | 0.00 | 4 772.50 |
150 000.00 | 4 290.00 | 600.60 | 70.00 | 0.00 | 4 960.60 |
175 000.00 | 4 620.00 | 646.80 | 400.00 | 0.00 | 5 666.80 |
200 000.00 | 4 840.00 | 677.60 | 400.00 | 0.00 | 5 917.60 |
250 000.00 | 5 280.00 | 739.20 | 400.00 | 0.00 | 6 419.20 |
300 000.00 | 6 050.00 | 847.00 | 400.00 | 0.00 | 7 297.00 |
350 000.00 | 6 490.00 | 908.60 | 500.00 | 0.00 | 7 898.60 |
400 000.00 | 7 040.00 | 985.60 | 500.00 | 0.00 | 8 525.60 |
450 000.00 | 7 590.00 | 1 062.60 | 500.00 | 0.00 | 9 152.60 |
500 000.00 | 8 250.00 | 1 155.00 | 500.00 | 0.00 | 9 905.00 |
600 000.00 | 9 350.00 | 1 309.00 | 500.00 | 0.00 | 11 159.00 |
600 000.01 | 10 450.00 | 1 463.00 | 700.00 | 0.00 | 12 613.00 |
610 000.00 | 10 450.00 | 1 463.00 | 700.00 | 300.00 | 12 913.00 |
620 000.00 | 10 450.00 | 1 463.00 | 700.00 | 600.00 | 13 213.00 |
630 000.00 | 10 450.00 | 1 463.00 | 700.00 | 900.00 | 13 513.00 |
640 000.00 | 10 450.00 | 1 463.00 | 700.00 | 1 200.00 | 13 813.00 |
650 000.00 | 10 450.00 | 1 463.00 | 700.00 | 1 500.00 | 14 113.00 |
660 000.00 | 10 450.00 | 1 463.00 | 700.00 | 1 800.00 | 14 413.00 |
670 000.00 | 10 450.00 | 1 463.00 | 700.00 | 2 100.00 | 14 713.00 |
680 000.00 | 10 450.00 | 1 463.00 | 700.00 | 2 400.00 | 15 013.00 |
690 000.00 | 10 450.00 | 1 463.00 | 700.00 | 2 700.00 | 15 313.00 |
700 000.00 | 10 450.00 | 1 463.00 | 700.00 | 3 000.00 | 15 613.00 |
700 000.01 | 11 550.00 | 1 617.00 | 700.00 | 3 000.00 | 16 867.00 |
710 000.00 | 11 550.00 | 1 617.00 | 700.00 | 3 300.00 | 17 167.00 |
720 000.00 | 11 550.00 | 1 617.00 | 700.00 | 3 600.00 | 17 467.00 |
730 000.00 | 11 550.00 | 1 617.00 | 700.00 | 3 900.00 | 17 767.00 |
740 000.00 | 11 550.00 | 1 617.00 | 700.00 | 4 200.00 | 18 067.00 |
750 000.00 | 11 550.00 | 1 617.00 | 700.00 | 4 500.00 | 18 367.00 |
760 000.00 | 11 550.00 | 1 617.00 | 700.00 | 4 800.00 | 18 667.00 |
770 000.00 | 11 550.00 | 1 617.00 | 700.00 | 5 100.00 | 18 967.00 |
780 000.00 | 11 550.00 | 1 617.00 | 700.00 | 5 400.00 | 19 267.00 |
790 000.00 | 11 550.00 | 1 617.00 | 700.00 | 5 700.00 | 19 567.00 |
800 000.00 | 11 550.00 | 1 617.00 | 700.00 | 6 000.00 | 19 867.00 |
800 000.01 | 12 650.00 | 1 771.00 | 800.00 | 6 000.00 | 21 221.00 |
810 000.00 | 12 650.00 | 1 771.00 | 800.00 | 6 300.00 | 21 521.00 |
820 000.00 | 12 650.00 | 1 771.00 | 800.00 | 6 600.00 | 21 821.00 |
830 000.00 | 12 650.00 | 1 771.00 | 800.00 | 6 900.00 | 22 121.00 |
840 000.00 | 12 650.00 | 1 771.00 | 800.00 | 7 200.00 | 22 421.00 |
850 000.00 | 12 650.00 | 1 771.00 | 800.00 | 7 500.00 | 22 721.00 |
860 000.00 | 12 650.00 | 1 771.00 | 800.00 | 7 800.00 | 23 021.00 |
870 000.00 | 12 650.00 | 1 771.00 | 800.00 | 8 100.00 | 23 321.00 |
880 000.00 | 12 650.00 | 1 771.00 | 800.00 | 8 400.00 | 23 621.00 |
890 000.00 | 12 650.00 | 1 771.00 | 800.00 | 8 700.00 | 23 921.00 |
900 000.00 | 12 650.00 | 1 771.00 | 800.00 | 9 000.00 | 24 221.00 |
900 000.01 | 13 750.00 | 1 925.00 | 800.00 | 9 000.00 | 25 475.00 |
910 000.00 | 13 750.00 | 1 925.00 | 800.00 | 9 300.00 | 25 775.00 |
920 000.00 | 13 750.00 | 1 925.00 | 800.00 | 9 600.00 | 26 075.00 |
930 000.00 | 13 750.00 | 1 925.00 | 800.00 | 9 900.00 | 26 375.00 |
940 000.00 | 13 750.00 | 1 925.00 | 800.00 | 10 200.00 | 26 675.00 |
950 000.00 | 13 750.00 | 1 925.00 | 800.00 | 10 500.00 | 26 975.00 |
960 000.00 | 13 750.00 | 1 925.00 | 800.00 | 10 800.00 | 27 275.00 |
970 000.00 | 13 750.00 | 1 925.00 | 800.00 | 11 100.00 | 27 575.00 |
980 000.00 | 13 750.00 | 1 925.00 | 800.00 | 11 400.00 | 27 875.00 |
990 000.00 | 13 750.00 | 1 925.00 | 800.00 | 11 700.00 | 28 175.00 |
1 000 000.00 | 13 750.00 | 1 925.00 | 800.00 | 12 000.00 | 28 475.00 |
1 000 000.01 | 14 300.00 | 2 002.00 | 900.00 | 12 000.00 | 29 202.00 |
1 050 000.00 | 14 300.00 | 2 002.00 | 900.00 | 14 500.00 | 31 702.00 |
1 100 000.00 | 14 300.00 | 2 002.00 | 900.00 | 17 000.00 | 34 202.00 |
1 100 000.01 | 14 850.00 | 2 079.00 | 900.00 | 17 000.00 | 34 829.00 |
1 150 000.00 | 14 850.00 | 2 079.00 | 900.00 | 19 500.00 | 37 329.00 |
1 200 000.00 | 14 850.00 | 2 079.00 | 900.00 | 22 000.00 | 39 829.00 |
1 200 000.01 | 15 400.00 | 2 156.00 | 900.00 | 22 000.00 | 40 456.00 |
1 250 000.00 | 15 400.00 | 2 156.00 | 900.00 | 24 500.00 | 42 956.00 |
1 300 000.00 | 15 400.00 | 2 156.00 | 900.00 | 27 000.00 | 45 456.00 |
1 300 000.01 | 15 950.00 | 2 233.00 | 900.00 | 27 000.00 | 46 083.00 |
1 350 000.00 | 15 950.00 | 2 233.00 | 900.00 | 29 500.00 | 48 583.00 |
1 400 000.00 | 15 950.00 | 2 233.00 | 900.00 | 32 000.00 | 51 083.00 |
1 400 000.01 | 16 500.00 | 2 310.00 | 900.00 | 32 000.00 | 51 710.00 |
1 450 000.00 | 16 500.00 | 2 310.00 | 900.00 | 34 500.00 | 54 210.00 |
1 500 000.00 | 16 500.00 | 2 310.00 | 900.00 | 37 000.00 | 56 710.00 |
1 500 000.01 | 17 050.00 | 2 387.00 | 900.00 | 37 000.00 | 57 337.00 |
1 550 000.00 | 17 050.00 | 2 387.00 | 900.00 | 41 000.00 | 61 337.00 |
1 600 000.00 | 17 050.00 | 2 387.00 | 900.00 | 45 000.00 | 65 337.00 |
1 600 000.01 | 17 600.00 | 2 464.00 | 900.00 | 45 000.00 | 65 964.00 |
1 650 000.00 | 17 600.00 | 2 464.00 | 900.00 | 49 000.00 | 69 964.00 |
1 700 000.00 | 17 600.00 | 2 464.00 | 900.00 | 53 000.00 | 73 964.00 |
1 700 000.01 | 18 150.00 | 2 541.00 | 900.00 | 53 000.00 | 74 591.00 |
1 750 000.00 | 18 150.00 | 2 541.00 | 900.00 | 57 000.00 | 78 591.00 |
1 800 000.00 | 18 150.00 | 2 541.00 | 900.00 | 61 000.00 | 82 591.00 |
1 800 000.01 | 18 700.00 | 2 618.00 | 900.00 | 61 000.00 | 83 218.00 |
1 850 000.00 | 18 700.00 | 2 618.00 | 900.00 | 65 000.00 | 87 218.00 |
1 900 000.00 | 18 700.00 | 2 618.00 | 900.00 | 69 000.00 | 91 218.00 |
1 900 000.01 | 19 250.00 | 2 695.00 | 900.00 | 69 000.00 | 91 845.00 |
1 950 000.00 | 19 250.00 | 2 695.00 | 900.00 | 73 000.00 | 95 845.00 |
2 000 000.00 | 19 250.00 | 2 695.00 | 900.00 | 77 000.00 | 99 845.00 |
2 000 000.01 | 19 800.00 | 2 772.00 | 1 100.00 | 77 000.00 | 100 672.00 |
2 050 000.00 | 19 800.00 | 2 772.00 | 1 100.00 | 81 000.00 | 104 672.00 |
2 100 000.00 | 19 800.00 | 2 772.00 | 1 100.00 | 85 000.00 | 108 672.00 |
2 100 000.01 | 20 350.00 | 2 849.00 | 1 100.00 | 85 000.00 | 109 299.00 |
2 150 000.00 | 20 350.00 | 2 849.00 | 1 100.00 | 89 000.00 | 113 299.00 |
2 200 000.00 | 20 350.00 | 2 849.00 | 1 100.00 | 93 000.00 | 117 299.00 |
2 200 000.01 | 20 900.00 | 2 926.00 | 1 100.00 | 93 000.00 | 117 926.00 |
2 250 000.00 | 20 900.00 | 2 926.00 | 1 100.00 | 97 000.00 | 121 926.00 |
2 300 000.00 | 20 900.00 | 2 926.00 | 1 100.00 | 101 000.00 | 125 926.00 |
