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
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?
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