Bouwer N.O and Another v Master of the High Court, Pretoria (2937/21)
Bouwer N.O and Another v Master of the High Court, Pretoria (2937/21) [2022] ZAGPPHC 56; 2022 (6) SA 204 (GP) (31 January 2022)
The court found that the proceeds from the sale of capital assets, such as the ABSA cheque deposit, motor vehicle, and recovered debt, do not constitute income in the ordinary sense but remain capital. The applicants were not entitled to record these proceeds as income or to charge a 6% fee thereon without the prior consent and approval of the Master, as required by the court order and appointment letters. The applicants failed to comply with the regulatory requirements, specifically the need to record realized capital assets under the capital account before any transfer to the income account…
Source excerpt
- Administration Of Estates Act
- Curatorship Fees
- Declaratory Relief
- Interpretation Of Regulations