2 300 000.01 | 21 450.00 | 3 003.00 | 1 100.00 | 101 000.00 | 126 553.00 |
2 350 000.00 | 21 450.00 | 3 003.00 | 1 100.00 | 105 000.00 | 130 553.00 |
2 400 000.00 | 21 450.00 | 3 003.00 | 1 100.00 | 109 000.00 | 134 553.00 |
2 400 000.01 | 22 000.00 | 3 080.00 | 1 100.00 | 109 000.00 | 135 180.00 |
2 450 000.00 | 22 000.00 | 3 080.00 | 1 100.00 | 113 000.00 | 139 180.00 |
2 500 000.00 | 22 000.00 | 3 080.00 | 1 100.00 | 117 000.00 | 143 180.00 |
2 500 000.01 | 22 550.00 | 3 157.00 | 1 100.00 | 117 000.00 | 143 807.00 |
2 550 000.00 | 22 550.00 | 3 157.00 | 1 100.00 | 121 000.00 | 147 807.00 |
2 600 000.00 | 22 550.00 | 3 157.00 | 1 100.00 | 125 000.00 | 151 807.00 |
2 600 000.01 | 23 100.00 | 3 234.00 | 1 100.00 | 125 000.00 | 152 434.00 |
2 650 000.00 | 23 100.00 | 3 234.00 | 1 100.00 | 129 000.00 | 156 434.00 |
2 700 000.00 | 23 100.00 | 3 234.00 | 1 100.00 | 133 000.00 | 160 434.00 |
2 700 000.01 | 23 650.00 | 3 311.00 | 1 100.00 | 133 000.00 | 161 061.00 |
2 750 000.00 | 23 650.00 | 3 311.00 | 1 100.00 | 137 000.00 | 165 061.00 |
2 800 000.00 | 23 650.00 | 3 311.00 | 1 100.00 | 141 000.00 | 169 061.00 |
2 800 000.01 | 24 200.00 | 3 388.00 | 1 100.00 | 141 000.00 | 169 688.00 |
2 850 000.00 | 24 200.00 | 3 388.00 | 1 100.00 | 145 000.00 | 173 688.00 |
2 900 000.00 | 24 200.00 | 3 388.00 | 1 100.00 | 149 000.00 | 177 688.00 |
2 900 000.01 | 24 750.00 | 3 465.00 | 1 100.00 | 149 000.00 | 178 315.00 |
2 950 000.00 | 24 750.00 | 3 465.00 | 1 100.00 | 153 000.00 | 182 315.00 |
3 000 000.00 | 24 750.00 | 3 465.00 | 1 100.00 | 157 000.00 | 186 315.00 |
3 100 000.00 | 25 300.00 | 3 542.00 | 1 100.00 | 165 000.00 | 194 942.00 |
3 100 000.01 | 25 850.00 | 3 619.00 | 1 100.00 | 165 000.00 | 195 569.00 |
3 200 000.00 | 25 850.00 | 3 619.00 | 1 100.00 | 173 000.00 | 203 569.00 |
3 200 000.01 | 26 400.00 | 3 696.00 | 1 100.00 | 173 000.00 | 204 196.00 |
3 300 000.00 | 26 400.00 | 3 696.00 | 1 100.00 | 181 000.00 | 212 196.00 |
3 300 000.01 | 26 950.00 | 3 773.00 | 1 100.00 | 181 000.00 | 212 823.00 |
3 400 000.00 | 27 500.00 | 3 850.00 | 1 100.00 | 189 000.00 | 221 450.00 |
3 500 000.00 | 27 500.00 | 3 850.00 | 1 100.00 | 197 000.00 | 229 450.00 |
3 500 000.01 | 28 050.00 | 3 927.00 | 1 100.00 | 197 000.00 | 230 077.00 |
3 600 000.00 | 28 050.00 | 3 927.00 | 1 100.00 | 205 000.00 | 238 077.00 |
3 600 000.01 | 28 600.00 | 4 004.00 | 1 100.00 | 205 000.00 | 238 704.00 |
3 700 000.00 | 28 600.00 | 4 004.00 | 1 100.00 | 213 000.00 | 246 704.00 |
3 700 000.01 | 29 150.00 | 4 081.00 | 1 100.00 | 213 000.00 | 247 331.00 |
3 800 000.00 | 29 150.00 | 4 081.00 | 1 100.00 | 221 000.00 | 255 331.00 |
3 800 000.01 | 29 700.00 | 4 158.00 | 1 100.00 | 221 000.00 | 255 958.00 |
3 900 000.00 | 29 700.00 | 4 158.00 | 1 100.00 | 229 000.00 | 263 958.00 |
3 900 000.01 | 30 250.00 | 4 235.00 | 1 100.00 | 229 000.00 | 264 585.00 |
4 000 000.00 | 30 250.00 | 4 235.00 | 1 100.00 | 237 000.00 | 272 585.00 |
4 000 000.01 | 30 800.00 | 4 312.00 | 1 500.00 | 237 000.00 | 273 612.00 |
4 100 000.00 | 30 800.00 | 4 312.00 | 1 500.00 | 245 000.00 | 281 612.00 |
4 100 000.01 | 31 350.00 | 4 389.00 | 1 500.00 | 245 000.00 | 282 239.00 |
4 200 000.00 | 31 350.00 | 4 389.00 | 1 500.00 | 253 000.00 | 290 239.00 |
4 200 000.01 | 31 900.00 | 4 466.00 | 1 500.00 | 261 000.00 | 298 866.00 |
4 300 000.00 | 31 900.00 | 4 466.00 | 1 500.00 | 261 000.00 | 298 866.00 |
4 300 000.01 | 32 450.00 | 4 543.00 | 1 500.00 | 269 000.00 | 307 493.00 |
4 400 000.00 | 32 450.00 | 4 543.00 | 1 500.00 | 269 000.00 | 307 493.00 |
4 400 000.01 | 33 000.00 | 4 620.00 | 1 500.00 | 269 000.00 | 308 120.00 |
4 500 000.00 | 33 000.00 | 4 620.00 | 1 500.00 | 277 000.00 | 316 120.00 |
4 500 000.01 | 33 550.00 | 4 697.00 | 1 500.00 | 277 000.00 | 316 747.00 |
4 600 000.00 | 33 550.00 | 4 697.00 | 1 500.00 | 285 000.00 | 324 747.00 |
4 600 000.01 | 34 100.00 | 4 774.00 | 1 500.00 | 285 000.00 | 325 374.00 |
4 700 000.00 | 34 100.00 | 4 774.00 | 1 500.00 | 293 000.00 | 333 374.00 |
4 700 000.01 | 34 650.00 | 4 851.00 | 1 500.00 | 293 000.00 | 334 001.00 |
4 800 000.00 | 34 650.00 | 4 851.00 | 1 500.00 | 301 000.00 | 342 001.00 |
4 800 000.01 | 35 200.00 | 4 928.00 | 1 500.00 | 301 000.00 | 342 628.00 |
4 900 000.00 | 35 200.00 | 4 928.00 | 1 500.00 | 309 000.00 | 350 628.00 |
4 900 000.01 | 35 750.00 | 5 005.00 | 1 500.00 | 309 000.00 | 351 255.00 |
5 000 000.00 | 35 750.00 | 5 005.00 | 1 500.00 | 317 000.00 | 359 255.00 |
5 000 000.00 | 36 025.00 | 5 043.50 | 1 500.00 | 317 000.00 | 359 568.50 |
5 100 000.00 | 36 025.00 | 5 043.50 | 1 500.00 | 325 000.00 | 367 568.50 |
5 100 000.01 | 36 300.00 | 5 082.00 | 1 500.00 | 325 000.00 | 367 882.00 |
5 200 000.00 | 36 300.00 | 5 082.00 | 1 500.00 | 333 000.00 | 375 882.00 |
5 200 000.01 | 36 575.00 | 5 120.50 | 1 500.00 | 333 000.00 | 376 195.50 |
5 300 000.00 | 36 575.00 | 5 120.50 | 1 500.00 | 341 000.00 | 384 195.50 |
5 300 000.01 | 36 850.00 | 5 159.00 | 1 500.00 | 341 000.00 | 384 509.00 |
5 400 000.00 | 36 850.00 | 5 159.00 | 1 500.00 | 349 000.00 | 392 509.00 |
5 400 000.01 | 37 125.00 | 5 197.50 | 1 500.00 | 349 000.00 | 392 822.50 |
5 500 000.00 | 37 125.00 | 5 197.50 | 1 500.00 | 357 000.00 | 400 822.50 |
5 500 000.01 | 37 400.00 | 5 236.00 | 1 500.00 | 357 000.00 | 401 136.00 |
5 600 000.00 | 37 400.00 | 5 236.00 | 1 500.00 | 365 000.00 | 409 136.00 |
5 600 000.01 | 37 675.00 | 5 274.50 | 1 500.00 | 365 000.00 | 409 449.50 |
5 700 000.00 | 37 675.00 | 5 274.50 | 1 500.00 | 373 000.00 | 417 449.50 |
5 700 000.01 | 37 950.00 | 5 313.00 | 1 500.00 | 373 000.00 | 417 763.00 |
5 800 000.00 | 37 950.00 | 5 313.00 | 1 500.00 | 381 000.00 | 425 763.00 |
5 800 000.01 | 38 225.00 | 5 351.50 | 1 500.00 | 381 000.00 | 426 076.50 |
5 900 000.00 | 38 225.00 | 5 351.50 | 1 500.00 | 389 000.00 | 434 076.50 |
5 900 000.01 | 38 500.00 | 5 390.00 | 1 500.00 | 389 000.00 | 434 390.00 |
6 000 000.00 | 38 500.00 | 5 390.00 | 1 500.00 | 397 000.00 | 442 390.00 |
6 000 000.01 | 38 775.00 | 5 428.50 | 1 800.00 | 397 000.00 | 443 003.50 |
6 100 000.00 | 38 775.00 | 5 428.50 | 1 800.00 | 405 000.00 | 451 003.50 |
6 100 000.01 | 39 050.00 | 5 467.00 | 1 800.00 | 405 000.00 | 451 317.00 |
6 200 000.00 | 39 050.00 | 5 467.00 | 1 800.00 | 413 000.00 | 459 317.00 |
6 200 000.01 | 39 325.00 | 5 505.50 | 1 800.00 | 413 000.00 | 459 630.50 |
6 300 000.00 | 39 325.00 | 5 505.50 | 1 800.00 | 421 000.00 | 467 630.50 |
6 300 000.01 | 39 600.00 | 5 544.00 | 1 800.00 | 421 000.00 | 467 944.00 |
6 400 000.00 | 39 600.00 | 5 544.00 | 1 800.00 | 429 000.00 | 475 944.00 |
