We offer the following services to our clients:

Tel:  011 894 5121

Fax:  088 011 894 5270

Email:  sales@bavin.co.za

sales2@bavin.co.za

A Mortgage Bond is an agreement in terms whereof a Mortgagor (Purchaser) borrows money from the Mortgagee (Bondholder) and agrees to pass a Mortgage Bond over specific immovable property in favour of the Mortgagee as security for the repayment of the money. 

The Mortgagor then repays the Capital amount plus interest back to the Mortgagee in terms of the loan agreement.  In most cases the Mortgagee is a Bank or Financial Institution. 

The Mortgage Bond is registered in the Deeds Office against the Title Deed and the Conveyancing Attorney must be appointed to deal with the registration of the Mortgage Bond in the Deeds Office.

Documents to be signed include the following:

· Declaration in respect of Marital Status, Identity Number and Insolvency

· FICA Documents—Proof of Identification, Proof of Address, Tax Number, Proof of Marital Status

· Bond Documents

The fees are prescribed by a tariff and are calculated on a sliding scale based on the purchase price.  The purchaser is usually liable for payment thereof together with VAT thereon.

To view the estimated fees, click on the link above.

To qualify for a further bond, the Mortgagor must be able to provide detail regarding the following:

Capital Growth—has the property’s value increased since the bond was registered.

Growth of Income—has the Mortgagor’s income increased in order to provide payment for an increased amount on the original registered bond amount.

Documents to be signed include the following:

· Declaration in respect of Marital Status, Identity Number and Insolvency

· FICA Documents—Proof of Identification, Proof of Address, Tax Number, Proof of Marital Status

· Bond Documents

The fees are prescribed by a tariff and are calculated on a sliding scale based on the purchase price.  The purchaser is usually liable for payment thereof together with VAT thereon.

To view the estimated fees, click on the link above.

By law, a Conveyancing Attorney is the only person who can register fixed property transfers.  This is necessary to ensure the protection of the various interests the parties have in the transaction and to maintain the high standard applicable to land registration.

The first requirement is a valid Agreement of Sale.  This is a written agreement which is signed by both the Purchaser and the Seller—and by the parties’ spouse in cases where the parties are married in community of property, or account to the laws of a foreign country).  A written “Offer to Purchase” signed by a Purchaser and accepted by a Seller also constitutes a binding agreement.  An oral contract is invalid.

The Agreement of Sale/Offer to Purchase is handed to the appointed Conveyancer, who will draft the necessary documents.  Both the Seller and the Purchaser will be required to call the offices of the Conveyancer to sign the necessary documents.

Documents to be signed include the following:

· A Power of Attorney to Pass Transfer

· Declaration in respect of Marital Status, Identity Number and Insolvency

· Transfer Duty and Value Added Tax (VAT) Declaration

· FICA Documents—Proof of Identification, Proof of Address, Tax Number, Proof of Marital Status

· Bond Documents, should a Mortgage Bond be registered

The fees are prescribed by a tariff and are calculated on a sliding scale based on the purchase price.  The purchaser is usually liable for payment thereof together with VAT thereon.

To view the estimated fees, click on the link above.

Are you divorced?

Should you and your spouse own property together (joint estate) and one person will be taking over the bond as a whole because you are getting divorced, either the Bank or the Person should give instruction for a Section 45 to be put through in order to change the bond into the sole owners name.

Did your spouse/partner pass away?

Once the estate has been finalised, a request for Section 45 should be put through in order to change the bond into the surviving spouse/partner’s name.

A deceased estate comes into being when a person dies and leaves property.  The estate must be administered and distributed in terms of the deceased’s will or if there is no valid will, in terms of the Intestate Succession Act, 66 of 1965.

Documents required in the administration of a deceased estate:

· Death Certificate

· Identity document

· Document support for marital status

· Proof of rights in assets and especially fixed property

· Income tax details

· Details of known liabilities

· Business interests and insurance details.

Aspects that influence the time of finalizing the estate:

· should fixed property in the estate be sold?

· are there minor heirs and dependants?

· is there is enough available cash in the estate?

· are there any objections to the liquidation and distribution of the account?

· is there is a valid will?

An estate is rarely finalised in less than nine months.

A will is a written document which declares what must happen to the property of someone after his or her death. To be valid, this document must comply with requirements prescribed by law and only persons 16 years or older may make a will, unless the person is mentally incapable.  It must be a written document and can not be done orally.

The will must be signed at the end by the testator and if it consists of more than one page, every page must be signed. The will must be witnessed by two competent people signing in the presence of the testator on every page the testator has signed.

Certain people involved in the execution of a will including witnesses, persons who sign at the direction of the testator and persons who write the will in their own handwriting or their spouses may not benefit under the will, with certain exceptions.

In South Africa we have freedom of testation, but this freedom is not absolute.  A person can execute a new will at any time and the new will naturally replaces the older will.

An Antenuptial Contract is a contract entered into by two people prior to their marriage, to stipulate the terms and conditions for the exclusion of community of property between them. The terms and conditions may not be illegal, immoral or contrary to public policy.

Each spouse usually retains his or her separate property and has complete freedom to deal with that property as he or she chooses. If one spouse was declared insolvent, the other's property is protected from the insolvent spouse's creditors, subject to Section 21 of the Insolvency Act.

In terms of South African Law, people can either marry in community of property or out of community of property. Your choice will determine your proprietary rights during your marriage, as well as when it is dissolved - either by death or divorce. You are automatically married in community of property in terms of South African Law if you did not sign an Antenuptial Contract prior to your marriage. The Antenuptial Contract also had to be attested before an attorney who is a Notary prior to the marriage, as only a Notary can execute an Antenuptial Contract.  The contract will then be lodged in the Deeds Registries Office for registration.

“In community of property” means that everything each individual spouse owned and each of their individual debts from before their marriage are put together in a joint estate. From this point onwards everything they earn or buy after their marriage will also form part of this joint estate, including any debt and liabilities incurred by either one of them.

Commercial Agreements include Sale Agreements, be that of immovable property, movable property or incorporial rights.  We are able to assist in partnership or assisting agreements.