Real Estate Investor Magazine South Africa March 2015 | Page 36

LEGAL

Conveyancer Theft
The consequences of stolen deposits
by conveyancers are dire
BY LEZA KOTZÉ

B

uyers must be confident that a seller’s choice of
conveyancer is sound, as the consequences can
be dire if the initial deposit paid by the buyer
is stolen.
During the course of the sale of immovable property,
it is an all-too-common scenario for the contract of
sale to require the buyer to pay a deposit to the seller’s’s
appointed conveyancer, to be held in a trust until
transfe