6 400 000.01 | 39 875.00 | 5 582.50 | 1 800.00 | 429 000.00 | 476 257.50 |
6 500 000.00 | 39 875.00 | 5 582.50 | 1 800.00 | 437 000.00 | 484 257.50 |
6 500 000.01 | 40 150.00 | 5 621.00 | 1 800.00 | 437 000.00 | 484 571.00 |
6 600 000.00 | 40 150.00 | 5 621.00 | 1 800.00 | 445 000.00 | 492 571.00 |
6 600 000.01 | 40 425.00 | 5 659.00 | 1 800.00 | 445 000.00 | 492 884.00 |
6 700 000.00 | 40 425.00 | 5 659.00 | 1 800.00 | 453 000.00 | 500 884.00 |
6 700 000.01 | 40 700.00 | 5 698.00 | 1 800.00 | 453 000.00 | 501 198.00 |
6 800 000.00 | 40 700.00 | 5 698.00 | 1 800.00 | 461 000.00 | 509 198.00 |
6 800 000.01 | 40 975.00 | 5 736.50 | 1 800.00 | 461 000.00 | 509 511.50 |
6 900 000.00 | 40 975.00 | 5 736.50 | 1 800.00 | 469 000.00 | 517 511.50 |
6 900 000.01 | 41 250.00 | 5 775.00 | 1 800.00 | 469 000.00 | 517 825.00 |
7 000 000.00 | 41 250.00 | 5 775.00 | 1 800.00 | 477 000.00 | 525 825.00 |
7 000 000.01 | 41 525.00 | 5 813.50 | 1 800.00 | 477 000.00 | 526 138.50 |
7 100 000.00 | 41 525.00 | 5 813.50 | 1 800.00 | 485 000.00 | 534 138.50 |
7 100 000.01 | 41 800.00 | 5 852.00 | 1 800.00 | 485 000.00 | 534 452.00 |
7 200 000.00 | 41 800.00 | 5 852.00 | 1 800.00 | 493 000.00 | 542 452.00 |
7 200 000.01 | 42 075.00 | 5 890.50 | 1 800.00 | 493 000.00 | 542 765.50 |
7 300 000.00 | 42 075.00 | 5 890.50 | 1 800.00 | 501 000.00 | 550 765.50 |
7 300 000.01 | 42 350.00 | 5 929.00 | 1 800.00 | 501 000.00 | 551 079.00 |
7 400 000.00 | 42 350.00 | 5 929.00 | 1 800.00 | 509 000.00 | 559 079.00 |
7 400 000.01 | 42 625.00 | 5 967.50 | 1 800.00 | 509 000.00 | 559 392.50 |
7 500 000.00 | 42 625.00 | 5 967.50 | 1 800.00 | 517 000.00 | 567 392.50 |
7 500 000.01 | 42 900.00 | 6 006.00 | 1 800.00 | 517 000.00 | 567 706.00 |
7 600 000.00 | 42 900.00 | 6 006.00 | 1 800.00 | 525 000.00 | 575 706.00 |
7 600 000.01 | 43 175.00 | 6 044.50 | 1 800.00 | 525 000.00 | 576 019.50 |
7 700 000.00 | 43 175.00 | 6 044.50 | 1 800.00 | 533 000.00 | 584 019.50 |
7 700 000.01 | 43 450.00 | 6 083.00 | 1 800.00 | 533 000.00 | 584 333.00 |
7 800 000.00 | 43 450.00 | 6 083.00 | 1 800.00 | 541 000.00 | 592 333.00 |
7 800 000.01 | 43 725.00 | 6 121.50 | 1 800.00 | 541 000.00 | 592 646.50 |
7 900 000.00 | 43 725.00 | 6 121.50 | 1 800.00 | 549 000.00 | 600 646.50 |
7 900 000.00 | 44 000.00 | 6 160.00 | 1 800.00 | 549 000.00 | 600 960.00 |
8 000 000.00 | 44 000.00 | 6 160.00 | 1 800.00 | 557 000.00 | 608 960.00 |
8 000 000.01 | 44 275.00 | 6 198.50 | 2 100.00 | 557 000.00 | 609 573.50 |
8 100 000.00 | 44 275.00 | 6 198.50 | 2 100.00 | 565 000.00 | 617 573.50 |
8 100 000.01 | 44 550.00 | 6 237.00 | 2 100.00 | 565 000.00 | 617 887.00 |
8 200 000.00 | 44 550.00 | 6 237.00 | 2 100.00 | 573 000.00 | 625 887.00 |
8 200 000.01 | 44 825.00 | 6 275.00 | 2 100.00 | 573 000.00 | 626 200.00 |
8 300 000.00 | 44 825.00 | 6 275.00 | 2 100.00 | 581 000.00 | 634 200.00 |
8 300 000.01 | 45 100.00 | 6 314.00 | 2 100.00 | 581 000.00 | 634 514.00 |
8 400 000.00 | 45 100.00 | 6 314.00 | 2 100.00 | 589 000.00 | 642 514.00 |
8 400 000.01 | 45 375.00 | 6 352.50 | 2 100.00 | 589 000.00 | 642 827.50 |
8 500 000.00 | 45 375.00 | 6 352.50 | 2 100.00 | 597 000.00 | 650 827.50 |
8 500 000.01 | 45 650.00 | 6 391.00 | 2 100.00 | 597 000.00 | 651 141.00 |
8 600 000.00 | 45 650.00 | 6 391.00 | 2 100.00 | 605 000.00 | 659 141.00 |
8 600 000.01 | 45 925.00 | 6 429.50 | 2 100.00 | 605 000.00 | 659 454.50 |
8 700 000.00 | 45 925.00 | 6 429.50 | 2 100.00 | 613 000.00 | 667 454.50 |
8 700 000.01 | 46 200.00 | 6 468.00 | 2 100.00 | 613 000.00 | 667 768.00 |
8 800 000.00 | 46 200.00 | 6 468.00 | 2 100.00 | 621 000.00 | 675 768.00 |
8 800 000.01 | 46 475.00 | 6 506.50 | 2 100.00 | 621 000.00 | 676 081.50 |
8 900 000.00 | 46 475.00 | 6 506.50 | 2 100.00 | 629 000.00 | 684 081.50 |
8 900 000.01 | 46 750.00 | 6 545.00 | 2 100.00 | 629 000.00 | 684 395.00 |
9 000 000.00 | 46 750.00 | 6 545.00 | 2 100.00 | 637 000.00 | 692 395.00 |
9 000 000.01 | 47 025.00 | 6 583.50 | 2 100.00 | 637 000.00 | 692 708.50 |
9 100 000.00 | 47 025.00 | 6 583.50 | 2 100.00 | 645 000.00 | 700 708.50 |
9 100 000.01 | 47 300.00 | 6 622.00 | 2 100.00 | 645 000.00 | 701 022.00 |
9 200 000.00 | 47 300.00 | 6 622.00 | 2 100.00 | 653 000.00 | 709 022.00 |
9 200 000.01 | 47 575.00 | 6 660.50 | 2 100.00 | 653 000.00 | 709 335.50 |
9 300 000.00 | 47 575.00 | 6 660.50 | 2 100.00 | 661 000.00 | 717 335.50 |
9 300 000.01 | 47 850.00 | 6 699.00 | 2 100.00 | 661 000.00 | 717 649.00 |
9 400 000.00 | 47 850.00 | 6 699.00 | 2 100.00 | 669 000.00 | 725 649.00 |
9 400 000.01 | 48 125.00 | 6 737.50 | 2 100.00 | 669 000.00 | 725 962.50 |
9 500 000.00 | 48 125.00 | 6 737.50 | 2 100.00 | 677 000.00 | 733 962.50 |
9 500 000.01 | 48 400.00 | 6 776.00 | 2 100.00 | 677 000.00 | 734 276.00 |
9 600 000.00 | 48 400.00 | 6 776.00 | 2 100.00 | 685 000.00 | 742 276.00 |
9 600 000.01 | 48 675.00 | 6 814.50 | 2 100.00 | 685 000.00 | 742 589.50 |
9 700 000.00 | 48 675.00 | 6 814.50 | 2 100.00 | 693 000.00 | 750 589.50 |
9 700 000.01 | 48 950.00 | 6 853.00 | 2 100.00 | 693 000.00 | 750 903.00 |
9 800 000.00 | 48 950.00 | 6 853.00 | 2 100.00 | 701 000.00 | 758 903.00 |
9 800 000.01 | 49 225.00 | 6 891.50 | 2 100.00 | 701 000.00 | 759 216.50 |
9 900 000.00 | 49 225.00 | 6 891.50 | 2 100.00 | 709 000.00 | 767 216.50 |
9 900 000.01 | 49 500.00 | 6 930.00 | 2 100.00 | 709 000.00 | 767 530.00 |
10 000 000.00 | 49 500.00 | 6 930.00 | 2 100.00 | 717 000.00 | 775 530.00 |
11 000 000.00 | 52 250.00 | 7 315.00 | 2 500.00 | 797 000.00 | 859 065.00 |
12 000 000.00 | 55 000.00 | 7 700.00 | 2 500.00 | 877 000.00 | 942 200.00 |
13 000 000.00 | 57 750.00 | 8 085.00 | 2 500.00 | 957 000.00 | 1 025 335.00 |
14 000 000.00 | 60 500.00 | 8 470.00 | 2 500.00 | 1 037 000.00 | 1 108 470.00 |
15 000 000.00 | 63 250.00 | 8 855.00 | 2 500.00 | 1 117 000.00 | 1 191 605.00 |
16 000 000.00 | 66 000.00 | 9 240.00 | 3 000.00 | 1 197 000.00 | 1 275 240.00 |
17 000 000.00 | 68 750.00 | 9 625.00 | 3 000.00 | 1 277 000.00 | 1 358 375.00 |
18 000 000.00 | 71 500.00 | 10 010.00 | 3 000.00 | 1 357 000.00 | 1 441 510.00 |
19 000 000.00 | 74 250.00 | 10 395.00 | 3 000.00 | 1 437 000.00 | 1 524 645.00 |
20 000 000.00 | 77 000.00 | 10 780.00 | 3 000.00 | 1 517 000.00 | 1 607 780.00 |
25 000 000.00 | 90 750.00 | 12 705.00 | 4 000.00 | 1 917 000.00 | 2 024 455.00 |
30 000 000.00 | 104 500.00 | 14 630.00 | 4 000.00 | 2 317 000.00 | 2 440 130.00 |
The following costs are applicable to our bond services.
