Cancelled Sale, Damaged Property. Who Pays?

Cancelled Sale, Damaged Property. Who Pays?

Cancelled Sale, Damaged Property. Who Pays? “You do not mend a broken vase by handing over a new one.” (Anonymous) When a property sale is cancelled, most people picture a straightforward reset. The seller keeps the property, the purchaser gets the money back, and...
Legal Speak Made Easy: “Dormant Trust”

Legal Speak Made Easy: “Dormant Trust”

“Dormant Trust” You will see and hear the phrase “dormant trust” bandied about a lot, normally in relation to what ongoing duties the trustees of non-active trusts do and don’t have. Be warned that SARS says that there is no such legal concept as a “dormant trust” and...
Your Dormant Trust Is Not Invisible to SARS

Your Dormant Trust Is Not Invisible to SARS

Your Dormant Trust Is Not Invisible to SARS “Things do not go away. They go somewhere.” (Annie Dillard) Many trustees assume that a dormant trust can be safely forgotten. No income, no assets, no transactions … No problem. SARS has made it clear that this assumption...