We often get asked by our clients what types of attorneys are typically involved in the sale and purchase of property. Here’s more information about the attorneys (conveyancers) typically involved in a transaction:
Transferring attorney
The transferring attorneys, usually appointed by the seller, attend to the transfer of ownership from the seller to the purchaser and attend to all the administrative, financial and legal steps required to enable the transfer of ownership. This includes applying to different stakeholders, including but in no way limited to the council etc to obtain rates clearance Certificates, SARS, as well as collaborating with the bond and bond cancellation attorneys.
Bond cancellation attorney
This is applicable where a seller has an existing bond over the property that has been sold, which therefore needs to be cancelled. These attorneys are appointed by the bank/bondholder. The cancellation attorneys provide the transferring attorneys with the settlement figures in respect of the bond, which are to be paid from the sellers proceeds on registration (but secured beforehand via guarantees from the bond attorneys). The fee that the cancellation attorneys charge are (usually) deducted from the sellers proceeds and paid to them by the cancellation attorneys on registration. Their fee is determined by the Legal Practice Council.
Bond registration attorney
Once the purchaser has obtained bond approval, the bank appoints and sends the bond instruction to their appointed attorneys. The bond attorneys attend to the bond registration in favour of the bank/bondholder and ensure that all administrative and financial aspects have been performed in respect of the bond, such as issuing guarantees, to the satisfaction of the bank. Their fee is based on the bond amount and is determined by the Legal Practice Council.
Pagel Schulenberg Conveyancing Attorneys
We know that selling or purchasing a property is one of the biggest financial commitments one can make. The conveyancing process is intricate and can seem particularly daunting to people who are new to the process of buying or selling. Having the correct advice and assistance from a professional in the field is thus vital to ensure a smooth transaction. Our Conveyancing department’s professional team is always available to attend to the transfer of immovable property throughout South Africa.
Our Conveyancing services include:
- Attending to property transfers, including property transfers in divorce matters and deceased estates
- Drafting and registering contracts of sale for property transfers
- Providing general legal advice on property-related matters