Conveyancing
Conveyancing is the legal transfer of property ownership. A conveyancer, often an attorney, ensures proper documentation and requirements for a smooth transaction.
Notaries
Notaries authenticate legal documents, verify parties’ identities, and witness signatures to uphold transaction integrity and prevent fraud.
Commercial Law
Our highly skilled team provides comprehensive commercial law services, including contract drafting, advice on transactions, and considering various interrelated legal frameworks.
Legal Mining
Experience expert guidance in the mining industry’s legal intricacies with our team, providing solutions for compliance, rights, and due diligence.
Corporate Law
Navigate the complexities of corporate law with our tailored services, addressing the unique needs and legal aspects of individuals, companies, and organizations.
At Steyn Kinnear Incorporated, our diverse and committed team of attorneys provides exceptional legal services, including conveyancing, with a client-focused approach and a deep understanding of the local business environment. Trust our extensive industry experience to deliver tailored solutions, ensuring your transactions are in the most capable hands.
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FAQ
What is the difference between transfer duty and transfer costs?
Transfer Duty is legislated tax payable to SARS by the buyer, when purchasing property.
Transfer costs are the fees payable by the buyer to the transferring attorney or conveyancer.
What is an OTP?
The “Offer to Purchase” is the document a buyer fills out and the seller accepts. It starts the ball rolling with the transfer of ownership when buying or selling property. This legally binding document sets out all the terms of the purchase of property and is what the transferring attorney uses to ensure all parties fulfil their obligations.
What is a title deed?
A title deed is a registered legal document which proves ownership of a specific property.
What personal information does an attorney require from a seller and purchaser?
FICA documents: identity documents, proof of physical address, proof of marital status (in or out of community of property) and income tax numbers.
What other information is required from a seller?
If the seller has a bond registered over the property: the existing bond account number – to request bond cancellation requirements.
Details of Municipal account number/s, of the Homeowners Association and/or of the Body Corporate – to request clearances.
What are “clearances” and why are they required for a transfer of ownership of a property?
The Municipal-, Homeowners Association- and/or Body Corporate clearances are proof that the new buyer will not be liable for any debits owed on the property by the seller.
What is a Deeds Office Search?
It is online information on registered properties from the Department of Rural Development and Land Reform, at any of the 11 Deeds Offices in South Africa.
What does the conveyancing/transfer attorney do?
The conveyancing attorney is attending to the registration and legal transfer of ownership of immovable property in the Deeds Office.
What does the bond attorney do?
The bond attorney is responsible for the registration of the bond in the buyer’s name, over the property.
What does the bond cancellation attorney do?
The bond cancellation attorney is responsible for the cancellation of the existing bond of the seller over the property
Who appoints the bond attorney?
The bond attorney is appointed by the bank that granted the home loan.
Who appoints the conveyancing/transfer attorney?
The conveyancing/transfer attorney is appointed by the seller
What costs are payable for the transfer of a property?
- Transfer duty, payable to SARS, by the buyer.
- Rates clearance certificate, payable to the Municipality by the seller.
- Transfer fees, payable to the transferring attorneys, by the buyer.
- Bond registration fees, payable to the bond registration attorneys, by the buyer.
- Bond cancellation fees, payable to the bond cancellation attorneys, by the seller.
- Costs for issuing an electrical compliance certificate, payable to the electrician, by the seller.
- Agent commission, payable to the estate agent, by the seller.
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