Who does the new Property Practitioners Act applies to?
Author: Kobus de Beer– Director
On 1 February 2022 the Property Practitioners Act 22 of 2019 (PPA) came into effect. The PPA replaced the Estate Agency Affairs Act 112 of 1976 (EAAA).
The PPA changed the playing field significantly for estate agents and now includes other role players, such as managing agents in the property industry that were previously not affected by the EAAA. The PPA is applicable to all property practitioners. The definition of a property practitioner (natural or juristic person) includes a variety of persons that are involved either directly or indirectly in the property industry, and those persons and their employees, to a certain extent, are the following:
Trustees of trusts
The PPA is detailed and different from its predecessor and it is very easy to find yourself or your company on the wrong side of the fence. Non-compliance with the PPA can happen by accident or lack of knowledge or direction. Ignorance of the law is not a defence and non-compliance with the PPA is a criminal offence and, if convicted, one can be liable for a fine or imprisonment for up to 10 years.
If you need assistance, we at Lawtons Africa are able to guide you through the new requirements of the PPA.
Lawtons Africa is a South African law firm. With roots that grew out of seeds sown in down-town Johannesburg in 1892, our history features various changes and different names. Our team of lawyers, including directors, consultants, associates and candidate attorneys is highly qualified, market-recognised and skilled. For further information, visit www.lawtonsafrica.com