1 minute read

The ABC of property transfers | The seller’s right to nominate the transferring attorney

Writer: LB Vorster.

Once a property owner has accepted an offer for the purchase of his/her property whereby a deed of sale has come into operation (provided the transaction is not subject to fulfillment of a suspensive condition), the agent will ask the owner (now referred to as the seller) to nominate the transferring attorney.

Advertisement

It is important to note that it is the prerogative of the seller to nominate the transferring attorney despite the fact that the purchaser is liable for payment of the transfer costs, which include the fee of the transferring attorney. Sellers are often requested to allow the purchaser’s attorney to attend to the registration of transfer. However, as will be seen later on in this article, to accede to such a request may ultimately be regretted.

Click below to read more. (The full article can be found on page 16)

This article is from: