How long does a transfer of property take to register?

Transfer of property 

As a boutique law firm that is passionate about incorporating the highest calibre of regulations and legal services. We pride ourselves in streamlining property laws for our clients with different requirements and specifications.

The process of transferring a property can take up to 3 months and would require different phases to be invoked for the transfer of property to take place. An experienced group of lawyers at Marie Van Coller will assist with facilitating communication amongst the relevant parties and ensuring the documentation is aligned with regulatory compliances.

A combination of steps will need to be followed for a successful transfer to take place. The initial instruction of transfer will be received by the conveyance. The different parties involved will include the seller, the purchaser, bond attorneys, the respective municipality, banks and the relevant authoritative body such as the South African Revenue Services.

The collection of certain information and documentation is required which can include the agreement of sales, existing deeds, and bond cancellation figures. The next step in the process would be the drafting and signing portion of the process. Those specific transfer documents will include a power of attorney and various affidavits.

Additional financial arrangements are also required so that transfer duties and clearance certificates are obtained. The conveyance prepares for lodgement of the deed of transfer for registration at the deeds office.

The costs relating to the transfer of property includes the transfer duty to SARS, rates payable to the municipality, conveyancer’s interim and final account payable as well as the fees to the relevant banks. The bond registration attorney is the attorney that registers the purchaser’s bond over the property.

Look no further than Marie Van Coller for a streamlined process for transferring property.

 

For more information about COVID-19 please visit: COVID-19 Corona Virus South African Resource Portal

For more information about POPI please visit our Privacy Policy page