11. REGISTERING PROPERTY IN THE NAME OF A TRUST

  It has become a fairly popular practice (especially amongst affluent people) to register property in the name of a legal entity such as a close corporation, company or trust rather than in their personal names. A trust is a popular choice,...

Friday, 06 February 2009 | 3806 hits | Print | PDF |  E-mail | Report | Read more

12. Rates Clearance Certificate from the Municipality.

When a property is changing ownership the transferring attorney will need to apply to the council (local authority) for a rates clearance certificate. The clearance figure is normally six months in advance on the sellers account. Only once the...

Friday, 06 February 2009 | 3560 hits | Print | PDF |  E-mail | Report | Read more

13. OFFER TO PURCHASE PROPERTY

OFFER TO PURCHASE PROPERTY OFFER TO PURCHASE ...

Monday, 11 May 2009 | 3112 hits | Print | PDF |  E-mail | Report | Read more

14. The Conveyancing and Transfer process of Property

Once an Offer to Purchase is duly signed by all parties it is handed to conveyancing attorneys traditionally appointed by the seller who then proceed with the formal process of conveying ownership of the property from the seller to the buyer and...

Wednesday, 27 January 2010 | 2930 hits | Print | PDF |  E-mail | Report | Read more

15. 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 | 2899 hits | Print | PDF |  E-mail | Report | Read more

16. Housing Development Schemes for Retired Persons

These schemes usually have extraordinary features, which other developments don't have, such as a frail care centre or full-time nursing care, restaurant facilities, great emphasis on security, etc. There can also be certain stipulations, which make...

Monday, 09 February 2009 | 2787 hits | Print | PDF |  E-mail | Report | Read more

17. Cancellation Fees

Cancellation Fees When your home loan is repaid in full, or you cancel the loan due to the sale of the property, and you wish to cancel the existing bond over the property, an attorney will be instructed to handle these proceedings. There...

Friday, 06 February 2009 | 2728 hits | Print | PDF |  E-mail | Report | Read more

18. Sectional Title F.A.Q

1       WHAT IS SECTIONAL TITLE? A Sectional Title Development Scheme (usually referred to as a Scheme) provides for separate ownership of sections of a property by individuals. These schemes fall under the control of the...

Wednesday, 18 March 2009 | 2622 hits | Print | PDF |  E-mail | Report | Read more

19. A Quick Checklist when completing an Offer to Purchase:

Click Here to Download Comprehensive Free Offer to Purchase Check that the description of the property is correct (as described in the title deed). Are all the buyers' & seller's details documented clearly? Check that the purchase price...

Monday, 09 February 2009 | 2603 hits | Print | PDF |  E-mail | Report | Read more

20. VAT, TRANSFER DUTY AND STRUCTURING PROPERTY TRANSACTIONS

 The general rule is that when a seller is not a registered VAT vendor, transfer duty is payable on the purchase price by the Purchaser. However, when the seller is a VAT vendor, then VAT is payable on the purchase price by the Seller. As a...

Friday, 06 February 2009 | 2602 hits | Print | PDF |  E-mail | Report | Read more