If immovable property is registered in a deeds registry and it formed an asset of a joint estate of spouses have been divorced, and one of them has, in terms of a divorce order acquired the share of his or her former spouse in the property, the registrar may, on written application by the spouse concerned, endorse on the title deed of the property that such spouse is entitled to deal therewith as if he or she had taken formal transfer into his or her name of the share of the former spouse in the property.
Such an application will usually be the result of a settlement agreement.
Transfer in terms of this endorsement is exempted from the payment of transfer duty.
The conveyancer’s fees for a Section 45 endorsement are less than the fees for a conventional deed of transfer.
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Author – Jessica Gooding