From signed sale to registration.
A property transfer is not one step. It is a coordinated legal process involving the agreement, parties, banks, clearance figures, transfer duty or exemption, guarantees and the Deeds Office.
What the transferring attorney coordinates.
Brenda Tanner’s published transfer procedure describes a workflow beginning with the signed agreement of sale and continuing through the checks, documentation, clearances, financial security and lodgement needed for registration.
Open & check the transaction
The agreement, parties, property and suspensive conditions are reviewed. Relevant title conditions and property information are identified.
Coordinate finance & cancellation
Where applicable, existing bond cancellation figures are requested and the purchaser’s bond / guarantee arrangements are coordinated.
Obtain clearances & prepare documents
Rates, levy or homeowners’ association clearances are dealt with as applicable, and transfer documents are prepared for signature.
Transfer duty / exemption & guarantees
The relevant SARS transfer-duty or exemption process is attended to and the purchase price is secured as required by the transaction.
Lodgement & registration
When the transfer and any linked bond matters are ready, they are lodged for Deeds Office examination and registration.
After registration
The parties are notified, transaction funds and apportionments are finalised as applicable, and relevant authorities or managing agents are advised.
What sellers should expect.
The seller ordinarily nominates the transferring conveyancer. The published procedure also places several practical responsibilities with the seller, including providing transaction information and arranging applicable compliance certificates.
Information commonly needed
- Identity / entity and FICA information
- Existing bond details
- Rates, levy or association account information
- Tax number and relevant property documents
Practical items to coordinate
- Applicable electrical / gas / electric-fence certificates
- Municipal or levy assessment queries
- Utilities and meter arrangements around transfer
- Occupation / occupational rental if relevant to the agreement
Finance and documentation must meet the agreement.
Purchaser responsibilities generally include providing FICA and entity information, progressing any bond application, paying required transfer and bond costs, and ensuring the purchase price is secured by the agreed date.