What Happens To The Original Title Deed When You Buy A Property?
Many people are uncertain about the whereabouts of the original Title Deed after the transfer of property ownership has been registered in the Deeds Office. This is determined by how the purchase price for the immovable property is paid by the purchaser. Cash Payment If the purchaser pays cash for the property, then the original […]
Your Options Once Your Mortgage Is Paid Off
Paying off your mortgage is a significant financial achievement and a momentous milestone in your homeownership journey. However, your relationship with the Bank does not end with the final payment. Only once you have taken the additional step of formally cancelling your mortgage bond, your property will be finally unencumbered. In this article, we’ll explore […]
Understanding Voetstoots
It is common practice to include a voetstoots clause in a sale agreement, whether for movable or immovable property. Often sellers are under the wrong impression that this clause is a blanket indemnity against anything that is wrong with the sale item. On the other hand, purchasers don’t realise their duty to thoroughly inspect the […]
What If My Original Title Deed Is Missing?
In order for a property to be transferred, an original Title Deed must be provided to the Conveyancer who is attending to the transfer. This Title Deed will be lodged, together with the other transfer documents, in the Deeds Office for the registration process. If the property is bonded, the original Title Deed will be […]
Navigating The Complexities Of Deceased Estate Administration
The passing of a loved one is an emotionally challenging experience, and amidst the grief, the family is often faced with the daunting task of administering the deceased estate. This process can be overwhelming, particularly for those unfamiliar with the intricacies involved. Understanding the legal framework and procedures is crucial for a smooth and efficient […]
Demystifying Rental Deposits: Rights, Responsibilities, And Best Practices
The purpose of rental deposits in lease agreements and the Rental Housing Act, 50 of 1999, should be to protect both the landlord and tenant, yet so often these rental deposits are a great source of financial stress for tenants and abused by landlords for their benefit. Landlords and tenants alike should therefore be aware […]
Dealing with Municipal Accounts After Property Transfers
Many people are under the misguided impression that, when a property is transferred from one person to another, the Municipality will automatically close the seller’s existing account and open a new municipal account for the new owner of the property. This is not the case. On registration of transfer, the attorneys who attended to the […]
Understanding The Role Of A Conveyancer In Property Transactions
A conveyancer is not your typical attorney. In South Africa, they play a specialised and crucial role in property transactions. Here are some of the main aspects that set conveyancers apart from other attorneys: 1. Specialisation in Property Law: A conveyancer is an attorney who specialises in property law. To become one, they must have […]