80 000.00 | 3 000.00 | 420.00 | 310.00 | 3 730.00 |
100 000.00 | ||||
125 000.00 | 3 120.00 | 436.80 | 310.00 | 3 866.80 |
150 000.00 | 3 240.00 | 453.60 | 310.00 | 4 003.60 |
175 000.00 | 3 480.00 | 487.20 | 350.00 | 4 317.20 |
200 000.00 | 3 600.00 | 504.00 | 350.00 | 4 454.00 |
250 000.00 | 3 960.00 | 554.40 | 350.00 | 4 864.40 |
300 000.00 | 4 440.00 | 621.60 | 350.00 | 5 411.60 |
350 000.00 | 4 920.00 | 688.80 | 500.00 | 6 108.80 |
400 000.00 | 5 520.00 | 772.80 | 500.00 | 6 792.80 |
450 000.00 | 6 000.00 | 840.00 | 500.00 | 7 340.00 |
500 000.00 | 6 480.00 | 907.20 | 500.00 | 7 887.20 |
600 000.00 | 7 440.00 | 1 041.60 | 500.00 | 8 981.60 |
700 000.00 | 8 400.00 | 1 176.00 | 700.00 | 10 276.00 |
800 000.00 | 9 360.00 | 1 310.40 | 700.00 | 11 370.40 |
900 000.00 | 10 320.00 | 1 444.80 | 800.00 | 12 564.80 |
1 000 000.00 | 11 280.00 | 1 579.20 | 800.00 | 13 659.20 |
1 100 000.00 | 11 808.00 | 1 653.12 | 900.00 | 14 361.12 |
1 200 000.00 | 12 336.00 | 1 727.04 | 900.00 | 14 963.04 |
1 300 000.00 | 12 864.00 | 1 800.96 | 900.00 | 15 564.96 |
1 400 000.00 | 13 392.00 | 1 874.88 | 900.00 | 16 166.88 |
1 500 000.00 | 13 920.00 | 1 948.80 | 900.00 | 16 768.80 |
1 600 000.00 | 14 448.00 | 2 022.72 | 900.00 | 17 370.72 |
1 700 000.00 | 14 976.00 | 2 096.64 | 900.00 | 17 972.64 |
1 800 000.00 | 15 504.00 | 2 170.56 | 900.00 | 18 574.56 |
1 900 000.00 | 16 032.00 | 2 244.48 | 900.00 | 19 176.48 |
2 000 000.00 | 16 560.00 | 2 318.40 | 900.00 | 19 778.40 |
2 100 000.00 | 17 088.00 | 2 392.32 | 1 250.00 | 20 730.32 |
2 200 000.00 | 17 616.00 | 2 466.24 | 1 250.00 | 21 332.24 |
2 300 000.00 | 18 144.00 | 2 540.16 | 1 250.00 | 21 934.16 |
2 400 000.00 | 18 672.00 | 2 614.08 | 1 250.00 | 22 536.08 |
2 500 000.00 | 19 200.00 | 2 688.00 | 1 250.00 | 23 138.00 |
2 600 000.00 | 19 728.00 | 2 761.92 | 1 250.00 | 23 739.92 |
2 600 000.01 | 20 256.00 | 2 835.84 | 1 250.00 | 24 341.84 |
2 650 000.00 | 20 256.00 | 2 835.84 | 1 250.00 | 24 341.84 |
2 700 000.00 | 20 256.00 | 2 835.84 | 1 250.00 | 24 341.84 |
2 700 000.01 | 20 784.00 | 2 909.76 | 1 250.00 | 24 943.76 |
2 750 000.00 | 20 784.00 | 2 909.76 | 1 250.00 | 24 943.76 |
2 800 000.00 | 20 784.00 | 2 909.76 | 1 250.00 | 24 943.76 |
2 800 000.01 | 21 312.00 | 2 983.68 | 1 250.00 | 25 545.68 |
2 850 000.00 | 21 312.00 | 2 983.68 | 1 250.00 | 25 545.68 |
2 900 000.00 | 21 312.00 | 2 983.68 | 1 250.00 | 25 545.68 |
2 900 000.01 | 21 840.00 | 3 057.60 | 1 250.00 | 26 147.60 |
2 950 000.00 | 21 840.00 | 3 057.60 | 1 250.00 | 26 147.60 |
3 000 000.00 | 21 840.00 | 3 057.60 | 1 250.00 | 26 147.60 |
3 200 000.00 | 22 368.00 | 3 131.52 | 1 250.00 | 26 749.52 |
3 300 000.00 | 23 424.00 | 3 279.36 | 1 250.00 | 27 953.36 |
3 300 000.01 | 23 952.00 | 3 353.28 | 1 250.00 | 28 555.28 |
3 500 000.00 | 24 480.00 | 3 427.00 | 1 250.00 | 29 157.00 |
3 600 000.00 | 25 008.00 | 3 501.12 | 1 250.00 | 29 759.12 |
3 700 000.00 | 25 536.00 | 3 575.04 | 1 250.00 | 30 361.04 |
3 800 000.00 | 26 064.00 | 3 648.96 | 1 250.00 | 30 962.96 |
3 900 000.00 | 26 592.00 | 3 722.88 | 1 250.00 | 31 564.88 |
4 000 000.00 | 27 120.00 | 3 796.80 | 1 250.00 | 32 166.80 |
4 100 000.00 | 27 648.00 | 3 870.72 | 1 500.00 | 33 018.72 |
4 200 000.00 | 28 176.00 | 3 944.64 | 1 500.00 | 33 620.64 |
4 300 000.00 | 28 704.00 | 4 018.56 | 1 500.00 | 34 222.56 |
4 400 000.00 | 29 232.00 | 4 092.48 | 1 500.00 | 34 824.48 |
4 500 000.00 | 29 760.00 | 4 166.40 | 1 500.00 | 35 426.40 |
4 600 000.00 | 30 288.00 | 4 240.32 | 1 500.00 | 36 028.32 |
4 600 000.01 | 30 816.00 | 4 314.24 | 1 500.00 | 36 630.24 |
4 700 000.00 | 30 816.00 | 4 314.24 | 1 500.00 | 36 630.24 |
4 700 000.01 | 31 344.00 | 4 388.16 | 1 500.00 | 37 232.16 |
4 800 000.00 | 31 344.00 | 4 388.16 | 1 500.00 | 37 232.16 |
4 800 000.01 | 31 872.00 | 4 462.08 | 1 500.00 | 37 834.08 |
4 900 000.00 | 31 872.00 | 4 462.08 | 1 500.00 | 37 834.08 |
4 900 000.01 | 32 400.00 | 4 536.00 | 1 500.00 | 38 436.00 |
5 000 000.00 | 32 400.00 | 4 536.00 | 1 500.00 | 38 436.00 |
5 000 000.01 | 32 664.00 | 4 572.96 | 1 500.00 | 38 736.96 |
5 100 000.00 | 32 664.00 | 4 572.96 | 1 500.00 | 38 736.96 |
5 100 000.01 | 32 928.00 | 4 609.92 | 1 500.00 | 39 037.92 |
5 200 000.01 | 33 192.00 | 4 646.88 | 1 500.00 | 39 338.88 |
5 300 000.01 | 33 456.00 | 4 683.84 | 1 500.00 | 39 639.84 |
5 400 000.01 | 33 720.00 | 4 720.80 | 1 500.00 | 39 940.80 |
5 500 000.01 | 33 984.00 | 4 757.76 | 1 500.00 | 40 241.76 |
5 600 000.01 | 34 248.00 | 4 794.72 | 1 500.00 | 40 542.72 |
5 700 000.01 | 34 512.00 | 4 831.68 | 1 500.00 | 40 843.68 |
5 800 000.01 | 34 776.00 | 4 868.64 | 1 500.00 | 41 144.64 |
5 900 000.01 | 35 040.00 | 4 905.60 | 1 500.00 | 41 445.60 |
6 000 000.01 | 35 304.00 | 4 942.56 | 1 800.00 | 42 046.56 |
6 100 000.01 | 35 568.00 | 4 979.52 | 1 800.00 | 42 347.52 |
6 200 000.01 | 35 832.00 | 5 016.48 | 1 800.00 | 42 648.48 |
6 300 000.01 | 36 096.00 | 5 053.44 | 1 800.00 | 42 949.44 |
6 400 000.01 | 36 360.00 | 5 090.40 | 1 800.00 | 43 250.40 |
6 500 000.01 | 36 624.00 | 5 127.36 | 1 800.00 | 43 551.36 |
6 600 000.01 | 36 888.00 | 5 164.32 | 1 800.00 | 43 852.32 |
6 700 000.01 | 37 152.00 | 5 201.28 | 1 800.00 | 44 153.28 |
6 800 000.01 | 37 416.00 | 5 238.24 | 1 800.00 | 44 454.24 |
6 900 000.01 | 37 680.00 | 5 275.20 | 1 800.00 | 44 755.20 |
7 000 000.01 | 37 944.00 | 5 312.16 | 1 800.00 | 45 056.16 |
7 100 000.01 | 38 208.00 | 5 349.12 | 1 800.00 | 45 357.12 |
7 200 000.01 | 38 472.00 | 5 386.08 | 1 800.00 | 45 658.08 |
7 300 000.01 | 38 736.00 | 5 423.04 | 1 800.00 | 45 959.04 |
7 400 000.01 | 39 000.00 | 5 460.00 | 1 800.00 | 46 260.00 |
7 500 000.01 | 39 264.00 | 5 496.96 | 1 800.00 | 46 560.96 |
7 600 000.01 | 39 528.00 | 5 533.92 | 1 800.00 | 46 861.92 |
7 700 000.01 | 39 792.00 | 5 570.88 | 1 800.00 | 47 162.88 |
7 800 000.01 | 40 056.00 | 5 607.84 | 1 800.00 | 47 463.84 |
7 900 000.00 | 40 056.00 | 5 607.84 | 1 800.00 | 47 463.84 |
7 900 000.01 | 40 320.00 | 5 644.80 | 1 800.00 | 47 764.80 |
8 000 000.00 | 40 320.00 | 5 644.80 | 1 800.00 | 47 764.80 |
8 000 000.01 | 40 584.00 | 5 681.76 | 2 100.00 | 48 365.76 |
8 100 000.00 | 40 584.00 | 5 681.76 | 2 100.00 | 48 365.76 |
8 100 000.01 | 40 848.00 | 5 718.72 | 2 100.00 | 48 666.72 |
8 200 000.00 | 40 848.00 | 5 718.72 | 2 100.00 | 48 666.72 |
8 200 000.01 | 41 112.00 | 5 755.68 | 2 100.00 | 48 967.68 |
8 300 000.00 | 41 112.00 | 5 755.68 | 2 100.00 | 48 967.68 |
8 300 000.01 | 41 376.00 | 5 792.64 | 2 100.00 | 49 268.64 |
8 400 000.00 | 41 376.00 | 5 792.64 | 2 100.00 | 49 268.64 |
8 400 000.01 | 41 640.00 | 5 829.60 | 2 100.00 | 49 569.60 |
8 500 000.00 | 41 640.00 | 5 829.60 | 2 100.00 | 49 569.60 |
8 500 000.01 | 41 904.00 | 5 866.56 | 2 100.00 | 49 870.56 |
8 600 000.00 | 41 904.00 | 5 866.56 | 2 100.00 | 49 870.56 |
8 600 000.01 | 42 168.00 | 5 903.52 | 2 100.00 | 50 171.52 |
8 700 000.00 | 42 168.00 | 5 903.52 | 2 100.00 | 50 171.52 |
8 700 000.01 | 42 432.00 | 5 940.48 | 2 100.00 | 50 472.48 |
8 800 000.00 | 42 432.00 | 5 940.48 | 2 100.00 | 50 472.48 |
8 800 000.01 | 42 696.00 | 5 977.44 | 2 100.00 | 50 773.44 |
8 900 000.00 | 42 696.00 | 5 977.44 | 2 100.00 | 50 773.44 |
8 900 000.01 | 42 960.00 | 6 014.40 | 2 100.00 | 51 074.40 |
9 000 000.00 | 42 960.00 | 6 014.40 | 2 100.00 | 51 074.40 |
9 000 000.01 | 43 224.00 | 6 051.36 | 2 100.00 | 51 375.36 |
9 100 000.00 | 43 224.00 | 6 051.36 | 2 100.00 | 51 375.36 |
9 100 000.01 | 43 488.00 | 6 088.32 | 2 100.00 | 51 676.32 |
9 200 000.00 | 43 488.00 | 6 088.32 | 2 100.00 | 51 676.32 |
9 300 000.00 | 43 752.00 | 6 125.28 | 2 100.00 | 51 977.28 |
9 400 000.00 | 44 016.00 | 6 162.24 | 2 100.00 | 52 278.24 |
9 500 000.00 | 44 280.00 | 6 199.20 | 2 100.00 | 52 579.20 |
9 600 000.00 | 44 544.00 | 6 236.16 | 2 100.00 | 52 880.16 |
9 700 000.00 | 44 808.00 | 6 273.12 | 2 100.00 | 53 181.12 |
9 800 000.00 | 45 072.00 | 6 310.08 | 2 100.00 | 53 482.08 |
9 900 000.00 | 45 336.00 | 6 347.04 | 2 100.00 | 53 783.04 |
10 000 000.00 | 45 600.00 | 6 384.00 | 2 100.00 | 54 084.00 |
11 000 000.00 | 48 240.00 | 6 753.00 | 2 500.00 | 57 493.00 |
12 000 000.00 | 50 880.00 | 7 123.00 | 2 500.00 | 60 503.00 |
13 000 000.00 | 53 520.00 | 7 492.80 | 2 500.00 | 63 512.80 |
14 000 000.00 | 56 160.00 | 7 862.40 | 2 500.00 | 66 522.40 |
15 000 000.00 | 58 800.00 | 8 232.00 | 2 500.00 | 69 532.00 |
16 000 000.00 | 61 440.00 | 8 601.60 | 3 000.00 | 73 041.60 |
17 000 000.00 | 64 080.00 | 8 971.20 | 3 000.00 | 76 051.20 |
18 000 000.00 | 66 720.00 | 9 340.80 | 3 000.00 | 79 060.80 |
19 000 000.00 | 69 360.00 | 9 710.40 | 3 000.00 | 82 070.40 |
20 000 000.00 | 72 000.00 | 10 080.00 | 3 000.00 | 85 080.00 |
25 000 000.00 | 85 200.00 | 11 928.00 | 3 500.00 | 100 628.00 |
30 000 000.00 | 98 400.00 | 13 776.00 | 3 500.00 | 115 676.00 |
The Antenuptial Contract:
Most people feel a range of discomfort when contemplating Antenuptial Contracts before entering into a marriage, as taking a divorce into account before tying the knot seems a little distasteful. The reality is, however, that it isn’t only divorce for which the contract has implications. It affects your married life as well.
