Transferring property in South Africa has always been a lengthy and paperwork-intensive process, but we are about to change that forever. SchindlersX, in collaboration with Schindlers Attorneys, presents a groundbreaking solution that allows you to transfer property rights quickly and seamlessly, all from the convenience of your phone.
Imagine being able to transfer property rights with just a touch of your screen, completing the entire process in a matter of minutes. And that’s not all – the best part is that there will be no transfer duty or conveyancing fees on the deal, saving you even more time and money.
Here’s how we’ve achieved this remarkable feat:
Introducing the Leasehold Property Ownership Model: We have adopted the proven and reliable leasehold property ownership model used at Waterfall Estate for many years. Hundreds of successful property transfers have already been accomplished using this model.
The Token-Based System: On transfer, you will be issued a token representing your ownership rights, which incorporates an initial and renewable 99-year lease. This token ensures secure tenure and operates just like a traditional title deed.
Rights and Protections: As a token holder, you enjoy all the same rights and privileges as a property owner, thanks to our collaboration with Schindlers Attorneys. Every right is embedded into the smart contract of the token, ensuring that you have full control and ownership of the property.
Option for Property Transfer: If at any time you wish to convert your token-based ownership to traditional property ownership, you can do so by exercising an option. This will transfer the property into your name, and you will then be liable for transfer duty.
Trust and Transparency: Every token will undergo rigorous audits by token audit experts and receive a token verification stamp, guaranteeing the highest standard of security and authenticity. Additionally, all token holder rights and transactions will be recorded on the blockchain, ensuring enhanced security, transparency, and instant traceability.
Benefits of Blockchain: By leveraging blockchain technology, we offer increased speed, efficiency, and automation, leading to significant cost savings. The Layer 2 Deeds Office will enable property tokens to be traded like commodities on an exchange, providing you with unprecedented flexibility.
No Transfer Duty or Conveyancing Fees: Some of the most significant advantages of using the Layer 2 Deeds Office is the elimination of transfer duty and conveyancing fees, saving you substantial costs in property transactions.
With the Layer 2 Deeds Office, we have revolutionized the property transfer process in South Africa, making it faster, more efficient, and cost-effective. Say goodbye to months of tiresome paperwork and embrace the future of property transfers with SchindlersX and Schindlers Attorneys. Welcome to a new era of property ownership!