What is a recording mortgage fee?

The term recording fee refers to an expense charged by a government agency for registering or recording the purchase or sale of a piece of real estate. Recording fees are generally charged by the county where the transaction takes place since it maintains records of all property purchases and sales.

What is recording in mortgage?

When you buy a home, the transaction is public. Recording means filing your deed and / or mortgage with your county. The document is date and time stamped, and may be uploaded to a web site for the public. You pay recording fees at closing when you sign your final documents.

How does a conveyancer prepare a property transfer document?

The Conveyancer (or attorney) will then prepare the transfer documentation once the suspensive conditions have been fulfilled and send the draft Deed and guarantee requirements to the Bond Registration Attorneys. It will now be time for signing the actual transfer documents between the Purchaser and Seller.

When does a court order cause a property to be transferred?

Transfer arising from prescription- This refers to a transfer in terms of a court order whereby ownership is granted to one person due to their adverse occupation or possession of the property as if they owned it for a period of 30 years without interruption from its registered owner.

What does Section 45 of Deeds Registries Act apply to?

However, if the parties were married in community of property, the transferee (party receiving the property) will apply in terms of Section 45 of the Deeds Registries Act for the property to vest in his/her name.

Who is responsible for the transfer of property?

The bond registration attorney is the attorney that registers the purchaser’s bond over the property. The purchaser is responsible for his/her bond payments. The costs relating to the transfer of property are: transfer duty to SARS;