Whether you purchase or sell properties in Gauteng, making use of experienced bond registration, cancellation, and transfer attorneys is essential to prevent unnecessary delays and costs. To this end, you will appreciate our years of experience in conveyancing and our ability to handle all three aspects of property transfers in Gauteng:
- Bond cancellation
- Bond registration
- Conveyancing (property transfer)
We serve on the panels of all major banks in South Africa, and handle hundreds of bond registrations and cancellations. Our team in Gauteng keeps clients up to date regarding the transfer progress. They are able to handle all aspects of the transfer process.
Bond Registration Process
When the purchaser wants to buy property by using a home loan, then a bond must be registered on the property. The buyer applies for a bank loan and the bank notifies the attorneys, who prepare the documents to effect the registration. The client signs and the attorneys ensure that the bond is linked to the transfer. The bond is registered by the bond attorney, and when the ownership is registered, the property transfer from seller to buyer is done. The seller’s existing bond is cancelled, and the buyer’s bond is registered in favour of the lending institution. The lending institution keeps the title deed until the bond is paid up.
Bond Cancellation Process
Even if the seller’s bond is paid up at the bank, it only reflects against the title deed when the cancellation is registered at the Deeds Office. To this end, the bond cancellation, bond registration, and transfer attorneys in Gauteng must communicate to ensure documents are supplied in time, guarantees are provided within the allowable timeframe, and the various processes completed at the Deeds Office. With our team able to handle the entire process, time delays because of communication issues are limited.
The transfer process is complex. It is essential to ensure documents are provided when requested, clients are contacted for signatures, and the conveyancing process properly coordinated for a seamless property transfer, especially where one bond must be cancelled and another registered.
Having an experienced team of attorneys to handle all the functions ensures a seamless process. Get in touch with our team to handle bond cancellation, registration, and transfer functions. Combined, we have more than 300 years’ experience in the above. In addition, we optimise the usage of technology available to ensure good control over the transfer process and progress monitoring.
Note: this article is for information purposes only and does not constitute legal advice. You are advised to consult with us before using/relying on this information. Information is relevant to the date of publishing.