The Seller and the Purchaser will be required to sign the transfer documentation in order for the conveyancer to proceed with the transfer and registration of the property.
Author: Yolande Schoültz
The Conveyancer will now attend to the following:
1. Request the bond cancellation figures from the Seller’s bank or financial institution.
2. Apply to the relevant Municipality for the rates clearance figures of the property.
3. Apply to the Home Owners Association for the levy figures of the property. (if applicable) 4. Apply to the Body Corporate of a Sectional Title unit for the levy figures of the property.
One of the suspensive conditions in an agreement of sale is that the purchaser must obtain a loan from a bank or a financial institution, within a certain time period.
Should the Purchaser not be able to obtain a loan from a bank or financial institution within the stipulated time period, the agreement of sale will lapse and be of no force and effect.
The purchaser will make an offer to purchase for a property by signing an offer to purchase, which will become an agreement of sale on acceptance of the offer by the seller.
Important clauses in an agreement of sale:
- The parties. (ensuring their legal capacity to enter into the agreement.)
- The purchase price.
- Suspensive conditions. (obtaining a loan from a bank or financial institution).
- Occupational rent. (should the purchaser occupy the property before registration of the transfer is complete)
- Transferring attorney particulars.
- Breach of contract.
- Special conditions.
These are only to name but a few of the important clause in an agreement of sale between a seller and a purchaser.
It is therefore crucial that both the seller and the purchaser peruse the agreement of sale and raise any concerns before signing the agreement.
We will be honoured to attend to any questions you might have when buying or selling property.
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SAME-SEX COUPLES
DID YOU KNOW: Should you NOT enter into an Antenuptial Agreement you will by default be married IN community of property.
Same-sex couples enter into a marriage in terms of the Civil Union Act 17 of 2006, and you have a choice to either be a SPOUSE IN A MARRIAGE or a PARTNER IN A CIVIL PARTNERSHIP.
We attend to the following:
- The drafting of your antenuptial agreement.
- The notarization of your agreement by a notary public.
- The registration of your agreement in the deeds office.
We will be honoured to attend to your Antenuptial Agreement.
Do you know which payments the PURCHASER is responsible for?
The Purchaser is responsible to pay:
- Transfer duties to SARS.
- Deeds office registration fees.
- Transfer attorney fees to register the deed of transfer.
- Bond registration attorney fees for the registration of the bond.
You always have the freedom to choose your own transferring attorney.
DO YOU KNOW WHICH PAYMENTS THE SELLER IS RESPONSIBLE FOR?
The Seller is responsible to pay:
- Estate Agent commission.
- The cancellation attorney’s fee in order to cancel an existing bond.
- Rates and taxes to the municipality.
- Levies to the home owners association or the body corporate.
You always have the freedom to choose your own transferring attorney.
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ARRESTED FOR DRINKING AND DRIVING
WHAT SHOULD YOU DO WHEN YOU ARE ARRESTED FOR DRIVING UNDER THE INFLUENCE?
- Give your co-operation to the authorities.
- You have the right to call at least one person (your attorney, a friend or family.)
- You have the right to consult your attorney.
- You can be released on bail or a warning.
WHAT IS THE PROCESS FOLLOWING YOUR ARREST?
- If you have not been released on bail, you will remain in the police cells until you appear in court.
- This must happen within 48 hours, except if it is a weekend or public holiday, when you will only appear in court on the first working day.
- At your first court appearance the issue of bail will be revisited and usually confirmed by the court.
- Your matter will be postponed for a couple of months for the results of your blood tests.
- If you are found guilty of drunken driving, you may get a fine, jail time, and your drivers’ license might be suspended.
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POWER OF ATTORNEY
What is the difference between a Special Power of Attorney and a General Power of Attorney?
SPECIAL POWER OF ATTORNEY
- Relates to specific matters and / or acts which the grantor has a need for to be managed on his / her behalf.
- Grant specific powers to the grantee in order to fulfil the wishes of the grantee.
- Can be granted when the grantor travel overseas.
- Used by attorneys in order to administer deceased estates where the Executor is not the attorney.
GENERAL POWER OF ATTORNEY
- Relates to all matters of the grantors life and / or specific life decisions to be made on his / her behalf.
- Most often granted when the grantor is too frail to physically sign documents.
- Required to be registered in the deeds office to enable the grantee to deal with the property of the grantor.
DID YOU KNOW?
A Power of Attorney is only valid in South Africa when the individual (the grantor) is still compos mentis (having full control of one’s mind).
Should the person not be compos mentis, a curator will have to be appointed in order to manage the affairs and estate of the individual.
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PAYROLL FRAUD
What are the most common payroll fraud areas?
- Unauthorized employee banking detail changes.
- Duplicate employee bank account details.
- Ghost employees.
- Payments to old terminations.
The abovementioned payroll fraud areas should be checked monthly by high level management in order to detect any unauthorized changes in the payroll system.
We offer companies the following services:
- Payroll Risk and Process Assessments.
- Payroll Fraud investigations.
