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What is Conveyancing and what is the process to be followed?
Conveyancing is the legal process of obtaining registered and lawful ownership of fixed property as well as the registration of mortgage bonds and other rights to fixed property.
It entails the transfer process from the signing of t he deed of sale to the payment of the purchase price and registration of a title deed of the property into the name of the purchaser.
A title deed executed by a conveyancer in the presence of the Registrar of Deeds provides documentary proof of the owners hip in fixed property
A conveyancer is an attorney specially qualified and authorised by the High Court to attend to the registration of the various property transactions. Before being admitted as a conveyancer, an attorney must have attended training cour ses and passed an extensive written examination.
South African law requires that only a qualified conveyancer may attend to the transfer of a property. This helps to safeguard the integrity of the land ownership system in South African, which is arguably one of the best in the world.
The conveyancer’s fee is based on the guidelines prescribed by the Law Society. The guideline fee structure provides for a sliding scale based on the purchase price (transfers) and the mortgage bond amount (bond registrations); or a recommended tariff for other work.
Date: 18th March 2014