31. What happens with trust monies?

  Section 78(2a) of the Attorneys Act specifically makes provision that an attorney, at the instruction of any person, may open a trust savings or other interest bearing account and the interest is paid out according to instruction. These...

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32. What is a Home Owners Association

What is a Home Owners Association When freehold properties are designed as a unit eg. a complex of townhouses or enclosed neighbourhood or golf estate, they are sometimes bound together by means of a Home Owners...

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33. What is a Title Deed and why is it so important?

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...

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34. 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...

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35. WHAT IS CONVEYANCING?

WHAT IS CONVEYANCING? The term "CONVEYANCING" describes the legal process whereby a person, company, close corporation or trust becomes the registered and lawful owner of fixed property and ensures that such ownership cannot be challenged. It...

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36. What is involved if a seller or purchaser wants to have a title deed condition removed. What is the cost? How long does it take?

What is involved if a seller or purchaser wants to have a title deed condition removed. What is the cost? How long does it take? There are two options available. Firstly, one can make application to the High Court for a court order that the...

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37. 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...

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38. 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...

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39. 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...

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40. 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...

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