How long should it take a conveyancer to effect registration of a “typical transfer” of a residential property?
South Africa, in fact, has one of the most complex (and best) systems of land registration in the world. Conveyancers must be qualified attorneys and write a further exam to qualify as conveyancers. The downside of the complexity of our system is that the transfer process takes time. The upside is that it provides extremely secure land tenure. In other words once a property is registered in your name your ownership thereof is guaranteed.
What most people do not realise is that the speed at which a transfer is effected is not solely dependent on how fast the conveyancer processes the necessary transfer documentation. The conveyancer in registering a transfer must interact with a number of persons and bodies such as the seller and purchaser, the banks, the municipality, the deeds office, the Receiver of Revenue and other firms of attorneys. The speed with which a conveyancer is able to effect a transfer is significantly influenced by the performance and co-operation of these other persons and bodies.
A typical transfer is one in which the property must be transferred to the purchaser, the existing bond over the property cancelled, and a new bond registered over the property. Typically such a transfer will take approximately 2 months from the signing of the agreement of sale. However it is not uncommon for a transfer to take slightly longer. But generally, registration will not take longer than 3 months unless there are unexpected complications and delays.
(Disclaimer: This article is for information purposes only and do not constitute legal or other professional advice)
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