Services / Property Law

Property Law

Property Law Includes:

  • Registration of mortgage and notarial bonds.
  • Cancellation of existing mortgage bonds and notarial bonds.
  • Transfer of all immovable property, including conventional property, sectional title property, freehold, and leasehold properties.
  • Property development projects include the consolidation and subdivision of immovable property, rezoning of immovable property, township establishments, and Sectional Title Scheme Developments.
  • Registration and cancellation of Servitudes.
  • Ante-Nuptial Contracts.

Frequently Asked Questions

What is a Title Deed? And was does it mean for me as a Home Owner?

A title deed is an important legal document which serves as evidence of proof of ownership of a property (home) or a piece of land. If there is a bond registered over the property the title deed will be kept by the bank or financial institution and will only be returned to the owner of the property once the home loan has been paid up in full. One of the most important steps in buying a new home is to have the title deed transferred into your name, indicating that you are now the legal owner of the property. You will require the assistance of an attorney specialising in property law (also known as a conveyancer) to help you transfer the title deed into your name.

Who appoints the Transferring Attorney (“The Conveyancer”)?

In terms of the South African Common Law, the Seller has the right to choose which conveyancer will carry out the registration process of the transfer. In the agreement of sale (also referred to as the “Offer to Purchase” or “Deed of Sale”), there must be a specific clause specifying the transferring attorney. Make sure you as the Seller complete your chosen attorney’s name and details in the space provided. On some occasions, the purchaser may request to appoint their own attorney to attend to the transfer of the property, arguing that they are paying the transfer costs, therefore the choice should be theirs. But the fact remains, that it is the Seller that carries more risk during the transfer process and therefore the final decision regarding the appointment of the Transferring Attorney still remains that of the Seller. The Purchaser can still employ their own transferring attorney to supervise the registration process if they feel it is necessary. However, this will result in additional charges for the purchaser.

Who is liable to pay for transfer and bond registration fees?

The purchaser is liable to pay for transfer fees to register the property in his/ her name and should he/she be financing the purchase price by means of a bond, the purchaser is also liable to pay for the bond registration fees. Kindly note if the purchase price is more than R 1 000 000 ( One Million Rand) there is an amount due and payable to SARS (The South African Revenue Service) known as Transfer Duty. The amount of Transfer Duty payable is normally included in the Statement of account sent to the purchaser by the Transferring Attorney. Should you require a quotation on either transfer and bond registration fees kindly send an email to either michelle@matsepes.co.za or bonds@matsepes.co.za and we would gladly assist you.

What is Transfer Duty?

Transfer duty is a tax levied on the value of fixed property payable to the South African Revenue Service (SARS) when a property is acquired by any person by way of a transaction or in any other way. In other words, if you are purchasing a property and the property is valued between R1- R 1 000 000.00 you will be exempted from paying Transfer duty, but if the value of the property is above R 1 000 001 a certain amount is due and payable to SARS before registration. For ease of reference please see the transfer duty sliding scale below for the calculation of Transfer Duty:
Value of the Property Rate
R1 – R1 000 000 0%
R1 000 001 – R1 375 000 3% of the value above R1 000 000
R1 375 001 – R1 924 000 R11 250 + + 6% of the value above R1 375 000
R1 925 001 – R2 475 000 R44 250 + 8% of the value above R1 925 000
R2 475 001 – R11 000 000 R88 250 + 11% of the value above R2 475 000
R11 000 001 and above R1 026 000 + 13% of the value above R11 000 000
  Generally, SARS will regard the value of the property to be the same as the Purchase Price but in some instances, SARS may require an accredited valuation of the property to ensure the true and proper value of the property is reflected on the Transfer Duty Receipt. This may occur when a property is sold to a friend or a family member.

Property Law Specialists

SHARON-ANN-DE-LANGE-(DIRECTOR)-(B-Iuris,-LL.B)

Sharon Ann de Lange

DIRECTOR B-LURIS, LL.B

ROUX-BARRY-CLOETE-(DIRECTOR)-(B.A.,-LL.B,-Pg.D.C.L.)

Barry Cloete

DIRECTOR
B.A., LL.B, Pg.D.C.L.

MICHELLE-STOLTZ-(LL.B)

Michelle Stoltz

LL.B

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