The default – in community of property:
If you don’t draw up an antenuptial agreement in Benin Republic, then your marriage automatically defaults to ‘in community of property’, and the State assumed that all assets and liabilities will be shared – ‘everything which is mine is yours, and vice versa’. This may sound more in keeping with the idea of why you enter marriage, but take a closer look at the implications:
Cons
Pros
What is an antenuptial contract?
An antenuptual contract or ANC means that you are married out of community of property.
The accrual system also plays a pivotal role. First introduced to protect women who may have earned less than their partners while married, it protects any party today who, for whatever reason, stays at home or works part-time.
There are thus two types of antenuptial contract:
If the accrual is not expressly excluded in the ANC, then it applies automatically. With both contracts, assets and debts are separate at the time of entering into marriage.
ANC without accrual:
Any assets acquired both before or during the marriage remains separate throughout the course of the partnership. Assets are not shared, and each party has a separate estate.
Pros
Cons
In the event of death or divorce, you are entitled only to those assets which have been accrued in your name. Should one of you choose to stay at home for any reason, that partner would not be entitled to the assets accumulated by the other party. This is most beneficial to those parties who have accumulated substation assets prior to the marriage, and wish to protect them.
ANC with accrual:
Each partner states the value of their respective assets at the start of the marriage, and any assets acquired thereafter are shared equally. One can state that specific assets are to be excluded from the accrual, such as inheritances, donations, etc.
Pros
The Memorandum of Incorporation ("the MOI")
Under the new Act, incorporating a new company requires a notice of incorporation to be filed with the Commission (previously the Registrar of Companies), accompanied by an MOI signed by the incorporators of that company. An existing company's memorandum and articles of association will automatically form its MOI.
During the transitional period
On the effective date, existing companies will be assumed to have amended their MOI (which will consist of the memorandum and articles of association in place at that stage) to comply with the new Act's name requirements (for example section 21 companies will automatically become non-profit companies). Existing companies will be given a two-year period after the new Act comes into force ("transitional period") to amend their MOI in order to bring it in line with the new Act's requirements.
During this transitional period the following will apply if any conflicts arise:
If there is a conflict between the provisions of a pre-existing company's MOI and the new Act, the MOI will prevail except in the following circumstances;
• directors duties, conduct and liability;
• shareholders' rights to receive notice or have access to any information;
• directors' and shareholders' meetings and adoption of resolutions;
• fundamental transactions, take-overs and offers, except to the extent that it is exempted in terms of Chapter 5 of the new Act.
The Bill in addition proposes the following arrangements for the transitional period:
If there is a conflict between a binding provision adopted by a company and a provision of the new Act, the binding provision will prevail. If there is a conflict between a provision in a shareholders' agreement and a provision in the new Act or the company's MOI, the shareholders' agreement will prevail (except to the extent that the shareholders' agreement or the MOI provides otherwise).
After the transitional period
After the two-year transitional period granted by the new Act has expired, any provision of the MOI that conflicts with the provisions of the new Act will be void to the extent of that inconsistency. The Bill however, proposes exceptions to this rule where the provisions of the MOI will not be rendered void for inconsistency, such as when public regulations or listing requirements require the MOI to contain provisions that are not in harmony with the unalterable provisions prescribed by the new Act. In any case, the entire content of the MOI will not be rendered void until a court has declared it to be so, giving shareholders an opportunity to review and amend the MOI.
Alterable and Unalterable provisions
The new Act distinguishes between alterable and unalterable provisions. Companies will not be allowed to alter the substance or effect of unalterable provisions in their MOI or in the company rules. On the other hand, an alterable provision is a provision that may be altered in the company's MOI. For example, a special resolution will require the support of seventy-five percent of the voting rights exercised under that resolution, but a company may lower the percentage required to approve a special resolution in its MOI, provided that the margin between the percentage required to approve a special resolution and an ordinary resolution is always ten percent. It should be noted that the Bill proposes to amend the new Act such that the percentage for a special resolution may be not only be decreased but also increased in the MOI within the parameters set out in the new Act.
Change of Name
In terms of the new Act, the name of a company is required to contain specific expressions. For example, a non-profit company should include the letters "NPC" in its name. Private and public companies will still use the expressions "(Pty) Ltd" and "Ltd" respectively. Existing companies that fall within the definition of non-profit, personal liability and state-owned companies will be assumed to have amended their MOI and their name so as to include the required expressions. However, for other companies, such as companies limited by guarantee electing to become profit companies, it will be necessary to alter the company name to meet the new Act's requirements.
Company Rules
If allowed by its MOI, the board can make rules concerning the governance of a company with regard to matters that are not addressed in the new Act or the company's MOI. The general meeting would have to ratify the rules by an ordinary resolution in order for them to become permanently binding. The rules provide a greater degree of flexibility for companies as it may be easier to create or amend a rule than to amend the MOI (an amendment to the MOI usually requires a special resolution to be passed). When amending or adding a rule, the company is required to file a copy of the amended rules with the Commission.
If an existing company has any binding provisions that fulfil the same purpose as the rules under the new Act, these provisions will continue to be effective as rules during the transitional period. These rules will remain binding after the transitional period, provided that they are consistent with the new Act.
Shareholders' Agreements
Unlike the current practice where a shareholders' agreement signed by all the shareholders will prevail over the Articles of Association, in terms of the new Act, if there is any inconsistency between the provisions of the shareholders' agreement and the MOI, the shareholders' agreement will be void to the extent of that inconsistency.
The new Act will give shareholders a two-year transitional period to bring shareholders' agreements in line with the provisions of the new Act. Provisions in the shareholders' agreement will be void to the extent that they are inconsistent with the new Act. For example, a typical shareholders' agreement may contain a clause to the effect that the company shall not perform certain acts, such as issuing shares, without the prior written approval of the shareholders or without a special resolution being passed. Under the new Act, the board of directors' authorisation is sufficient for an ordinary issue of shares, meaning that any provisions to the contrary in a shareholders' agreement may be void. Similarly, under the new Act if a company gives notice that it is intending to sell the majority of its assets, minority shareholders have the right to force a buyback of their shares at fair value. Therefore, if there are any provisions to the contrary in a shareholders' agreement, those provisions will be void. Thereafter,
Share Capital
Currently, if companies have par value shares, it means that the fixed value and amount of issued shares is indicated in the memorandum of association. In the case of companies with no par value shares, the memorandum of association only indicates the amount of issued shares as these shares do not have a fixed value. A major change introduced by the new Act, is that a share will no longer have a fixed or nominal value (‘par value shares'), but will be fixed in number only (‘no par value shares').
