The transfer of property is the change in ownership of property, which is registered in the Deeds Registry for the area in which such property is situated.
Property can be transferred to an individual or a legal entity, such as a company, close corporation or trust.
The transfer process, known as conveyancing, is attended to by a conveyancer, who is an attorney specifically qualified in this field of law.
The transfer of property is effected in compliance with contract (eg. agreements of sale, deeds of donation, agreements of exchange etc) or court orders (eg. divorce orders) or in some cases by operation of law (eg. expropriation). The conveyancer's duty is to implement the terms of the contract or court order, prepare all the necessary legal documentation, co-ordinate the transactions to be registered simultaneously with the transfer, such as a mortgage bond, and register the transfer in the Deeds Registry. Upon such registration ownership passes. It is therefore very important that an owner wishing to pass transfer of a property, appoint a conveyancer of his/her choice to whom he/she can entrust this specialised process and to look after such owner's interests.
It is important to note in the case of a sale transaction, the agreement will generally provide for the purchaser to pay the costs of transfer, including the legal fees payable to the conveyancer, although the property owner has the right to appoint the conveyancer.
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