How Much Does It Cost To Transfer A House Title In South Africa?
| Value of property (R) | Rate |
|---|---|
| 1 375 001 – 1 925 000 | R11 250 + 6% of the value above R1 375 000 |
| 1 925 001 – 2 475 000 | R44 250 + 8% of the value above R1 925 000 |
| 2 475 001 – 11 000 000 | R88 250 + 11% of the value above R2 475 000 |
| 11 000 001 and above | R1 026 000 + 13% of the value above R11 000 000 |
How much does it cost to change ownership of a house in South Africa?
The Transfer Duty Rates for 1 March 2020 to 28 February 2021
From R 1 000 001 to R 1 357 000, the transfer duty is calculated at 3% of the value above R 1 000 000.
From R 1 375 001 to R 1 925 000, the transfer duty is calculated at 6% on the value above R 1 375 000 PLUS a flat rate of R 11 250.
How much does it cost to change a title deed in South Africa?
The R4,500 fee which the municipality says you have to pay is probably transferred duty.
This could involve a lawyer, called a conveyancing attorney, who transfers the title deed of the house from your mother’s name into your name.
How do I transfer my house deed to a family member in South Africa?
The transfer of the property is usually in the form of a donation (a gift) or the sale of the property to the child.
A written contract must be entered into between the parent and child, or family members.
How do you transfer a house?
Before you can transfer property ownership to someone else, you’ll need to complete the following.
Identify the donee or recipient.
Discuss terms and conditions with that person.
Complete a change of ownership form.
Change the title on the deed.
Hire a real estate attorney to prepare the deed.
Notarize and file the deed.