Land registration is the official recording of legally recognised interest in land as well as supporting conveyancing and property taxation registration system which are often a source of government revenue through the collection of fees and transfer taxes. The land registration process in Zimbabwe began with the conveyancer who prepares the draft deed power of the attorney to pass transfer as well as declarations for signing of the buyer and seller. During the transfer fees process he signed an agreement of sale. Upon drafting of transfer deed the conveyancer will always refer to the deed from the seller and the information from the deed office . The document include stamp , sales agreement and power of attorney to make the transfer.
Upon payment of transfer fees to the conveyance, he will draft a proposal deed of transfer (in duplicate) deriving the powers to do so from the signed and witnessed agreement of sale. In drafting the proposal transfer deed the conveyancer will always refer to the deed from the seller and other information from the Deeds Office. The proposal must also refer to the diagram deed which will be annexed to the first transfer deed.
The documentation shall include: Declaration by seller and by purchaser (for stamp duty purposes),Sale agreement and Power of Attorney to make the transfer
A search of the property title is conducted by the Lawyer at the Land Registry. However, the seller applies for the rates clearance certificate to the local authority under his jurisdictions the property falls. The local authority will bring an assessment of how it is payable of advance rates and outstanding rates and all this paid to the local authority will provide an assessment of how is payable by way of advance rates and outstanding rate and all this are paid to the local authority properties subject to these rate paid by the property owner to the municipality or other land authority for the services they get . For example sewage, refuse collection and water.
In addition the seller applies for a capital gains tax clearance certificate. The capital gains tax [CGT] is assessed by the Zimbabwe revenue authority [ZIMRA] which determines how much is payable by way of capital gains tax .the rate is 20 percent on the gains and is paid by the seller . The conveyancer will deliver the title in person to ZIMRA where ZIMRA customer service helps with the computation the document requires: form rev 1, capital gains tax clearance application, original and copy of title deeds, original and copy of seller and buyer, company’s address, agreement of sale signed by both buyer and seller, original and copy of certificate of incorporation for both companies, proof of payments, directions resolution to buy \sell this warehouse by born the seller and buyer, original and copies of the id’s of the people mentioned in the resolution, contact details of the representatives for both companies and copy of deeds of transfer.
ZIMRA will conduct physical interviews on two directions from both the buyer and the seller those who are interviewed by ZIMRA are those who sign the resolution of the company and are the direction. ZIMRA will tabulate after verification and the actual cost of the CGT and will inform the conveyancer of the amount paid . Moreover payments of capital gains tax and obtain CGT certificate with ZIMRA again when the verification are issued the seller is given a business partner number which enable to pay capital gains tax .the conveyancer pay the amount on behalf of CGT at the bank .when the payments is made one has to wait until the payments is reflected in the ZIMRA official who did the interview from his/her receipt is issued
Finally transfer documents lodged for registration of title with the register of the deeds office .the stamp duty is paid upon lodging at the deeds office the deeds is signed by the register of deeds or his\her designate one copy of the deeds is title in the office of register of deeds and the second one sent back to the conveyancer for onward transmission to his\her client this the new property owner.
The documents shall include the following: rates clearance certificate, capital gains clearance, two copies of the draft deeds, power of attorney to pas transfer, declaration by seller and buyer and original holding deeds
The deeds office no longer has the capacity of sending the properties for valuation . Unless ZIMRA calls for a valuation of the property sold ,once CGT clearance is obtain the Deeds office does not have a basic for sending properties for valuations. Prior to ZIMRA taking over the responsibility .The Deed office could and did not send properties for valuation in case of errors or disagreements regarding the value of the property.
ARTICLE WRITTEN BY
PRISCILLAH MUNANGATIRE
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