PROPERTY TRANSFERS AND CONVEYANCING
Purchasing property can be a stressful and challenging event. Having experience in the field of property transfers and conveyancing matters, the staff at TLT Attorneys are experienced and well aware of the risks and potential problems which could arise out of such transactions. It is our goal to provide you with affordable, personal and professional services that conform to the highest standards and that seek to make such an undertaking as easy and undemanding as possible.
What does conveyancing involve?
Every time a property is sold, the first process is to remove the property from the previous owner’s name and secondly to establish new ownership by way of a title deed issued by the deeds office. This title deed becomes buyers’ evidence of new ownership, and is therefore legally binding.
The transferring process begins when the offer to purchase is signed and accepted by both parties, and is finalised once the property is registered and all payments are concluded. In between such undertakings however, there is are numerous processes and procedures that need to be followed and may include:
- Consultations about the transfer process
- Assisting with applications for a Mortgage Bond with a registered financial institution
- Creating a trust account to hold the agreed purchase price until the registration of the property is finalised
- Drafting transfer documents
- Ensuring the payment of municipal rates
- Providing compliance certificates from the seller
- Ensuring all relevant levies are paid and up to date
- Ensuring the SARS Transfer Duty is paid
- Lodgement at the deeds office for registration
Why would you need a conveyancing attorney?
In South Africa, the buying or selling of property legally requires the specialist services of a conveyancer in order to ensure the transfer process is correctly followed, and that the assets of all parties involved are protected. It is important to note that both buyers and sellers, legally require the services of a conveyancer in the property transfer process.