Definitions and Implementations
Purpose and Objects of the Property Practitioners Act (PPA) – Section 3
- Protection of Consumers
- Addressing grey areas in previous Act, etc.
Authority: Property Practitioners Regulatory Authority (formerly the “board”)
Business Property Practitioner: Partnership, Company, Trust, Close Corporation, etc.
Non-Principal Property Practitioner: Any person employed by a property practitioner
Effective Date: 1 February 2022
PROPERTY PRACTITIONER:
A Property Practitioner means any natural or juristic person who, for the acquisition of gain on their own account or in partnership, in any manner holds themselves out as a person who, directly or indirectly, acts on the instructions or behalf of another person as:
- Property Agents
- Leasing Agents
- Leasing Administrators
- Bond Originators / Bridging Companies (excluding Financial Institutions)
- Auctioneers
- Property Managers
- Property Trusts
- Property Brokers
- Home Inspectors
- Intermediaries and Facilitators
- Homeowner’s Associations
- Companies Selling Timeshare and Fractional Title
- Property Developers
Note: This list is not exhaustive.
Exclusions:
- Any person not engaged in these activities in the ordinary course of business.
- Natural persons who, in the ordinary course of business, sell their own property.
- Attorneys and Candidate Attorneys
- Sheriffs