13/11/2015
Our Services consist of:
ESTATE PLANNING
Estate planning is essential for every individual and our professional team will be able to advise clients on the most favourable ways to structure your estate. Estate planning involves a number of services amongst other Ante Nuptual Agreements, Wills and Trust, all of which we will be able to assist you with.
Ante Nuptual Agreement
A properly drafted Ante Nuptual Agreement is essential for every entrepreneur. An Ante Nuptual Agreement is the first step in planning your estate.
Wills
How your assets will be divided amongst your heirs after your death is dealt with in a Will. Your Will is one of the most important documents you will sign and should not be drafted without the knowledge of the applicable laws. Depending on the size of your estate more planning than just a Will may be necessary.
Anyone can draw a Will, but should the formalities not be adhered to, your Will may be found as invalid and will leave your heirs at the mercy of the Law of Intestate Succession. The same will be applicable if you have no Will at all. Should any of your heirs be minors can have serious consequences. In intestate estates, inheritance due to minors is held in the Guardian's Fund administered by the Master of the High Court paying out annually a certain amount in respect of maintenance which the child may need. This can result in a financial predicament for the surviving spouse or the children's guardian should urgent funds be required.
We at Van Zyl's Incorporated has all the know how to draw a legal Will and has vast experience in the administration of deceased estates in the least time in the interest of the heirs.
Trusts
A trust, if administered correctly, can be a major role player in estate planning. A trust is a stipulation for the benefit of a third party, where a settler forms a trust for the beneficiaries of the trust.
In terms of current legislation any person may donate annually an amount of R100 000.00 free of donation tax. With the use of a trust you can transfer your assets out of your estate which will have a major impact on estate duty payable in the event of death. You will also have the added advantage that your assets may be protected from creditors.
Most trusts are established during the lifetime of the settler but depending on your needs could have an indefinite lifespan to protect even the beneficiaries thereof.
COMMERCIAL
Our commercial department will be able to assist you in all matters of commercial interest from commercial litigation to drafting of agreements. Amongst others we will be able to assist with the drafting of the following agreements: •Sale of Business Agreements
•Sale of Share Agreements
•Joint Venture Agreements
•Building Contracts
•Lease Agreements
•Shareholder Agreements
•Rental Agreements
•Trusts
•Wills
•Client specific Agreements
LITIGATION
Our litigation department has years of experience to assist in civil and criminal litigation in both the High Court and Magistrates Court within the Republic of South Africa.
Our highly effective team will be able to assist you with divorces, third party claims, collections, sequestrations, liquidations and any other litigation you may be involved in. We are in close contact with a wide range of advocates and other professionals to finalise any litigation in the best possible manner.
Due to the uniqueness of each matter as it concerns the disputes, the complexity thereof, the opponents and their legal representatives the time and costs involved and the outcome may differ from matter to matter.
Contact our attorneys to enquire what litigation services we may be able to assist you with.
CONVEYANCING
Personalised Services •We are linked to the Deeds Office for the capturing of accurate information for drafting transfer and bond documents.
•Regular reporting on transfers and bonds to Sellers, Purchasers, Estate Agents and Financial Institutions.
•We are linked to SARS electronically and receive the rates clearance certificates and transfer duty receipts online.
•We arrange for Levy Clearance Certificates to be issued.
•We can assist with Electrical Clearance Certificates by recommending reputable companies.
•We are on the panel of Standard Bank, Nedbank and First National Bank.
•We have trust accounts with ABSA Bank, Nedbank, Standard Bank and First National Bank for convenience of our clients.
•All investments to be made in terms of Section 78(2A) are made at the best call rate available with Investec Private Bank.
Through the development of highly effective systems and the implementation of measurable operational standards, our conveyancing department has proved to be very efficient in delivering service and quality excellence.
Our conveyancing department is a highly skilled team, who are all qualified to process transactions. They have successfully obtained certificates in the Registration of Bonds and Transfers from the Korbitek School of Training.
Software programmes like Deed Search, Windeed, SearchWorks and Ghost Convey are being used to facilitate the process of conveyancing matters and are supportive and sophisticated market leaders which improve our ability to network with all the major banking groups. This comprehensive system enables us to provide an efficient service whilst professionally concluding all transactions.
Communication with our clients on a regular basis is a priority and this information is reported to them by means of an SMS system and Internet technology. Efficient computer technology enables the production of detailed reports on matters at hand. Continual hardware and software updates as well as training, ensures a smooth running process.
CONVEYANCING PROCESS
Below is a summary of the events and actions taken in the process of conveyancing, i.e. when a property is transferred from a seller to a buyer:
Process for Registering a Transfer •Instructions are received from the property owner. Information and documentation required includes: Copy of the Agreement of Sale, copies of identity documents, marital status, Ante-Nuptial contract, (if applicable), proof of residence, income tax reference numbers of the purchaser and seller. Please note that originals are required at the signing of transfer and or signing of bond documents.
•The seller provides us with the existing bond account number and the name of the bank. The seller's existing bondholder is contacted requesting the title deed and bond release/cancellation figures.
•Rates and taxes or levies are paid in advance so that a clearance certificate from the Municipality / Body Corporate can be lodged at the Deeds Office.
•Cancellation figures and the title deeds are received from the attorneys acting for the bondholders. These figures are based on the actual amounts plus interest to the date of transfer.
•Transfer documents and draft deeds are prepared.
•Draft deeds and guarantee requirements are sent to the new bondholder's attorney for the drawing up of the bond documents and issuing of guarantees.
