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WCLawyer, Attorney
Category: South Africa Law
Satisfied Customers: 15597
Experience:  L.LB (UOVS)
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I am buying a CC at a zero rated vat rate. There is a property

Customer Question

I am buying a CC at a zero rated vat rate. There is a property owned by the same CC and registered in the CC's name involved. Do I have to transfer the property at the Title Deeds office or does the property just stay part of the CC only with new members registered in the CC. Will there be transfer costs and how much. The purchace price is R1 500 000. Both seller and buyer is registered for Vat and the CC is sold as a going concern.

Dion Coertzen
Submitted: 5 years ago.
Category: South Africa Law
Expert:  WCLawyer replied 5 years ago.

Good day.

This is an info request to assist you better. Please continue on this thread.

Is this a residential or commercial property?

Customer: replied 5 years ago.
It is an operating farm.
Expert:  WCLawyer replied 5 years ago.

Since it is not a residential property, no Transfer Duty should be payable. You also don't have to transfer the property. It will simply remain within the CC.

Expert:  WCLawyer replied 5 years ago.
Do you have any follow up questions?