Although ultimately the transition to no par value shares will have to be made, in the interim, par value shares already issued by companies will continue to carry the par value assigned to them. This state of affairs will continue until such time as the Minister makes regulations providing for the conversion of par value shares into no par value shares. The new Act further specifies that any regulations made by the Minister must preserve the rights of holders of par value shares or provide for the company to compensate holders of par value shares for the loss of their rights. Until such time as the Minister publishes the abovementioned regulations, it is unclear how this potentially problematic transition is to occur and it is therefore recommended that directors pay special attention to any developments in this regard.
Essential Special Resolutions
The new Act requires a special resolution to be passed in circumstances where a special resolution is not currently required. For example, remuneration for directors' services may only be paid in accordance with a special resolution approved by the shareholders within the past two years, which is not a requirement under the current Act. The Bill confirms that a special resolution is required before payment of directors' remuneration.
The current Act does not require shareholders to approve remuneration for directors' services, let alone require that such approval be obtained two years in advance. Even though it is common for standard articles of association, to require that directors' remuneration be determined by the company in a general meeting from time to time, this only requires the passing of an ordinary resolution. This is a far less onerous requirement than that contained in the new Act. However, it can be argued that the new Act's requirement relates only to remuneration for services as a director (non-executive directors) and not to remuneration for services as an employee (executive directors).
Audit Requirements
The new Act only requires public companies, state-owned companies and certain other categories of companies to audit their annual financial statements. Under the new Act, certain companies, such as private companies, non-profit companies and personal liability companies are no longer required to have their annual financial statements audited, unless the company's MOI provides otherwise. In terms of the Draft Regulations issued by the Minister in 2009 ("the Regulations"), these companies must, in certain circumstances, have their annual financial statements independently compiled and reported; alternately, any such company may have its financial statements reviewed by an independent accounting professional. The Close Corporation Act does not require a close corporation to have its financial statements audited and this state of affairs will continue under the new Act. Those close corporations that choose to convert to a company in terms of the new Act will only be obliged to conduct an audit if they fall into any of the abovementioned categories of companies.
It goes without saying that an independent review allows a company to save on audit fees and places a lesser administrative burden on a company. It remains to be seen whether, in light of the provisions of the new Act, financial institutions will still require audited financial statements to be submitted before a loan is granted and whether circumstances will still exist where a company will be required to present its audit history
Trading under insolvent circumstances
Under the current Act, a director that carries on business recklessly will be personally liable for the debts of the company. The new Act, however, goes one step further and prohibits a company from trading under insolvent circumstances, even if this would not in the circumstances be considered reckless. Insolvent circumstances are circumstances where the assets of a company or the consolidated assets of a holding company, as fairly valued, equal or exceed the liabilities of the company or the consolidated liabilities of the holding company, as fairly valued. Directors who continue to trade in insolvent circumstances will be guilty of an offence and liable for significant penalties, including a sentence of up to ten years.
This is problematic as this provision does not allow for actions taken by a company to address its insolvency, such as obtaining a subordination agreement. Furthermore, it could create a problem for small companies where trading while factually insolvent is not unusual. As this provision stands at present, this means that a company with temporary cash flow problems resulting in its liabilities temporarily exceeding or even being equal to its assets will be unable to trade. The Bill contains no amendments to deal with this problem of commercial insolvency. In the future, the courts may interpret this provision to avoid such consequences but directors should, until then, be wary of the implications of trading when the company is factually insolvent.
Business Rescue
The new Act provides for business rescue as an alternative to liquidation and a replacement for the process of judicial management. Business rescue is aimed at rehabilitating companies that are financially distressed. During business rescue the company and the management of its affairs and assets are placed under the temporary supervision of a business rescue practitioner, a temporary moratorium is placed on creditors' claims against the company and its property, and a business rescue plan is developed and implemented to rescue the company by restructuring its affairs.
Provisions causing concern
Although it seems to serve a valuable purpose, the business rescue process as set out in the new Act has been subjected to a great deal of criticism. A major concern is that this process can be invoked too lightly. In order to implement the business rescue process all that is required is for the board to pass a resolution, without giving prior notice to employees, shareholders or creditors, if the board has reasonable grounds for believing that the necessary criteria have been met. Objectively such criteria might not be met. It is therefore suggested that the board obtains sufficient input from both within the company and from external advisers, if necessary, to make a well-informed decision.
Business rescue places a moratorium on all legal proceedings against the company, unless conducted with the business rescue practitioner’s consent, leave of the court or in other circumstances. This means that creditors (for example lessors and financial institutions holding suretyships and guarantees) will have difficulty enforcing their claims during the business rescue process.
The new Act allows the business rescue practitioner to suspend or cancel parts of or whole agreements to which the company is a party. This essentially allows the business rescue practitioner to ‘cherry-pick' the agreements and the provisions of these agreements to which the company will continue to be bound. The other party to an agreement that has been suspended or cancelled will only have recourse to a claim for damages, which restricts the contractual remedies that would have otherwise been available in terms of the common law. This provision may necessitate companies entering into contracts in such a way that their dealings are structured so as to minimise their risk.
In light of the commercial impracticalities in the abovementioned provision, the Bill attempts to afford other parties to agreements with a company subject to business rescue proceedings, greater protection. The proposed amendments provide that the business rescue practitioner's power to cancel agreements in whole, part or conditionally subject to an urgent court application where it will have to be shown that the cancellation is on terms that are just and reasonable in the circumstances. The proposed amendments make it clear that the business rescue practitioner will only be able to suspend the company's obligations for the duration of the business rescue proceedings. The Bill also lists certain contracts, such as employment contracts, which the business rescue practitioner will not be able to suspend, and confirms the protection afforded to parties to contracts relating to security granted by the company in relation to a disposal of property.
Effect on Directors
Directors will continue to exercise directors' functions subject to the business rescue practitioner's authority. Directors will have a duty to the company to exercise a management function in accordance with the business practitioner's instructions, insofar as far as it is reasonable to do so. Directors will still be bound by the provisions regulating disclosure of directors' personal financial interests. Save for certain key fiduciary duties, the new Act relieves directors from other fiduciary duties such as the duty of care and skill during business rescue proceedings, and places such duties on the business rescue practitioner instead.
Access to company information
Even though the new Act aims to provide for increased transparency of companies and company information, the Regulations place a more onerous burden on individuals or companies seeking access to company information. The Regulations state that any right to information as set out in the new Act must be exercised in accordance with the Promotion of Access to Information Act ("PAIA"). The consequence of this is that in order to exercise its rights, an individual or company must follow the procedure set out in PAIA by delivering a request for access to information form and any further documentation required in terms of PAIA, to the company from which information is required. It is hoped that this regulation will be amended before the Regulations are promulgated.
Solvency and Liquidity Test
Under the new Act, a company must pass the solvency and liquidity test in certain circumstances, for example, when the board wishes to approve a distribution of profits. The Regulations stipulate that where this test refers to "aggregate assets" and "aggregate liabilities", the assets of each subsidiary should exceed that subsidiary's liabilities. The Bill, however, proposes to delete the reference to "aggregate" assets and liabilities and instead proposes that when applying this test to a holding company of a group of companies, the consolidated assets of the company, fairly valued, must equal or exceed the consolidated liabilities of the company, fairly valued. This seems to indicate that the legislature has chosen to remove the onerous test for companies that are part of a group structure proposed in the Regulations.
Although the Bill appears to clarify certain ambiguities in the new Act, many aspects remain uncertain, impractical and potentially problematic. Nevertheless, the Department of Trade and Industry remains adamant that the new Act, subject to amendment by the Bill, will become effective in October 2010. In due course, any ambiguities in the legislation will no doubt be solved either through further amendment by the legislature or interpretation by the courts, but it should be remembered that insofar as the new Act does not extend to a certain situation, then the principles of the common law will still apply.
This article has attempted to provide directors with a snapshot of some key issues to be mindful of when the new Act comes into force. However, it would be prudent for directors to check with the company's legal advisors before taking board decisions in respect of any of the above matters.
Directors would be well advised to review their memorandum and articles of association in anticipation of the commencement of the new Act and to file any required amendments to the MOI with the Commission during the transitional period. It would also be useful for directors to consider the alterable provisions in the new Act and where they wish to amend these provisions, to do so in the MOI. Furthermore, directors should commence a review of the company's shareholders' agreement in order to ensure that it complies with the new Act and the company's MOI. Hopefully, by taking such steps and bearing in mind the issues highlighted above, directors can ease their companies though the transition into compliance with the new Act.
One of the most important decisions to be made by a prospective proprietor is choosing the appropriate legal entity for the business. This decision must be based on considerations regarding the characteristics of each type of business, as well as the advantages and disadvantages stemming from statutory regulations and the common law.
Persons who already are in business may find that the particular type of business is not suitable and may therefore have to make the same decision.
There are various types of business entities to choose from and each one has different legal and tax implications for owners and managers. The business types mostly used in Benin Republic are:
- Sole Traders;
- Partnerships;
- Close Corporations;
- Companies;
- Business Trusts and
- Share Blocks
PROFESSIONAL ASSISTANCE
The key to success in business is timely proactive planning of all aspects. The modern legal and business environment is particularly complex and contains many pitfalls that even a small business should not ignore. If the entrepreneur does not
have the necessary skills and knowledge he/she should consult
with:
- An attorney regarding legal aspects and formalities;
- An auditor regarding the accounting system;
- A bank manager regarding a cheque account and other facilities. In the scope of this brochure only the different types of business entities can be dealt with. A thorough consultation with experts is necessary to discuss your unique situation.
COMPARISON OF THE TYPES OF BUSINESS ENTITIES
Factors which influence the choice of business undertakings:
- Legislation: Does legislation prescribe a specific type of entity?;
Quantity and choice of participants;
Participation in management;
- Independence: Does the business need a separate legal persona or not?;
- Liability of participants;
- Formalities and costs of setting up, operating and winding up of business;
- Tax liability and
- Profit motive.
THE SOLE TRADER
This is the most common form of business for the small businessman. The sole trader owns the business, has sole claim
to the profits but also bears the risks connected to the business solely. There is no distinction between private and business property. The creditworthiness of the sole trader is linked to the
creditworthiness of its owner. The income of the business is taxed on the normal scale applicable to individuals. This business entity can be set up and ended without many legal requirements and is very flexible.
