Frequently Asked Questions
Who Owns Silvermine?
What is a Shareblock scheme?
Silvermine Village is ‘owned’ by its shareholders.
The separate and exclusive rights of use and occupation of individual cottages are derived from blocks of shares in Silvermine Village Share Block Holding (Pty) Limited. A purchaser acquiring the relevant share blocks obtains the exclusive use and occupation of a specific cottage and garage.
No transfer duty is payable, because shares, not immovable property, are being bought and sold.
What happens when a cottage is finally vacated?
The shareholder or his/her estate receives a full refund of the amount which he/she paid for the share blocks plus the cost of any registered improvement costs.
What happens to any surplus generated from the re-sale of cottage rights?
These costs would otherwise be paid out of the monthly general levies collected from residents. One of the main objectives of Silvermine Village is to maintain its levies at affordable levels by subsidizing them from exit levies.
Who manages Silvermine Village?
● A General Manager, Tania Shamley, appointed by the Board who is responsible for day-to-day operations.
How do I get my name on the waiting list?
A non-refundable deposit of R1000.00 is required. This is deducted from the purchase price upon purchase of a cottage.
We will contact you via email when a cottage becomes available.
What is meant by unique combination of rights?
What items are included in monthly levies?
● Laundry (12 kg per month)
● Courtesy bus service for regular trips
● 24-hour security
● General maintenance of common property
● Water, Sewerage and Electricity are metered and charged per cottage
● Insurance of buildings. Personal Insurance of contents remains the resident’s responsibility
● External Maintenance of cottage and communal buildings.
● Internal telephone service