31. What is a Title Deed?

The owner of Immovable Property is the person in whose name the property is registered in terms of the Deeds Registries Act 47 of 1937. A Title Deed is the owner of immovable property's documentary proof of ownership. Each privately owned property...

Friday, 06 February 2009 | 371 hits | Print | PDF |  E-mail | Report | Read more

32. Who do I pay my deposit to?

 Depending on what is stipulated in your sale agreement, your deposit is either paid to the estate agency involved or to the Conveyancing attorneys attending to the transfer. Both these professionals should have trust accounts in which your money...

Friday, 06 February 2009 | 330 hits | Print | PDF |  E-mail | Report | Read more

33. What will my transfer and bond costs be?

Your estate agent and conveyancing attorney should be able to answer this question based on a schedule of bond and transfer costs. The transfer fees depend on the purchase price of the property. Bond costs are calculated on the total loan...

Friday, 06 February 2009 | 1789 hits | Print | PDF |  E-mail | Report | Read more

34. When are the transfer costs due and to whom are they paid?

A few weeks after the sale, when you sign your documents, your conveyancer will request that you pay the transfer costs. The Conveyancing attorney has to pay the transfer duty - the major charge on most transfers - in advance, as well as the...

Friday, 06 February 2009 | 366 hits | Print | PDF |  E-mail | Report | Read more

35. Will someone contact me to let me know when the property is registered?

A representative from your conveyancer's firm should contact you as soon as the registration has gone through. You will also be given a final statement of the account. Your estate agent may also phone you to confirm registration. The bank will...

Friday, 06 February 2009 | 324 hits | Print | PDF |  E-mail | Report | Read more

36. The South African land registration system.

Almost all land has been surveyed by a qualified land surveyor which survey is reflected on a surveyor general diagram, which is get in the offers of these surveyor general.  Further to the above all these surveyed land is a registered in the...

Friday, 06 February 2009 | 534 hits | Print | PDF |  E-mail | Report | Read more

37. Understanding a Usufruct.

A Usufruct is a legal institution in which someone, who is not the owner, is given the right to use and enjoy the profits and advantages of something belonging to another as long as the property is not damaged or altered in any way, for a...

Friday, 06 February 2009 | 6722 hits | Print | PDF |  E-mail | Report | Read more

38. The Definition of a Servitude:

A servitude is a registered right that a person has over the immovable property of another. It allows the holder of the servitude to do something with the other persons property, which would not normally be allowed. An example is the right of...

Friday, 06 February 2009 | 998 hits | Print | PDF |  E-mail | Report | Read more

39. Suretyship - Explained!

When applying for a home loan with a financial institution, and your income and asset value does not cover the required loan you are applying for, the bank may ask you to get someone to stand as guarantor for your load, meaning that if you do...

Friday, 06 February 2009 | 2901 hits | Print | PDF |  E-mail | Report | Read more

40. Rental Deposits

Section 5 of the Rental Housing Act, No 50 of 1999 allows a landlord to take a deposit from a tenant prior to them moving in to the property. The deposit must be stipulated in the lease agreement. It is conventional practice to pay...

Friday, 06 February 2009 | 800 hits | Print | PDF |  E-mail | Report | Read more