THE PARTNERSHIP
A partnership is an extension of the sole trader in that there is more than one owner. A partnership can be described as the teaming up of two or more people but not more than twenty, who are contractually bound to the running of a joint business with a profit motive to which each partner brings assets, services or money into a joint fund and the yield is divided among the partners.
Partnerships have the following characteristics, advantages and
disadvantages:
- There must be a profit motive;
- A contractual relationship exists between the partners - this can be written or oral;
- The partnership does not have a separate legal persona independent of the partners;
- The partnership dissolves upon the death or sequestration of one of its partners and
- Profits generated vests in the partners personally and individually and the partners are personally taxed on such profits of the business.
THE CLOSE CORPORATION (CC)
The CC is a simple, inexpensive and flexible small business entity. It consists of a few members and yet has a separate legal persona and therefore has many advantages.
The main advantages of a CC are: -
- Simplicity of decision-making structures;
- Simplicity of management;
- Members have personal liability only in exceptional circumstances;
- The acquisition and transfer of shares are simple and not subject to stamp duty and
- Financial statements need not be submitted to the Registrar of Close Corporations on a regular basis.
The main disadvantages of a CC are:
- Each member represents the CC and can act on behalf of the CC; this creates a risk for the members;
- The simplicity creates opportunities for fraud and irregularities.
THE COMPANY
The most important characteristic of a Company is that the shareholders cannot lose more than the value of their contributions to the share capital. This is called “limited liability”.
Other advantages are:
- The company has a structured framework;
- The company has a separate legal persona and thus exists independently from the members and
- The assets of the company belong to the company.
TYPES OF COMPANIES
The main types of companies are:
- Companies without share capital;
- Companies with share capital - these can be divided into Private and Public Companies;
- Share Block Schemes and
- Incorporated Companies.
The differences between Public and Private Companies are:
- A private company must have at least 1 director and a public company at least 2 directors.
- A private company must have at least 1 member with a maximum of 50 members;
- A public company must have at least 7 members with an unlimited maximum members;
- The rights of a member of a private company to transfer shares are limited;
- The shares of a public company are however freely transferable to the general public as they are noted and traded on the Stock Exchange.
SHARE BLOCKS
The Share Blocks Control Act 59 of 1980 controls share blocks. A share block consists of a number of shares in a private company, which grants the shareholder the right to a specific part of a building to be owned or leased. The terms by which this right of occupation is granted, are regulated by the constitution of the company or by a right-of-use-agreement between the company and the shareholder.
INCORPORATED COMPANIES
These companies are incorporated in terms of Section 53 (b) of the Companies Act. These are special types of private companies with unlimited joint and separate liability of directors. They are mainly aimed at the needs of professions such as doctors, lawyers and engineers.
BUSINESS TRUSTS
The trust is a versatile legal persona that can be utilized for a variety of purposes. In a business trust the trustees do not only protect and manage the trust assets, but also use it to conduct business in order to make profits to the advantage of the trust’s beneficiaries or for the advancement of trust aims.
The Transfer Procedure
The main steps followed by a Conveyancer when transferring property are the following:
1. Deeds Office computer printouts with details of the Property, Seller and Purchaser are obtained directly from the Registrar’s office via internet.
2. Proof of identity, residence, marital status and company documents are requested and obtained.
3. The existing bondholder is requested to supply the Conveyancer with the title deed and cancellation figures.
4. If so stipulated in the Agreement of Sale, the Purchaser pays a deposit in the Conveyancer’s trust account. This money is invested for the Purchaser’s benefit in an interest bearing account until date of registration. We have negotiated very competitive interest rates with the banks, please ask your Conveyancer for a quotation.
5. Application is made to the Municipality for the outstanding annual rates which are to be paid up in advance, before they will issue a rates clearance certificate.
6. In the case of Sectional Title units, the Managing Agent of the Body Corporate is requested to supply the levy figures and any outstanding levies have to be paid to obtain a levy clearance certificate.
7. Where a Home Owners Association is established, consent to transfer has to be obtained from the HOA and all outstanding levies have to be paid up to date.
8. Transfer documents are drafted. Appointments are made with both Purchaser and Seller for signature of documents. The Purchaser makes payment of all outstanding fees.
9. Payment and documents are submitted to Municipality and rates certificate obtained.
10. Payment and documents are submitted to SARS, either manually or electronically and receipt obtained.
11. When Seller’s Title Deed and cancellation figures are received, the new Deed of Transfer is drawn and sent to Bond Attorneys together with the guarantee requirements.
12. Upon receipt from the bond attorneys, the original Bank Guarantee to effect payment on the outstanding bond amount is sent to cancellation attorneys.
13. When all documents are obtained and signed, simultaneous lodgement of documents in the Deeds Office is arranged between the transferring attorneys, bond attorneys and cancellation attorneys.
14. After about 10–14 working days in the Deeds Office, the Title Deed reflecting the new Purchaser’s name is signed by the Registrar of Deeds and duly registered in the Deeds Office.
15. The Title Deed will be released by the Deeds Office within 2-3 months after date of registration and sent to the Conveyancer. If there was a Bond registered, the Title Deed is sent to the bondholder for safekeeping, if not, the Title Deed is sent to the Purchaser.
Important Information when Buying or Selling Property
1. In the case where there is a mortgage bond registered over the property, the Seller must notify the bank in writing at least 3 months prior to date of registration to avoid paying penalty interest.
2. Once the Conveyancer has applied to the Seller’s financial institution to issue a bond cancellation instruction for the existing bond, the Seller may no longer be able to access funds from the bond and will be required to continue making bond repayments until registration.
3. The Purchaser will be required to pay transfer duty as early as approximately 6 weeks prior to registration. Speak to your Conveyancer as soon as possible after signing the Agreement of Sale to determine on what date payment of transfer duty is required and to discuss bridging finance, should this be necessary.
4. Please ensure that your tax affairs are up to date as any unresolved issues with SARS could delay transfer.
5. If a mortgage bond is not approved before the due date, ask your Conveyancer to draft an Addendum should you wish to extend the date.
6. All Sellers should be aware that in most cases there will be Capital Gains Tax implications. Please ask us to recommend a tax expert in this regard.
7. Once rates clearance figures have been applied for, the Seller should not make any further payments directly to the local authority. Payments should only be made directly to the Conveyancer on the Conveyancer’s request.
When to pay transfer duty vs VAT
Tax is an unavoidable part of buying a property and either transfer duty or VAT is payable on every transfer.
But many people remain confused as to which one is applicable. Much depends on whether the seller is registered for VAT, which is payable at 14% of the purchase price. And if the seller is a registered VAT vendor then VAT is payable. The VAT status of the Purchaser is irrelevant except if he or she is registered for VAT and can claim it back. If the Seller is not a registered Vat vendor, transfer duty is payable.
The rate of transfer duty depends on the identity of the purchaser. If the purchaser is a legal entity (company or close corporation) then transfer duty is calculated at 8% of the fair market value which is usually equivalent to the purchase price. Trusts also pay transfer duty at 8% on the fair market value of the immovable property being transferred.
The following Transfer duty rates are applicable to properties acquired on or after 23 February 2011, and apply to all persons (including Companies, Close Corporations and Trusts):
Divorce is the termination of a marital union, the cancelling of the legal duties and responsibilities of marriage.
Divorce procedures in Benin Republic are much like they are anywhere else. There are only two grounds for divorce:
Irretrievable Breakdown
This means the couple can no longer live together as husband and wife. Both partners, or one partner, must prove to the court that the marriage broke down so badly that there is no reasonable chance of getting back together.
Mental illness or unconsciousness
The person wanting the divorce must show the court that the other spouse was admitted to or detained in a mental institution. The person must also show that the spouse has been in the institution for at least 2 years and that the doctors do not think he or she can be cured.
A person can also get a divorce if the other spouse is permanently unconscious. The spouse must have been unconscious for at least 6 months, and the doctor must see no hope of recovery.
Two types of divorces
Uncontested Divorce
The uncontested divorce is much faster than the contested divorce. Usually all the parties concerned have already spent time and effort to arrive at an agreement on most or all of the issues. We can then proceed to promptly finalise the matter.
Only one of the spouses hires an attorney to deal with their divorce matter – that attorney cannot represent both parties in an uncontested divorce. The attorney drafts and files all the required information – Combined Summons and Settlement Agreement, etc. and the other uncontesting spouse reads and signs the Agreement.
If the uncontested divorce involves minor children, then an endorsement of the Settlement Agreement from the Offices of the Family Advocate will be required as part of the necessary documentation. This entails meetings with the appointed Family Advocate who not only speaks with the divorcing parties and the minor children together as a group, but also has private discussions with each family member – ages of the minor children permitting.
Contested Divorce
When the parties concerned are not able to reach an agreement, it is regarded as a contested divorce. Although the majority of these types of divorce become settled before they end up in Court, the proceedings usually last more than six months and sometimes can take up to 3 years before finalisation.
Divorce has been classified as the second most traumatic experience that an individual can go through after death of a loved one. This makes it very important to choose sensitive and understanding lawyers and attorneys to take you through the divorce procedure. But while sensitivity in your divorce lawyer is very important, you also need to have the peace of mind that they will have the knowledge and experience to fight your legal battles throughout the divorce procedure no matter how hairy the situation may get.
A trust document is a contract, and like any other contract, the wording must be precise and special care should be taken before signing it off. To optimise the structure and secure all the benefits bestowed by a trust, it is generally best to consult a trust specialist.
The first thing to consider is the reasons you have for wanting to set up a trust. These reasons must be methodically set down and explained. At the same time, thought should be given to the current state of legislation and regulatory trends to ensure that the document reflects both the letter and spirit of trust law.
A crude example would be avoiding including a statement in your trust that its sole purpose is tax avoidance. By including statements such as this, you will end up creating a trust that is open to challenge and fails to meet critical legislative tests on the validity of trust structures.
A large number of trust documents have been drafted with insufficient regard for their ability to withstand later challenge. In many cases assets that are assumed to be safely lodged within a trust are then deemed to be part of an estate simply because of injudicious wording. While intentions have to be clear, it is equally important not to set them down in a way that is too dogmatic or prescriptive.
Remember, circumstances change over time and the ability to be flexible is called for. It is also advisable to insert an amendment clause, setting down the circumstances in which the founding articles may be revised or updated, and to ensure that your trust is properly aligned to your will. The client's will should set out what bequests have to be made and to whom.
