Divorce – Falling Off the Property Ladder

Ladder

Divorce is one of life’s harsh realities that will often leave both parties reeling with the increasing loss of hearth and home.

Whether you’re plaintiff or defendantor divorce is really a nasty business frequently resulting in both parties needing to downgrade life styles and, oftentimes, fall off the land ladder altogether. In today’s ever changing economic climate it’s frequently rather difficult to recoup that lost ground. Recent statistics from South Africa show that whilst it is more often than the woman that files for divorce, it also often the lady that comes off worst financially.

The days of chivalry are gone.

Gone would be the days of this gallant, so on to be Real estate companies in Ghana ex-husband bequeathing the home, car and chattels to the prospective ex-wife through the whole period of raising the children. It’s more probable that the husband will probably consider 50:50 a reasonable separation even when the wife is expected to house, feed, clothe and lift some offspring of this marriage.

Courts do not take into account that the life style change depends upon us as a consequence of divorce also means not having a man in your house. This then contributes to feelings of bitterness that could indicate a location shift and further expenses. Generally divorce additionally means reduced finances, and whilst your ex may have consented care with annual gains, it’s usually insufficient to keep the current living standards and hard to apply.

Security and ‘Semi-gration’

The security issue for all women becomes evident in figures that show that while 7.3percent of South Africans live in greater Cape Town, 16% of divorcees live there. (AMPS 2005RA). Small coastal towns also boast a higher percentage of divorcees and also”semigration” is fast becoming the newest fashion as single women flock to the coast for security.

Apart from the influx of wealthy’up country’ families escaping the stresses of rising crime, the coastal areas of South Africa are also receiving significantly more than their fair share of divorcees and unmarried women while they no more hang around their exhusbands shirt tails nevertheless are still feeling permitted and striking on their own seeking security and lifestyle for their smaller families.

The extra allure of shopping for at the shore is that the property may be utilised to gain an attractive income from if necessary. Whether it’s derived from leases that are steady or tourism leases, a lock up and proceed about the Garden Route is the ideal earner and also’semigration’ is keeping land representatives, removals investors and companies busy whilst passing outdoors in to drowsy tourist towns.

“The IT revolution has published the stay at home Mom and lets them look additional afield in their search for security. Women developing of a divorce situation know that security is really a huge issue and they are well prepared to down scale for quality of life and safety.”

Areas just like the Garden Route and the Klein Karoo are rapidly getting magnets for women in these conditions. Property is more cheap in towns like De Rust and Greyton, both George and Aberdeen and unmarried mothers have the choice of boarding schools and local instruction near.

To allow them to return on the property ladder some divorcees are spending a couple of years working abroad to give their investment fund that much needed cash . Caregivers, doctors, radiologists and administrative workers are in amazing demand and will get up to five times what they have been paid in South Africa that’s a welcome boost toward that lockup and proceed in scenic Knysna!

A new Niche Market for Property Developers?

Property representative Deborah Scott of Pam Golding Properties at Knysna told Her Mortgage that she expects a big change on the market as more unmarried women are looking for entry level property in addition to high luxury secure possessions for themselves after divorce.

“High luxury flats in the water’s edge appeal immensely to screened, kid free women seeking security in a attractive environment, close to airports as well as at a town big enough to provide them with necessities. I do believe that the faces of these towns will soon be shifted to accommodate the fashion ”

The Royal Eagle Investment Fund based in George appears to be doing exactly that. Dutch possessed Royal Eagle Property Fund PCC is a unlisted property investment finance established in March 2007 to get in direct property assets. They manage the finance in a wide array of innovative real estate investment vehicles. The attention, however, is to invest directly in real estate at the Garden Route area, ear marking high density development plots.

Exactly what are South African long term lenders doing about scooping up this market?

Her Mortgage had a peek at exactly what the main South African banks are providing divorcees to lessen the strain. Exactly. Nothing! Yet in the United Kingdom mortgage bundles such as divorcees have been in existence for some time now for people who are financially dependent on their ex partner. It empowers those receiving regular maintenance payments and/or those self employed to obtain a home loan in their own right and provides several tasty’add ons’ to ease that transition from couple to single.

Are South Africa’s Tax laws banning union?

Understanding what drives the higher level of divorce from South Africa is difficult but undoubtedly blame could be placed at the feet of their law enforcement government as our existing tax laws just do not encourage union. Recent online articles state that the amount of divorce is rising with the interest rates in South Africa.

Any asset that gives you income is seen as collectively possessed and each of you will be asked to account fully for these figures in each tax return – separately. Each spouse will be taxed on 50% of their income received.

The good news however, is the fact that the proposed Civil Union Bill can result in the concept of a union’in area of property’ where concerted exemptions are made, falling away but remember that it may not influence people already wed. Hopefully this can support South African couples not to divorce because of financial reasons!

It’s time to catch the reins and find!

With motivational e-book sales on fund ranking full of women’s markets and novels like Suze Orman’s hottest”Women & Money” walking off the shelves, Her Mortgage may just conclude that women desire to learn about money and fund. For too long it has become the domain of the Southern African man and women have conceded this too often to keep up the peace in the home and not ruffle male feathers.

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