The A-B-C of Property Transactions

Writer: LB Vorster.

Transfer of the ownership of immovable property in South Africa has to be registered in the Deeds Office of the area in which a particular property is situated.

The guidelines along which registration is to be effected by the transferring attorney/conveyancer, appointed by the seller, will to a large extent be contained in the Deed of Sale, i.e. the Offer to Purchase, once it has been accepted in writing by the owner/seller.

It is of paramount importance that the Deed of Sale clearly and correctly reflects the parties’ true intentions, their rights and obligations, that any time frames are adequately described and that it complies with at least the basic principles of the law of contract.

In the coming months, this column will be dealing bi-weekly with possible ways in which a Deed of Sale can be structured in order to ensure a streamlined and swift registration process.

Click below to read more. (The full article can be found on page 14)