I have a bond for a house that I am stil...

Asked by Jacob on 06-04-2021 15:53:46
Question posted in the Property Law category relating to Gauteng

I have a bond for a house that I am still paying for from 2013. It is registered in my name only. I would like to have my wife's name also included in the registration. We are married out of community with accruals (ANC).

What process should be followed to have the bond registered in both our names and what costs will we be liable to pay.

Answer to the Question

Posted by Andrew on 07-04-2021 09:50:20

Hi there,

I see that you haven't made a payment for the question, but I'm going to assist you a little. If you want to ask a follow-up question, please make the required payment.

What you want to achieve will be expensive, because you will need to effectively "sell" half of the house to your wife. You will need to pay transfer costs, and transfer duty. You will then need to get the bank to consent to the sale, and renegotiate the loan agreement, and the bond registration. You might be looking at over R100k to get this done. Are you sure that you want to do this?

Att. Patrick 

Please remember this is a dialog if you have follow-up questions please make the required payment, then use the REPLY button and ask your further question. I would like to continue assisting you, but I need to concentrate on people who make payments for their questions.

If you would like to view the entire answer, you will need to either login or register a FREE account.

Disclaimer

DISCLAIMER: Advice or answers from Lawyers on SA Legal Advice are not substitutes for the proper advice of an Lawyer. SA Legal Advice is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Lawyer who assists with your question is not your Lawyer, and the response above is not to be considered to be legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains. The responses above are from individual Lawyers, not SA Legal Advice. The site and services are provided “as is”. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service.