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Question
Posted by: Alsion | 2011/03/09

Transfer costs

Hi.

Please advise me. We own 2 properties that are in both of our names. In the settlement agreement, we will become the sole owners of 1 property each. Will we have to pay transfer costs?

Thanks

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Our expert says:
Expert ImageFamily law expert

If you have acquired your spouse`s share of a previously jointly owned property after your divorce, in a divorce, you need to submit a written application to the Registrar to endorse on the Title Deed that you alone are entitled to deal with the property.

Once the Title Deed has been endorsed in this way, you will be entitled to deal with the property as if you had taken formal transfer or cession into your name of your former spouse`s share of the property.

There are duties payable, best will be to consult and attorney.


Bertus Preller
B.Proc; AD Dip L Law
Family Law Attorney
Abrahams and Gross Inc.
Established 1935
1st Floor, 56 Shortmarket Street, Cape Town, 8000
O: +27 (0) 21 422 1323
Direct Fax: 086 572 8373
C: +27 (0) 83 443 9838
E: bertus@divorceattorney.co.za
W: http: www.divorceattorney.co.za
Twitter: www.twitter.com/edivorce
Facebook: www.facebook.com/divorceattorneys

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2
Our users say:
Posted by: GT | 2011/03/14

HI
Yes you will have to re-register the property solely in your name, if a bond is needed you will have to re-apply
A reduction in attorney fees and bond fees will be less as the one half of the bond is already in your name.

Reply to GT
Posted by: family law expert | 2011/03/12

If you have acquired your spouse`s share of a previously jointly owned property after your divorce, in a divorce, you need to submit a written application to the Registrar to endorse on the Title Deed that you alone are entitled to deal with the property.

Once the Title Deed has been endorsed in this way, you will be entitled to deal with the property as if you had taken formal transfer or cession into your name of your former spouse`s share of the property.

There are duties payable, best will be to consult and attorney.


Bertus Preller
B.Proc; AD Dip L Law
Family Law Attorney
Abrahams and Gross Inc.
Established 1935
1st Floor, 56 Shortmarket Street, Cape Town, 8000
O: +27 (0) 21 422 1323
Direct Fax: 086 572 8373
C: +27 (0) 83 443 9838
E: bertus@divorceattorney.co.za
W: http: www.divorceattorney.co.za
Twitter: www.twitter.com/edivorce
Facebook: www.facebook.com/divorceattorneys

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