Lake Properties Lake Properties
Lake Properties Lake Properties
After selling your house in South Africa, it's important to keep the following documents for legal, tax, and personal reference purposes:
1. Sale and Transfer Documents
- Deed of Sale (Offer to Purchase Agreement) – A signed copy of the agreement between you and the buyer.
- Transfer Duty Receipt – Proof that the necessary tax was paid (if applicable).
- Rates Clearance Certificate – Issued by the municipality to confirm all rates and taxes are paid.
- Electrical, Gas, and Compliance Certificates – Proof of compliance with safety regulations.
- Municipal Account and Final Bill – Confirmation that all outstanding amounts were settled.
2. Financial and Tax Documents
- Bond Cancellation Documents – If you had a home loan, proof that the bond was cancelled.
- Proof of Payment – Any payments received from the buyer, agent commissions, or legal fees.
- Capital Gains Tax Records – Keep records of the selling price and related expenses for SARS tax filing.
- Estate Agent Invoice and Commission Agreement – If you used an agent, keep their invoice for tax purposes.
3. Legal and Personal Records
- Title Deed (if applicable) – If you had the original, keep a copy after the transfer.
- ID Copies and FICA Documents – Any documents used during the sale process for verification.
- Correspondence with Attorneys and Buyers – Emails, letters, or agreements related to the sale.
How Long Should You Keep These Documents?
- Tax-related documents – At least 5 years (for SARS audits).
- Legal and compliance certificates – At least 2 years in case of future disputes.
- General sale records – Indefinitely, especially if the sale involved significant legal or financial transactions.
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