Web Bytes

Web Bytes 299

Deeds office strike: more bad news for property
RealEstate web - South Africa
Current turnaround time for deeds is 13 - 14 working days, going to get worse.

The nationwide civil servants' strike has hit the property market with workers at deeds registry offices around the country joining the strike.

According to Shelley Feldman, an attorney and director at Strauss Daly Incorporated, they were advised on August 16 by the Deeds Office that the current turnaround time for deeds was 13 - 14 working days - that is from the time deeds are lodged until the deeds have been through the full examination process and are up for registration. She notes that the regulation time should be 10 working days.

However from Thursday (August 19), only conveyances registering matters that were handed in the previous day for registration were allowed access to the building. Clerks and members of the public were denied access to the building. As such the deeds office took in no new lodgments and all firms received no new advice of matters that are up for registration.
RealEstate web

Conveyancing Lawyers Under Threat From Banks
UK Newsreporter - UK
Small town conveyancing lawyers are under threat from big banks like Lloyds and Santander who are removing many small legal practices from their conveyancing panels. These two banks and several building societies are seeking to become more efficient by reducing the number of legal practices they rate for house conveyancing.

Small legal practices, which form about 85 per cent of Britain's 11,000 law firms, are already suffering from the effects of cuts in the legal aid system that have reduced the amount of family-related cases. Now this rationalisation by the banks and building societies threatens the bread-and-butter work which is the financial backbone of many local solicitors.
UK Newsreporter

Legal eagles not flying so high
Irish Times - Ireland
PROFESSIONAL FEES: Some professions don't seem to realise that we're living in deflationary times and a report by the National Competitiveness Council has found that legal costs remain high

WE ARE LIVING in an era of deflation which is unprecedented in modern times but while the prices of most goods and services have fallen precipitously in the last two years, the fees charged by many among the professional classes would - on the surface at any rate - appear to be holding firm.
When it has come to criticism of fees, it has been doctors and dentists who have taken most of the flack in recent months largely because of a woeful lack of price transparency, massive differences in the fees charged by practitioners operating around the country and the impossibility of avoiding their fees.

You can do without an accountant or an architect if you absolutely have to - by doing your books yourself or not going ahead with a proposed extension - but it is much harder to dispense with the services of your doctor or dentist because when you're sick, you're sick.
Irish Times

How the Bond Registration Process Works
Private Property - South Africa
You have finally found the perfect house for sale after weeks of checking property websites and driving up and down the city. Don't let the bond registration process get in the way of your excitement. While all the jargon might be overwhelming, the best way to approach the process is step by step.

There are a number of people that will be involved in the bond registration process. They are the buyer (you), the seller, the estate agent, a transferring attorney, a bond attorney and a cancellation attorney. There are some cases where one attorney can be responsible for the whole process. The transferring attorney is appointed by the seller. He will ensure that the property gets transferred to your name. The bond attorney is selected by the bank in charge of your bond while the cancellation attorney is appointed by die bank in charge of the seller's bond.
Private Property

Leave a comment:

Security Picture (click to change)
Word shown in picture:
menu close

Search Articles