In our last article, we looked at the requirements of acquiring immovable property in Zimbabwe. In this article, we look at the central role played by a conveyancer in the process of acquiring immovable property in Zimbabwe. Below is an overview of what a conveyancer does.
| Conveyancer | |
| Definition | A conveyancer is a practicing legal practitioner who has: – specialized in the preparation of deeds and documents destined for registration in the deeds registry; – passed a conveyancing exam; – been admitted to practice by the High Court; and – been enrolled on the register of conveyancers. |
| Duties & Responsibilities | A conveyancer has the following duties to perform: (1) ensure the validity of the agreement of sale. (2) manage financial matters and transaction process – the conveyancer must ensure that he or she has sufficient cash funds and/or guarantees and undertakings to cover the consideration payable. If the property being sold is burdened by a mortgage bond, the conveyancer must ensure that the purchase price is sufficient to cover the capital and interest required to cancel the existing bond or that the seller has alternative funds available, as no property may be transferred unless the existing bonds have been canceled. The conveyancer must ensure that the stamp duty, council rates, capital gains tax, deeds office registration fees, and transfer fees have been paid. The conveyancer must keep the money for the sale of a property transaction in a Trust Account and only released once the transfer process is completed. (3) prepare deeds and documents – guaranteeing correctness of facts, accepting personal liability, and complying with format requirements. In conveyancing terms “to prepare” a deed means to check the contents thoroughly and thereafter sign the preparation clause on the top right of the bottom half of the first page in the prescribed format, to certify the correctness of certain facts. Only a conveyancer can prepare the following deeds: Deed of transfer; Deed of partition transfer; Mortgage bond; Certificates of title; Subdivisional transfer; Sectional title. (4) link simultaneous transactions – If a sale of property transaction involves the cancellation of a mortgage bond or registration of a mortgage bond, all deeds and documents must be presented to the deeds registry at the same time. (5) lodge deeds. (6) execute deeds, on behalf of the transferor, if authorized by a power of attorney. (7) report, account for, and deliver deeds to clients – once registration is completed, the guarantees and undertakings relating to various linked transactions are presented for payment and honored, the conveyancer must account to their clients for the monies received and debit their fees and also deliver the title deeds to the clients or the bank if there is a mortgage bond registered over the property. |
In conclusion, a conveyancer must be involved in any transaction involving the disposal of immovable property, cancellation, or registration of a mortgage bond over immovable property.
The information and opinions expressed above are for general information only. They are not intended to constitute legal or other professional advice. For clarification, assistance, or any questions please contact Lex Amicus, on email at: lexamicus@outlook.com
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