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21 January 2010

See the first question and its answer in Questions posed.

Transfers in the Deeds office must follow the sequence of their relative causes and therefore the transfer from the company to the shareholder must be registered prior to the registration of the transfer from the shareholder to the purchaser. By way of example: The property is registered in the name of company (X) of which B is the shareholder. B intends retiring in 6 months time and instructs an agent to find a purchaser (C) for the property. The agent finds a purchaser and a deed of sale is entered into between B and C.

The following transfers have to be effected in the deeds office: firstly, the transfer from company X to shareholder B. Secondly, the transfer from shareholder B to purchaser C. These transfers can be registered as part of the same batch and there is therefore no requirement that the property must first be registered in the name of B before he enters into a sale agreement with C. (It goes without saying that B at all times has to meet all the other requirements.)

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