Glossary

Property Law and Conveyancing Glossary

There are 32 entries in this glossary.
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Glossaries

Term Definition
Cancellation Attorney

This attorney attends to the cancellation of the seller’s bond and is appointed by the bank which holds the current mortgage bond.  Afrikaans - Verband Kanselasie Prokureur

Cancellation Attorney

This attorney attends to the cancellation of the seller’s bond and is appointed by the bank which holds the current mortgage bond.

Cancellation Figures

Outstanding amount on the mortgage interest and any other costs required to settle the mortgage bond. Afrikaans - Kanselasie Syfers

Capacity

The capacity to act, that is, the ability to perform legal acts, for example, the conclusion of a contract (compare with ``legal capacity'' below)

Capital Gains Tax

Tax All taxpayers are taxed by the government on the profit they make from the sale or disposal of an asset such as property. Afrikaans - kapitaalwinsbelasting

Capital Redemption

Repaying the capital amount in addition to the monthly bond repayments. Afrikaans - Kapitaaldelging

Cash Flow

The amount of cash derived over a certain period of time. Afrikaans - Kontantvloei

Caveat

A notice or warning entered by the Registrar of deeds in the deeds registry database. It indicates a possible prohibition on dealings with the property or a possible restriction on the capacity of the registered holder of the right to act e.g. a provisional sequestration order

Cession

A document signed by the borrower ceding their life policy to the bank as surety for a mortgage. Afrikaans - Sessie

Cession

The transfer of a right (a claim or a real right) by the holder of the right (the cedent) to the person who takes transfer of the right (the cessionary).

Clearance (municipal)

A receipt issued by a local authority as proof of payment of taxes and levies contractual

Clearance Certificate

Issued by the relevant authority stating that the rates or levies for the property have been paid up to a future date. Afrikaans - Klaringsertifikaat

Close Corporation (CC)

A business entity registered in terms of the Close Corporations Act 69 of 1984. A maximum of ten natural people can be members of a CC. It may conclude agreements of sale or leases in it’s own name. Afrikaans - Beslote Korporasie (BK)

Code of Conduct

A set of ethical rules drawn up by the Estate Agency Affairs Board to regulate estate agents’ ethical conduct. Afrikaans - Gedragskode

Collateral

The amount of security provided to secure a mortgage bond. Afrikaans - Kollaterale

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