CONVEYANCING

All aspects of Property Law are dealt with by the firm. Special attention is given to transfer registrations, bond registrations and bond cancellations, group housing, notarial agreements, servitudes, opening and registration of sectional title schemes, sub-divisions and consolidations, antenuptial contracts, township planning and registration/ establishment thereof.

The firm is on the attorney panels of ABSA Bank, First National Bank, Nedcor and Standard Bank. A healthy relationship has been built up over the years with numerous estate agents and property developers.

The office is equipped with the latest, fully integrated computer network with direct internet and e-mail facilities on all PC stations and direct links to the Commercial Banks, Receiver of Revenue, Registrar of Companies, Master of the High Court and the Deeds Offices country wide.

ALL YOUR QUESTIONS ANSWERED

The Transfer of Ownership of Immovable Property

Who appoints the conveyancer?

Usually the Seller.


How does the transaction commence?

The transaction commences with a written agreement of sale. This written document is very important and should be drawn up by an expert.


What documents must be completed and signed?

• A power of attorney to pass transfer;
  
• A declaration in respect of status and insolvency;
  
• Transfer duty and Value Added Tax declarations (the last mentioned document is normally not applicable to private Purchasers and Sellers);
  
• Mortgage bond documents

What information must I provide?

• Identity document
  
• Marriage certificate (if applicable)
  
• Ante-nuptial contract (if applicable)
  
• Divorce documents (if applicable)

What happens then?

• Cancellation figures for the Seller’s existing bond are requested from the current bondholder (Bank).
  
• A statement of rates and taxes are requested from the City Council.
  
• After receipt of the cancellation figures of the Seller, guarantees are requested against the Purchaser’s new bond.
  
• Guarantees are then delivered to the existing bondholder (Bank), before they will consent to the cancellation of the Seller’s bond in their favour.

What about the signing of the documents and costs?

The Seller and the Purchaser must sign all the necessary transfer and bond documents and pay the costs as soon as possible so that payment of transfer duty may be affected to the Receiver of Revenue and guarantees issued as referred to above. The amount due in respect of rates and taxes, calculated in advance, must also be paid.


How long does this process take?

We are only able to lodge the documents at the Deeds Office for registration of your transaction after receipt of all above mentioned figures, receipts and documentation, especially the consent for cancellation of your existing bond. After lodgement, (a) the transfer documents, (b) the consent to cancellation of the existing bond and (c) the new bond simultaneously undergo a process of examination by competent officials at the Deeds Office. This Process, up to and including date of registration, usually takes between 7 and 12 working days.


Could there be any delays?

Yes, the time may vary, depending on the availability of staff at the Deeds office, the functioning of their computer system and the complexity of the transaction. You can, however, be assured that the deeds registration system in South Africa is one of the best and safest in the world.


What happens after registration?

Upon registration, we immediately advise you the Seller, the Purchaser and the other parties involved, including the Estate Agents, of the registration and account separately to all concerned regarding the appropriation of their funds.


How long, then, does the whole process take?

We aim to finalise a transaction within approximately two months from date of receipt of the Deed of Sale. However, depending upon outside circumstances involved, over which we do not always have full control, this could take longer.


What does our practice do to speed up the transaction?

Be assured that we strive to register a transaction within the shortest possible period and that we have succeeded throughout, since all functions, even those outside concerns are handled with the necessary priority and expedience.


What do you do if you have any Queries?

When phoning our offices, please always quote our reference number for the immediate attention of our able, well-trained and friendly conveyancing staff. If you do not have a reference number, then kindly furnish us with the initials and surnames of both the Seller and the Purchaser. Your call will then be immediately put through to the member of our staff handling your transaction.


Are there any general problems?

Yes, the following three matters often create confusion, frustration and unhappiness with both Sellers and Purchasers.

The figures furnished to us by the Bank to cancel your existing bond and the rates and taxes paid on your behalf to the City Council. It is Bank policy that you are obliged to maintain your bond payments until the registration of your transfer is effected, and only thereafter will you be refunded, if any credits are due to you. This similarly applies to payments of rates and taxes. Upon receipt of an instruction to register a transfer, our offices immediately request and receive cancellation figures from the bank ( your Bondholder). Because we request the figures only once and early in our transaction, and base our calculations on that amount, it usually happens that the Seller continues to make his bond payments after receipt by us of the cancellation figure. The payments made by you after receipt by us of the cancellation figure, are not taken into account when we account to the Seller upon registration of transfer. We would suggest, and this in any event required by the Bank, that the Seller continues his bond payments. At this point it must be borne in mind, as stated above, that we have obtained cancellation figures, which figures are used to calculate the final amount due to cancel your bond. After registration the Bank/ City Council then refund, normally to us, any credits which may be due to you. You may therefore rest assured that, if you have calculated your bond/ rates and taxes amount to be less than the figures furnished in our statement, a refund will soon be on its way to you. Rates and taxes should be paid four months in advance and this could also influence your calculations.

In general, a good understanding exists between the Seller and the Purchaser regarding occupational rental due to the Seller and the collection thereof. However you are kindly requested to specifically instruct us if you wish us to attend to supervise the collection and punctual payment or pro rata refund of your rental, should you have any problems in this regard.

Requests by you to give undertakings for payment of any amount to the third parties will only be adhered to upon your written request and our offices will not accept payment of any monies due, once the documents have been lodged in the Deeds Office, unless such payments are made in cash or by bank guaranteed cheque.
You can rely on the Professional handling of your transaction by our winning team. We thank you for your support!