Ownership of time share at Durban Spa is held under Sectional Title Ownership by the registration of a formal Deed of Sectional Title in the Deeds Registry.
Each owner is issued with a title deed indicating the portion of the undivided share held in a specific unit in the scheme. The rights of occupation are prescribed in a Use Agreement defining the week of occupation.
Transfer of the share requires formal registration in the Deeds Office.
When an owner of a section dies, the time share unit held forms an asset in the deceased’s estate. The deceased’s share is required to be transferred in terms of the provisions of the Administration of Deceased Estates Act.
It is necessary for the deceased’s estate to be reported to the Master Office and for an Executor or Administration to be appointed. The Deceased’s share is then required to be transferred to his/her heirs in terms of a Will or in the absence of a Will in terms of the laws of intestate succession.
The death of an owner does not bring to an end the liabilities that attach to ownership and until the property has been transferred into the name of the new owner the Estate will be liable for the annual levies payable. The time share can also not be abandoned or surrendered to the Body Corporate or Managing Agents. It is necessary for the Executor or Administrator appointed to deal with this time share unit as he would with any other assets in the Estate. It is only the appointed Executor who can pass transfer of the unit held by the deceased to the beneficiaries. In certain instances with the consent of the Master of the High Court the asset can be transferred from the Estate to a purchaser in terms of an Agreement of Sale.
It is important, on the death of an owner to advise Durban Spa Management and to provide them with the identity and contact details of the appointed Executor as soon as possible.
The levies and amounts payable to Durban Spa remain the liability of the deceased’s estate until transfer of the unit has been passed.