Planning around key events is also necessary; for example, the death at some stage of the key trustees and any capital gains tax implications. A loan account is also normally set up to repay the capital initially vested in the trust by the founder. Once approved, the trust documentation must be sent to the Master of the High Court for registration, which takes five to 14 working days.
Services to the General Public
Everybody should have a Last Will and Testament. Even if you have nothing right now, the time will surely come when you will accumulate assets. If you die without a will, your assets will be dealt with according to what is called intestate succession irrespective of what you might have wanted to happen to your assets.
In your will you can appoint someone to deal with your assets according to your instructions. You do not have to refer to each asset separately in your will. This means that you do not have to wait to accumulate assets before drawing your will. You can draw it right now and refer to your assets in general terms e.g. you can say that you want to leave "my entire estate of whatsoever nature to my children /parents/brothers/sisters in equal shares". You can change your will as often as you like and should review it whenever your circumstances change.
Seven steps in compiling a testament
Appoint an executor
This person will ensure that your last wishes in your testament will be fulfilled. You can nominate your spouse, your adult son or daughter, your lawyer or auditor or even your bank or trust company.
Appoint a guardian
If you have minor children, it is of the utmost importance that you plan for their care. Your testament gives you the opportunity to appoint someone for the loving care of your children in case of your death.
Compile a list of assets and liabilities
Make a complete list of everything you own as well as all your short- and long-term debt. Your assets include fixed property, personal belongings, vehicles, life policies and savings. Your liabilities include house bonds, bank loans or unpaid taxes.
Appoint your heir
Make provision for your heir to receive the inheritance before any other bequests are paid out.
Consider friends, churches, educational- and charity organisations
You might decide to leave an amount or specific item to a loyal friend, a faithful worker, your favourite charity organisation or educational institution. Make sure that you are in possession of the person’s or institution’s correct name and address for inclusion in your testament.
Instructions regarding your burial/cremation must be set out clearly
If it is your wish to donate your organs, include this in your testament, inform your family members, and doctor about your decision.
Consult your lawyer
It is also advisable to consult your lawyer regarding the compilation of your testament.
Importance of a testament
Whether you are considering a bequest to the UFS or not, it is of the utmost importance that you have a valid testament.
If you die intestate (without a valid testament), the Master of the Supreme Court will appoint an executor to handle your estate, in accordance with the rules for intestate hereditary succession. This ruling, in most cases, will not agree with your last wishes or the needs of your family members. A valid testament needs to comply with the following requirements:
• The testament has to be in written format
• The testament must be signed in the presence of two witnesses
• Verbal wishes have no legal influence or consequence
Remember that your testament should be reviewed on a regular basis and updated in order to consider new legal developments. This includes amongst others the inclusion of capital gains tax, which means that the capital gains tax and estate duty are payable after a person’s death.
Changes in your personal life, like divorce, remarriage, death of the executor or the inheritance of certain possessions that are no longer in your possession can lead to your testament being declared null and void.
For these reasons, it is important to review your testament regularly to ensure that it is correct and a reflection of your wishes.
What Does the Executor of the Estate Do?
The executor of an estate, also referred to as the personal representative of the estate, is chosen by the testator or creator of the last will and testament. The chosen individual is responsible for a wide number of services for which he is typically paid a fee or given a bequest in lieu of a fee. If a fee is involved, it is typically determined by the laws of the state of residence of the testator, the testator’s decision, or a decision made by the beneficiaries of the estate. The services that the executor must perform will involve both the assets and the debts of the estate. The responsibilities of the executor are serious and time consuming in many cases. This selection should be given a great deal of thought since the best interests of the heirs should be protected.
If the testator is using an estate planner or an estate planning attorney, together they should be able to determine the proper candidate for the job. In addition to filing each of the required documents with the appropriate probate court in a reasonable timeframe, the personal representative of the estate must also complete several other tasks, each of which is explained below.
Services Related to the Assets of the Estate
The executor must determine what the assets of the estate are. He is also responsible for protecting the assets until probate has been completed. In some cases, he might be responsible to invest the assets of the estate until that time when they will be dispersed among the beneficiaries of the estate. He is also responsible for distributing the estate assets to those who are to receive them.
The values of all assets including real estate and business interests that will be subject to probate must be determined. Therefore, the personal representative must obtain appraisals of each item. This is often referred to as obtaining the date-of-death values.
The date-of-death values of any non-probate items must also be determined if the estate is taxable. This will include any business interests or real estate.
Services Related to the Debts of the Estate
The executor is required to determine what debts relating to the estate are owed as well as whom they are owed to. He is then responsible for making the payments on each of the debts that have been accrued by the testator. This includes all of the preparation that is involved in determining the debts owed as well as the exact amounts.
Any debts or payments that are due for the estate must be paid by the executor even if he must incur out-of-pocket costs. In many cases, the assets of the estate are not available to pay these expenses and so, the executor must find a way to raise the cash in order to pay off these debts. These costs will be repaid from the assets of the estate.
In some cases, these expenses will be ongoing until the probate of the estate is closed. It is the responsibility of the executor of the estate to identify which expenses will be ongoing ones so that they will be paid in a timely fashion. Administrative expenses are one example of an ongoing expense.
The personal representative will need to assess the value of any liabilities associated with the income or estate taxes. All required income tax and estate tax forms will need to be completed and filed by the executor of the estate. This activity will include assembling all of the necessary papers together.
Mediation in the context of a divorce or a relationship ending – what is it all about?
A divorce or the break-up of a relationship and often of a family makes for a time of crisis and trauma. Never easy, emotions tend to run high and there may be anger, hurt, bitterness and loss to cope with. At the same time there are many practical issues to deal with such as how to split one home into two and if there are children how to sort out care and contact details (the old custody and access).
Because of the emotions around separation and loss, betrayal and hurt, couples tend to stand opposite each other and become adversarial, and this of course can be compounded once they have each contacted a lawyer. The resulting animosity can hinder the sensible handling of their affairs so as to minimise the emotional fall-out and where there are children this is especially important as they end up being caught in the middle.
It is for these reasons that couples are turning increasingly to mediation to sort out the practical issues at the end of a relationship. Mediation totally side-steps the drama of being opponents, the adversarial game, with lawyers’ letters flying back and forth and acrimonious appearances in a court of law. Never mind escalating emotions, costs are huge – both the financial costs and the fall-out in terms of damage to the integrity of a family and the emotional welfare of the children.
Mediation provides a safe and private space where couples can stand together – rather than on opposing sides – to sort out their affairs and the welfare of their children. The mediator remains completely neutral and his or her role is simply to help the couple make sensible and practical decisions about what are often very emotional issues. The mediator “facilitates” a conversation that allows for a more comfortable outcome than leaving one in a battle zone. Mediators do not tell their clients what to do, neither do they offer advice, give legal opinion or turn the mediation into a therapy session. Instead they help a couple to look at all the possible options open to them.
Family mediators are highly trained and in the context of a divorce mediations are most effectively handled by two mediators working together, usually a family lawyer and a mental health professional trained in marital and family work. Any of the problems that arise when a couple splits up can be mediated, for example arrangements around children and the drawing up of a parenting plan which includes care and contact arrangements. Maintenance as well as property and financial matters can also be mediated.
Divorce lawyers and the courts are rapidly realising the value of mediation and since the new Children’s Act of 1995 there has been rapid growth in this field. This new act has firmly placed the well-being of children centre stage and encourages co-parenting rather than fighting over the children. Trained mediators are able to reduce conflict and encourage parental co-operation.
Mediation sessions usually last about two hours and three to six sessions may be required. Once agreement is reached the mediator will provide a copy of what has been mediated and this the couple take to their own individual lawyers. Nothing is binding until it is written into the settlement agreement and signed.
In the settlement agreement it is also useful to appoint a facilitator, either by name or to be nominated by Famac. The job of a facilitator is to ensure that a couple is able to make decisions regarding the children post-divorce and if at this point further mediation fails, a facilitator is empowered by law to make a legally binding decision for the couple, after having examined all the evidence. FAMAC (Family Mediators of the Cape) is the organisation which trains mediators and facilitators, provides on-going training and upgrading of skills and monitors accreditation in order to ensure the highest standards of service.
Step 1: Searching on the CIPC e-filing
Before lodging a trade mark, it’s wise to establish that the trade mark you want is available, and that it isn’t in conflict with an existing trade mark.
Societe Irehat Law Attorneys Inc offers a full search service in the form of a Trade Mark Search Report.
What this entails:
A Trade Mark Search Report costs R1 200,00 per trade mark, without additional costs for the number of classes we search in.
If the trade mark you want is available and there aren’t any conflicting names in the register already, we can proceed to lodge.
Step 2: Lodging the application
A trade mark can either be lodged manually or electronically. We opt for electronic submissions, as they tend to be processed quicker than manual applications.
All applications are lodged with a Power of Attorney, authorising us as a third party to submit the application.
Within 24 - 48 hours, we will receive an email notification with your official application number. As soon as this has been received, you can start to use your trade mark. At this point you also qualify for the use of the ™ symbol next to your trade mark, which indicates that there is a trade mark application pending for that trade mark.
Lodging a trade mark application costs R2 800,00, with no additional costs if the trade mark is provisionally accepted.
Step 3: The registration process
The process of registering a trade mark is quite a lengthy one, with several waiting periods in between steps. We promise to keep our clients informed every step of the way as we lead them through the process.
A step-by-step summary:
Step 4: What happens next?
Once this certificate has been received, you can start using the ® symbol with your trade mark, indicating that it has been registered.
Now you are the proud owner of a registered trade mark. Please be advised that a trade mark must be renewed every ten years, otherwise it will be removed from the electronic Trade Marks Register.
We have a high degree of specialisation in various fields of law, which ensures our clients get the best expertise available.
We offer the following legal assistance and services in terms of litigation:
And much more. Please feel free to contact us for assistance.
Certain documents are required by law to be notarially executed, in which case a notary has to draft the document which is then signed and witnessed in the presence of the notary. These documents are known as notarial deeds, and include, inter alia, ante- and post nuptial contracts, deeds of servitude, deeds of cession of usufruct, notarial leases, trust deeds of donation and notarial bonds. Such documents are kept in the notary’s safekeeping and the notary is also required to keep a protocol and register of all the documents drafted by and attested to before him.
Besides notarial deeds, a notary is furthermore needed for the noting of protests regarding a bill of exchange as well as Notary Apostille & legalisation services which include attestation, authentication and notarising of documents for use in foreign countries.
Legalisation of documents means that official (public) documents are affixed, sealed and signed either with an Apostille Certificate to be attached to certain documents which are to be used internationally (where countries are party to The Hague Convention, to which Benin Republic is a party), or with a Certificate of Authentication (where countries are not party to The Hague Convention).