WHAT EXACTLY IS CONVEYANCING?
The legal procedure through which a person, company, close corporation, or trust becomes the registered and legitimate owner of fixed property and ensures that such ownership cannot be challenged is referred to as “CONVEYANCING.” It also includes the process of registering mortgage bonds. (See also: “Mortgage Bonds.”)
WHo EXACTLY IS A CONVEYANCER?
A Conveyancer is an attorney who has also completed the national conveyancing examination and is the only person authorized by law to register fixed property transfers. This is required to protect the diverse interests of the participants in the transaction and to preserve the high standard of land registration.
WHO SELECTS A CONVEYANCER?
The seller typically chooses a Conveyancer to handle the transfer of fixed property, however this, like other components of a sale agreement, can be negotiated between the parties.
WHAT IS THE FIRST STEP IN A FIXED PROPERTY SALE?
The first prerequisite is a legal sale agreement. According to the Alienation of Land Act, no transaction involving the purchase or sale of immovable property will be valid unless it is in writing and signed by both the purchaser and seller (and by the spouses in cases where the parties are married in community of property or account to the laws of a foreign country) or their agents who have been given written authorization to sign on their behalf. A binding agreement is also formed by a written “Offer to Purchase” signed by a purchaser and accepted by a seller.
In South Africa, how much does a conveyancer charge?
In most cases, you should anticipate to pay between R200 and R550 + VAT. Not all conveyancers charge this fee, but a significant number do. Conveyancers incur a fixed price each set of paperwork prepared when utilizing a specific type of software, which is passed on to the purchaser.
