The Role of the Conveyancing Attorney

A professional conveyancer - who may also be referred to as a conveyancing attorney or conveyancing solicitor - assists with the property transfer process by ensuring that his or her client meets the legal obligations, and that their client is protected during this transaction.

What is the role of the conveyancer?

When immovable property is sold, it has to go through a registration process before ownership of the property can change hands.
In order to complete this process, the title deed needs to be transferred into the new owner's name to ensure the certainty of the owner's title to the property that he or she has had purchased, and this would require the service of a conveyancing attorney.

A new deed of transfer needs to be drawn up and registered each time property is sold, and there are three conveyancing attorneys involved in the property transfer process:

  1. The Transferring Attorneys - Their role is to represent the seller and transfer the property from the seller to the buyer. They are generally appointed by the seller.
  2. Registering (or Bond) Attorneys - They represent the buyer, but they are appointed by the bank that grants the buyer a home loan.  Their role is to register the bond of the property in favour of the bank that is financing the purchase.
  3. Cancellation Attorneys - They are appointed by the bank who decides to cancel the seller's bond. They also cancel the seller's existing home loan on the property.

What can you expect from your conveyancer?

When appointing one of the three conveyancing attorneys, keep in mind that a conveyancer should:

  • Protect the rights and interest of his or her client, at all times.
  • Inform his or her client of the conveyancing procedure, and keep them updated on the progress of the transaction.
  • Advise his or her client on the content of the Offer to Purchase.
  • Advise his or her client on the cancellation of the bond, penalties, notice periods and any other charges that may affect the settlement amount.
  • Obtain his or her client's instructions before making promises in respect of the transaction.
  • Do everything in his or her power to have the property registered and the transaction completed as soon as possible.
  • Meet with clients to explain and sign the necessary documentation in order to conclude the transaction.
  • Prepare the deeds for lodgement in a way that minimises the risk of rejection of the documentation by the Deeds Office

Van Deventer and Van Deventer Incorporated | Conveyancing Attorneys in Johannesburg and Cape Town

If you are in the property market, whether you are buying or selling, make the right choice by choosing conveyancing attorneys who will ensure that the transfer of your property goes as smooth as possible. Contact Van Deventer and Van Deventer Incorporated today.
 

 

All homebuilders must register under New Housing Bill

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In terms of the new Bill, any homebuilder or developer who undertakes or commissions the building of a home must apply for registration with the National Homebuilders' Regulatory Council (NHRC)

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Posted by Cor van Deventer on Wednesday, November 13, 2019 Views: 65