11. 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...

Friday, 06 February 2009 | 440 hits | Print | PDF |  E-mail | Report | Read more

12. What happens at the deeds office?

What happens at the deeds office? The conveyancer will lodge the title deed and other documents that he has prepared in the deeds office for registration. The deeds office is a government registry of ownership in all fixed property and other rights...

Friday, 06 February 2009 | 5212 hits | Print | PDF |  E-mail | Report | Read more

13. 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 | 2604 hits | Print | PDF |  E-mail | Report | Read more

14. Transfer and Bond Cost Calculator Courtesy of Louwrens Koen Attorneys and Conveyancers

South African Property Law and Conveyancing No Transfer Duty from Company, CC or Trust Transfers can take place from a Company, Close Corporation and Trust to its Shareholder / Member or Beneficiary free of...

Tuesday, 27 October 2009 | 27371 hits | Print | PDF |  E-mail | Report | Read more

15. 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

16. The difference between possession and occupation

The difference between possession and occupation Occupation is the right to use and enjoy the property.   Possession is associated with the legal risk  of  loss  or  destruction of  the property and the right to enjoy the...

Friday, 06 February 2009 | 2217 hits | Print | PDF |  E-mail | Report | Read more

17. 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 | 2942 hits | Print | PDF |  E-mail | Report | Read more

18. Taxes on the Transfer of Property

When residential land, or an interest therein is sold or transferred, either VAT or transfer duty is payable on the transaction. The issue of what "tax" is payable when a "property transaction" takes place, has become quite a complicated...

Friday, 06 February 2009 | 606 hits | Print | PDF |  E-mail | Report | Read more

19. SARA permission

SARA permission A Person may not alter or demolish any structure or part thereof which is 60 years or older without a permit from the relevant Provincial Heritage Resources Authority. Speak to one of our Conveyancers for Specialist advice in...

Friday, 06 February 2009 | 298 hits | Print | PDF |  E-mail | Report | Read more

20. Rezoning or Subdividing Your Property.

You need to apply to the local authority to re-zone or subdivide a property. Your application can take anything from 6 to 4 Years to be approved or declined. The documentation required is very involved and expensive, it is advisable to seek...

Friday, 06 February 2009 | 4607 hits | Print | PDF |  E-mail | Report | Read more