The author and sponsor of legal advice:
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For years there has been a much-documented gap between the supply and demand of housing in the UK. This has manifested itself in a stable, if not sometimes buoyant, market that is attractive for domestic and overseas investors alike.
For most domestic purchasers their first port of call is the local estate agent who is entrusted with marketing a property. Even if the property itself is found on one of the increasingly popular property search engines, it is the estate agent who is responsible for arranging viewings and, most importantly, submitting the offer to the seller. If purchasing from overseas, your own agent will act as an intermediary with the agent responsible for marketing. At this stage there is no need to have a solicitor involved
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The author and sponsor of legal advice:
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A person may own property in South Africa either partially or wholly, in their own name or through ownership of a variety of legal entities. The most common form of property ownership is freehold, that is in one's own name. Property may also be held through share ownership in companies, through holding membership in a Close Corporation or as a beneficiary in a Trust. The decision, on which form ownership would take, would depend on various issues with regard to tax, transfer duty or the protection of assets.
It is widely accepted that South Africa has one of the best Deeds Registration Systems worldwide, with an exceptional degree of accuracy and security of tenure being guaranteed.
The registration of property in South Africa is by way of a transaction, which is handled by a specially qualified legal practitioner known as a conveyancer. It is a matter of practice for the seller to appoint the conveyancer who will attend to the registration of transfer of a property sold, whilst the costs attendant thereto are for the account of the purchaser, unless contractually agreed otherwise. |
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