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title deeds 
Post: #1   PostPosted: Sun Oct 28, 2012 7:36 am Reply with quote
jessgrove
Joined: 19 Jan 2010
Posts: 46
Pictures: 0

 
Hi
We have just been informed our title deeds are ready and given a figure that is payable (the transfer tax) the developer has also advised us of a smaller seperate amount which he is calling immovable property tax which is due, Is this ours to pay I was informed when we initially purchased that any taxes were his to pay until we had our title deeds in our name and then any taxes became ours to pay thereafter. Can anyone help with this please???
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Re: title deeds 
Post: #2   PostPosted: Sun Oct 28, 2012 12:29 pm Reply with quote
Steve - SJD
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Joined: 16 Jul 2005
Posts: 20159
Pictures: 55

 
jessgrove wrote:
Hi
We have just been informed our title deeds are ready and given a figure that is payable (the transfer tax) the developer has also advised us of a smaller seperate amount which he is calling immovable property tax which is due, Is this ours to pay I was informed when we initially purchased that any taxes were his to pay until we had our title deeds in our name and then any taxes became ours to pay thereafter. Can anyone help with this please???


Jess - It would very much depend on what it states in your contract.

However it is normal that the buyer clears all taxes and fees before the
Title Deeds are issued. As the TD's are currently undivided and in the
developers name then they usually pay the IPT until such time as your
TD's are ready to be issued.

The charging of IPT is also normal but you must ensure that if you do pay
it you receive a proper receipt on headed paper. On the receipt it should
show exactly what the payment is for i.e. IPT.

Once the Title Deeds are issued you can claim any payment back that is
over the amount you should have paid. However to claim this back you
do need to have proper receipts from your developer showing the
amount you have paid.

HTH

Cheers

Steve
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Post: #3   PostPosted: Sun Oct 28, 2012 1:16 pm Reply with quote
Campbell Findlay
Joined: 24 Jan 2007
Posts: 3622
Pictures: 0
Location: Kapparis January 2007

 
Our developer has started doing this - last year we got the opportunity to pay IPT and Sewage from date of delivery to 31/12/2010.This year I have just received a bill for/ and paid the IPT and Sewage for 2011.It saves getting hit with a lump when we eventually get the deeds.
The explanation given by Steve is exactly right.

Cheers,
Campbell.

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