Property Transfer

Stage 4 - Property transfer 
The documents required to enable transfer to be passed (power of attorney conferred upon the conveyancing attorney; Transfer Duty Declaration) are drawn by the transferring attorney . The title deed and bond cancellation figures are requested from the bank which currently has a bond over the property.  

Stage 5 - Rates clearance certificate and transfer documentation 
A Rates Clearance Certificate (a document stating that all rates and taxes for the current rates year have been paid) is obtained from the municipality by the Transferring Attorney .
The Bond Attorney advises the Transferring Attorney of the amount available for guarantees and requests the draft deed of transfer and guarantee requirements. The Cancellation Attorney is requested to cancel the seller's bond, on receipt of a guarantee for the amount owing.
The Transferring Attorney receives the title deed and bond cancellation figures and sends a copy of the deed of transfer and the guarantee requirements to the Bond Attorney. The Transferring Attorney requests the purchaser and seller to sign the transfer documents. The purchaser pays the transfer costs and the Transferring Attorney then pays the rates and taxes and the transfer duty to the South African Revenue Service. A Transfer Duty Receipt is issued.  Bond documentation  The Bond Attorney prepares the bond documentation together with the relevant statement of account. The purchaser signs the documents and pays the costs. The Bond Attorney prepares and issues the necessary guarantees, forwards them to the Transferring Attorney and prepares the bond documents for lodgment in the Deeds Office. Once the Transferring Attorney has received the guarantees, they are forwarded to the Cancellation Attorney.

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