Transfer duty – No surprises – Part 2
![](https://ngllaw.co.za/wp-content/uploads/2022/10/Ft3.png)
The Transfer Duty Act 40/1949 (“the Act”) states that transfer duty (duty) is to be levied on any property acquired by any person by way of a transaction. The Act is clear as to whom and by when the duty is to be paid. It states that the duty shall be payable by the person […]
Demystifying “non-refundable deposits”, “rouwkoop” and “penalty clauses” in sale of property agreements
![](https://ngllaw.co.za/wp-content/uploads/2021/03/Ft3.png)
1. Non-refundable or forfeiture clause Sellers are sometimes sold on the idea of including a non-refundable deposit clause in the Contract of Sale. More often than not, sellers are under the impression that they will be entitled to all of the non-refundable deposit or monies already paid to the conveyancer on account of the purchase […]