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"Declared Value" of a Property | Conveyancing terms

Transfer duty is payable on the higher of the following values with respect to the purchase of property in South Africa::

:The amount of the consideration payable (if applicable)
The declared value (if no consideration is payable);
The fair value.

The "decclared value" of a property is defined in the Transfer Duty Act of 1949 as follows:

'“declared value” in relation to property means the value of the property as declared in the declaration completed in terms of section 14 by the person who has acquired the property;'

Section 14 Declarations to be furnished to Commissioner

'A return appropriate to the manner of the acquisition of property in any particular case shall be submitted by the parties to the transaction whereby the property has been acquired and, if the Commissioner so directs, also by the agent, auctioneer, broker or other person who acted for or on behalf of either party to the transaction or, if the property has been acquired otherwise than by way of a transaction, by the person who acquired the property.'
'Where no suitable form of declaration has been prescribed by the Commissioner for any particular kind of acquisition of property, he may require from any person concerned in the acquisition a declaration setting forth the material facts of the case and containing such other information as he may consider necessary'
' An estate agent as contemplated in section 1 of the Estate Agency Affairs Act, 1976 (Act 112 of 1976), who is entitled to any remuneration or other payment in respect of services rendered in connection with a transaction in terms of which a person acquired property contemplated in paragraphs (d), (e) or (f) of the definition of “property”, must within six months of the date of acquisition of that property submit details of that transaction to the Commissioner in a form and in such manner as prescribed by the Commissioner.'

Declared value on a Deed of Transfer

Property Buy/Sell/Transfer/Usufruct

Property transfer & sale Info

Sellers of property & buyers, speak to a property lawyer before you hire an estate agent!

The property transfer process in South Africa - protect your interests.
Conveyancing lawyers in Cape Town.
- Checklist to help you identify the best conveyancer near you.
- Bellville conveyancing attorneys
- Blouberg conveyancing attorneys
- Milnerton conveyancing attorneys
- Pinelands conveyancing attorneys
- Tableview conveyancing attorneys
Transfer costs calculator for property anywhere in South Africa.
Deeds Registeries Act.
Servitudes
- Usufruct Agreement on Property in South African law.
  - Usufruct value calculator (only one in South Africa)
Land conveyancing
Transfer attorney vs bond attorney.
Commercial Property:
- Transferring property as a going concern.
- Commercial Property conveyancing quote
Marriage/Divorce-related:
- How to transfer property from husband to wife (or vice versa); whilst still married (ie not getting divorced).
  - Donation of property agreement not followed through.
  - When property is erroneously in your spouse's name.
- "Protection" of fixed property using a trust.
- Conveyancers conduct the transfer of property ownership from one spouse to another (or to a third party, if relevant).
- Liquidator to sell property & divide proceeds as part of divorce.
Property sales
- Use conveyancer to guide your private property sale.
- Instead of using real estate agents rather use professional lawyers to sell your property.
- Urgent house sale.
- How to check whether an estate agent is licensed.
- Example of a property sales agreement.
- FLISP Housing subsidies.
- Property practitioner's Act.
- Code to guide conduct of property practitioners.
Property purchases
- Scams property purchasers should watch out for.
- Home loan repayments calculator, with an estimate of the adjustment to prime to reflect the borrower's credit risk profile.
Terminology

Conveyancing & property transfer discussion forum

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