Transfer Duty

A government tax paid when property ownership is transferred. Not all property types attract the same rates or thresholds.

Levy

A recurring fee paid to the body corporate for maintaining shared spaces in sectional title properties.

Title Deed

The legal document confirming your ownership of a property, registered with the Deeds Office.

Sectional Title

A form of ownership where you own a unit within a shared building or complex, not the land itself.

Bond Registration

The official process of registering a mortgage loan with the deeds office in South Africa.

Rates and Taxes

Municipal fees levied on property for local services such as refuse collection, water, and street maintenance.

Offer to Purchase

A legal agreement in which you make an offer on a property, often subject to certain conditions.

Zoning

The local authority’s rules on what activities are permitted on a property (residential, business, etc.).

Occupancy Certificate

A certificate issued by the municipality confirming that a newly built or altered property is fit for occupation.

Rental Yield

A measure of annual rental income compared to the property’s value, important for comparing property with other assets.