•The buyer's new bond attorneys are advised of the guarantee requirements.
•The seller and buyer sign the transfer documents.
•Electrical Compliance Certificates are obtained.
•The transfer duty is paid to the Receiver of Revenue and a transfer duty receipt obtained electronically.
•The guarantees are received and forwarded to the seller's existing bondholder with a request that the bondholder sign the consent to cancellation.
•The transferring attorneys, bond attorneys and bond cancellation attorneys simultaneously lodge documents at the Deeds Office.
•Registration takes place, generally 8 - 10 working days after lodgement.
•The consultant, seller and buyer are advised when the property is registered.
•The existing bond is cancelled and repaid, the commission is paid and the seller receives the balance less the deductions e.g. electricity, rates and levies etc.
•Time frame for a straight forward transfer is approximately 8 - 10 weeks.
Process for Registering a Purchaser's Bond •The bond attorneys are instructed by the bank to attend to a new bond registration, they receive these instructions electronically.
•The bond attorneys download the instructions.
•The bond attorneys contact the Purchaser for the relevant documentation to draw the bond documents. For example id's, marriage certificates, if applicable, proof of residence, income tax reference numbers, etc. If a CC, Trust or Company, the attorneys will request the relevant documents such as Deed of Trust, CK 1, CK 2 documents, founding statement etc. Originals are requested at point of signing.
•F**A documents, identity documents and proof of residence, are certified and a F**A form completed and signed which confirms proof of residence and identity of client.
•The bond attorneys receive the draft deed and discharge figures from the transferring attorneys.
•Bond attorneys prepare the bond documents.
•Bond attorneys contact the client to sign and the client receives the proforma bond costs.
•Purchaser pays bond costs.
•Once client signs, the bond attorneys send the guarantees to the transferring attorneys and send the relevant signed bond documents to the Bank.
•These documents will be lodged and registered simultaneously with the transferring attorneys and cancellation attorneys, if applicable.
Process for Cancelling a Bond •Transferring attorneys will request home loan account number from the Seller.
•Transferring attorneys will call for title deeds and discharge figures from the Sellers Bondholder (Bank).
•The Bank will send the discharge figures to the transferring attorneys and will instruct them or another firm of attorneys to attend to the cancellation of the bond on their behalf.
•Once the guarantees have been received, the cancellation attorneys sign the consent to cancellation which is then lodged, together with the transfer and Purchasers bond, if applicable.
•The cancellation, transfer and bond, if applicable will be registered simultaneously in the Deeds Office.
•The day after registration the guarantees are paid out.
Documents Required
For Seller and Purchaser
Single Persons •Copy of identity document or Passport for non residents.
•Proof of current residence for example Utility Bill, Telkom account etc. (valid for 2 months).
•Income tax reference number.
Married Persons •Copy of identity document or Passport for non residents.
•Marriage Certificate.
•Ante-Nuptial Contract (ANC), if applicable.
•Proof of current residence for example Utility Bill, Telkom account etc (valid for 2 months).
•Income tax reference number.
Company •Identity documents of all Company shareholders and directors, or Passport for non residents.
•Memorandum of Articles of Association.
•Name, address and telephone number of Auditors. At a later stage, we may require a letter confirming their appointment.
•Vat registration number of the Company.
•Proof of current residence for all shareholders and directors, (valid for 2 months).
•Proof of registered address for the Company.
•Income tax reference numbers for all shareholders and directors.
•Income tax reference number for the company.
Close Corporations (CC's) •CK1 and or CK2 documents.
•Identity documents for all members or Passport for non residents.
•Proof of current residence for all members, (valid for 2 months).
•Proof of registered address for the CC.
•Income tax reference numbers for all members.
•Income tax reference number for the CC.
•Vat registration number.
Trusts •Identity documents of all the Trustees, or Passport for non residents.
•The Deed of Trust.
•The Letters of Authority from the Master of the High Court appointing the Trustees.
•Income tax reference numbers of the Trustees.
•Income tax reference number for the Trust.
•Proof of residence of the Trust.
•Vat registration number for the Trust.
Mortgage Bonds
Mortgage Bonds
The most common type of mortgage bond is one where a Financial Institution or Bank will lend a portion of, or the full purchase price of a property purchased. The Conveyancer will attend to the preparation of the Mortgage Bond documents to be signed and submitted to the Deeds Office for registration against the property.
Further Bonds
In the event of a client requiring additional finance a further bond can be registered in addition to an already existing bond.
Access Bonds
If a client has a mortgage bond with a Financial Institution or Bank, an Access Bond facility can be arranged. This is an access facility which enables you to access additional funds that you have paid into your bond account. This facility will be linked to a nominated current, cheque or transmission account held with the Bank.
Cancelling your Bond
There are many reasons for the cancellation of a mortgage bond, e.g. full settlement or the selling of your property. When you decide to sell your property, it will be necessary for you to give your bank or financial institution 90 days notice in writing, to avoid penalty charges. It is imperative that you keep proof of this notice.
Calculate your Costs
The purchase of property is levied by the government and there is transfer, legal and admin costs involved for the registration of the property to the new owner as well as the home loan, most of which are due upfront, before transfer can take place. To get an idea of the costs involved in the transfer of your property use our easy-to-use Cost Calculator.
Residential and Commercial Developments
Van Zyl's Incorporated has extensive experience in Residential and Commercial Developments. For many years we have successfully assisted and advised Developers from the planning stage right through the process up to the opening of Sectional Title Register and eventual Registration of Transfer
