LPL4804 Assignment 2 Semester 1 2023

LPL4804 Assignment 2 Semester % TRUSTED workings, explanations and solutions. For assistance call or us on . Question 1. [10] A section 38 take-over occurs where the Master, at his/her discretion in order to preserve the assets of the estate as a whole for the benefit of the surviving spouse and deceased’s children, allows the surviving spouse to take over all or part of the estate assets at valuation, even though the children or other heirs may be entitled to some of these estate assets. In such a take-over, the surviving spouse will usually be required to furnish the Master with a bond over the property to secure the rights of the minor heirs. What are the required documents will the Master. Question 2. [20] 1. How will the following persons be described in a deed of transfer in a vesting clause. Person to whom valid identity document has not been issued. [3] 2. Thandi and Tumi were married in terms of customary law on the 1 January 2020 and have not entered into an antenuptial contract. Tumi is the registered owner of Erf 333 Alexandra by virtue of deed of transfer T1234/2015 acquired before the marriage was entered into. How will the vesting clause read in the deed of transfer T1234/20157? [3] Thando and Thandeka Zuma are married in community of property. How will Thando and Thandeka Zuma be described in the preamble in the deed of transfer? [5] Thando and Thandeka Zuma are married out of community of property. How will the vesting Thando and Thandeka Zuma be described in the vesting clause? [6] . Xulu, registered owner of the land in Mahikeng, mortgaged to ABSA, sells the property to Zuma. Zuma does not have enough cash to pay the purchase price for the land, but fortunately VHS bank is prepared to lend Zuma the full purchase price, provided a mortgage bond is registered in favour of VHS bank over the land being acquired on registration of the transfer, to secure repayment of the loan. Indicate how the deeds office lodgement cover will read. Which transaction will be listed on the lodgement deed cover? [3] THE