The Transfer Duty Act provides for the determination, calculation and administration of the transfer duty, which is applicable when transferring property from one party to another. … [Read more...]
Search Results for: Transfer
Transfer fees linked to purchase price or market value?
I am planning to buy a bond-free residential property from my father at a price well below its market value and would like to know if the transfer fees are determined by the purchase price or the market value. We have agreed on a price that is 20 per cent of the market value because that is the maximum amount I can afford. Thank you, Transfer Fees Poser See what the experts have to … [Read more...]
Transfer of ownership ends obligation to pay occupational rent
A reader who sold a fixed property wants to know if occupational rent is payable until the date of cancellation of the bond or until the date of registration of transfer. … [Read more...]
Transferring half-share in a property to daughter
I jointly own a property with my ex-husband, who wants to give his share to our daughter. The value of the property is about R650 000 and the amount owing on the bond is R26 000. Can you advise what costs will be involved to have the bond registered in her name. Thank you, Mortgage Management See what the experts have to say. … [Read more...]
Incomplete property transfer creates ownership fiasco
A reader would like to know how to resolve a situation where the transfer on a property purchased by his dad was never completed and the "bond repayments" were actually for occupational rental. … [Read more...]
Issues in resolving an incomplete property transfer
After my father purchased a property through a home loan, all the documents were handled through lawyers and the estate agent. Being careful in nature, he opted to add in credit insurance and his repayments were approximately R16 000 per month. My father was then medically boarded and he provided all the details to all his creditors. Everything was resolved except for the home loan. The … [Read more...]
Is it a legal requirement to transfer property to wife when I die?
I own a property estimated at R2-million and have a number of queries regarding the arrangements for it in the event of my death. Is it a legal requirement to transfer it into my wife's name and, if so, how are the transfer duties calculated and what would they be on a property of this value? Does the transaction have to be done by an attorney and what does that cost? Finally, how soon … [Read more...]
Must fixed property be transferred to wife after death?
As the owner of a fixed property, a reader is making arrangements in respect of his will and wants to know what his options are in terms of the asset. … [Read more...]
Bequeathing property: When should I transfer?
I am leaving my house to my son as inheritance. We would like to know what the transfer cost will be and whether it will be better if I transfer it now or only after my death. Thank you, Property Owner See what the experts have to say. … [Read more...]
When is the best time to transfer inherited property?
Wanting to leave his fixed property to his son, a reader would like to know if it is better to transfer the property while he is alive or upon his death. … [Read more...]
Transfer costs applicable when executor is beneficiary
The beneficiary of a fixed property, who is also the executor of the estate, would like to know what costs are involved in transferring it into his name. … [Read more...]
What are transfer costs when executor is beneficiary?
I am the beneficiary of a fixed property and have also been appointed the executor of the estate. The property is worth about R850 000 and I would like to know what costs are involved in transferring it into my name. I have been advised that the property will have to be transferred from the deceased estate to me, as executor, and subsequently to me in my personal capacity. Can you advise … [Read more...]
Clearance certificate essential to property transfer
A reader is trying to obtain a levy clearance certificate for a flat belonging to his late aunt but wants to know who to contact after the body corporate apparently ceased to operate. … [Read more...]
Charges for transferring inherited property
A reader has inherited the estate of her life partner and she would like to know what costs are involved to transfer the property into her name, as well as any other costs which may arise. … [Read more...]
Can mother transfer property to daughter?
My 82-year-old mother has indicated she would like to transfer her property into my name before she passes on. I am an only child. Can you tell me if this is legal and what costs might be involved? Thank you, Property Transfer Beneficiary See what the experts have to say. … [Read more...]
Transferring fixed property to family member
An elderly woman wants to transfer her fixed property to her daughter before she dies and the daughter would like to know the implications of the move. … [Read more...]
How do I transfer an inherited property?
Here is a scenario I need advice on: My grandfather died a few years ago. On his will he mentioned that his estate should be transferred to my grandmother and subsequently to my uncle (grandfather’s son) on the death of my grandmother. Both my grandmother and uncle passed away before the transfers were even effected respectively. In a situation like this, what should happen and how much … [Read more...]
Inherited property: transfer and executor’s fees
A reader, who is left with his grandfather's property after all the named heirs have passed away, is asking about the transfer process and fees payable to the executor. … [Read more...]
