Property Law and Conveyancing Glossary of Terms
A breakdown of how much interest and insurance was paid, as well as total repayments to the home loan account over a certain period. Afrikaans - Belastingsertifikaat
A person who occupies a property, but does not own it and pays rent in return. Afrikaans - Huurder
A property development where occupancy time is sold.
A document that gives evidence of an individual's ownership of property. It includes the following information about the property: names of the current and previous owners; a full description including it’s square meterage; the purchase price paid by the existing owner; all conditions restricting the use; and all limited real rights registered. Afrikaans - Titelakte
Costs payable for the registration of a property and include transfer duty, conveyancing fees, and registration fees. Afrikaans - Oordrag Koste
A tax levied by the government on the transfer of land. If the purchase price includes VAT no transfer duty is payable. Afrikaans - Hereregte
Appointed by the seller to attend to the transfer of the property into the name of the buyer. Afrikaans - Oordragprokureur
The separate interest bearing accounts used when attorneys and/or realty companies hold money for people, until these monies and interest have to be paid out to whom they are owed.
A person appointed to manage the affairs and assets of a trust. In terms of sectional title, the trustees attend to the day-to-day running of the scheme, which includes the collection of levies and the employment and management of staff.
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