How Long Does It Take To Transfer A Property In South Africa
What is Property?
Property is anything tangible or intangible over which a person or business has a legal title. Read about real, private, and government-owned property.
How Long Does It Take To Transfer A Property In South Africa
On average, the process takes around three months from the date of sale until the property is registered in the new owner’s name. However, certain external aspects can delay the process such as waiting for a stipulated condition in the contract to be fulfilled or obtaining a rates clearance certificate.
Frequently Asked Questions
How long does it take to transfer the property?
It usually takes four to six weeks to complete the legal processes involved in the transfer of title.
How long does transfer of property take after lodgement?
This ‘transfer of property’ process includes the lodging of the title deed in your name at the deeds office. The lodging of the title deed usually takes about 7 to 10 days. Once it is verified, the Registrar of the Deeds Office signs off on it, and the title deed is officially lodged.
How long does transfer of property take at Deeds Office?
The deeds office usually takes 2 — 3 weeks to process the documents, though this can fluctuate depending on circumstances. If the process goes smoothly then it can be concluded in a mere 7 to 8 working days, while in the case of a bottleneck, it may take as much as two months.
How do I transfer ownership of a property in South Africa?
According to South African law, a property can only be transferred once all municipal charges and associated costs have been paid in full to the relevant parties. Once this is done, a rates clearance certificate will be issued by the local council.
How long does Land Registry take to transfer ownership?
The Land Registry advise that processing times for updating the register (adding a mortgage or changing ownership) take about 4 to 6 weeks, and creating a new register (transfer of part or new lease) take about 6 to 9 months.
How long does registration of property take in South Africa?
It currently takes around 7 to 8 working days for registration in the Deeds Office. Below is a guideline of the typical process a deed will follow after lodgement at the Deeds Office. South Africa has one of the best deeds regisration systems in the work allowing for the maximum protection of the property owner.
Who pays transfer fees in South Africa?
Transfer costs are paid by the buyer of the property, to a conveyancing attorney who is appointed by the seller of the property. This is one of the additional costs incurred by the buyer, which also includes bond registration costs, rates and levies, and insurance.
How long does it take to prepare transfer documents?
On average, the process takes around three months from the date of sale until the property is registered in the new owner’s name. However, certain external aspects can delay the process such as waiting for a stipulated condition in the contract to be fulfilled or obtaining a rates clearance certificate.
Can you transfer property without a lawyer in South Africa?
In terms of Section 15, read together with Regulation 44 of the Deeds Registries Act, 47 of 1937, all deeds and documents requiring registration in the Deeds Office must be prepared by an attorney, notary or conveyancer.
How do you avoid transfer fees?
Avoid wire transfer fees
- Select a financial institution or account that waives wire transfer fees.
- Use a payment or money transfer app to send money for free.
- Send a check (if time permits).
- Send money using online bill pay, possibly for free.
- Initiate a wire transfer through a checking, money market or savings account.
How do you avoid transfer fees?
- Select a financial institution or account that waives wire transfer fees.
- Use a payment or money transfer app to send money for free.
- Send a check (if time permits).
- Send money using online bill pay, possibly for free.
- Initiate a wire transfer through a checking, money market or savings account.