( by: http://property.iafrica.com)

There are four main ways that you can buy and own property in South Africa and the decision on the appropriate entity for the acquisition of immovable property is not a decision to be taken lightly, says Peter Gilmour, Chairman of RE/MAX of Southern Africa.

He explains that South African law recognises two different types of “persons” — natural persons and juristic persons. “Natural persons are people who act and conduct business in their own name. Juristic persons are legal entities such as close corporations, companies and trusts.”

Andrew Heiberg, a director of the real estate business law firm Cliffe Dekker Hofmeyr, says that there are different tax and legal implications that apply depending on the investment structure that you use when buying property and as such it is highly advisable to consult with an attorney to find out which option is best for your particular needs.

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