Dictionary Conveyancing Terms
Property Law and Conveyancing Glossary of Terms
| Term | Definition |
|---|---|
| Rates and Taxes | Taxes are levied on all property owners by the municipality. Rates are included in the levy if you buy Sectional Title. They are payable on a monthly basis and are calculated as a percentage of the value of the property. Afrikaans - Eiendomsbelasting |
| Rates Clearance Certificate | Issued by the local authority stating that the rates and taxes have been paid to a future date in respect of the property. Afrikaans - Munisipale Heffings Sertifikaat |
| Real Estate Agent | See realtor. Afrikaans - Eiendomsagent |
| Real Righ | A right over or in respect of immovable property and registered against the title deed of the property. Afrikaans - Saaklike Reg |
| Realtor | A person licensed to negotiate and transact the sale of real estate on behalf of the property owner. Afrikaans - Makelaar |
| Registering Attorney | This attorney attends to the registration of the new bond into the name of the buyer. Afrikaans - Registreerde Prokureur |
| Registration of Transfer | The process whereby ownership of property transfers from the seller to the buyer via a Deed of Transfer. Afrikaans - Registrasie Van Oordrag |
| Repo Rate | A credit management tool used by the South African Reserve Bank to regulate customer spending in the country. Afrikaans - Repo Koers |
| Repossession of Property | See foreclosure. Afrikaans - Terugneming van Eiendom |
| Resolutive Condition | |
| Risk Profile | A person’s credit worthiness. Afrikaans - Risikoprofiel |
