Trust registration process finally clarified

The Department of Justice and Constitutional Development has listened to the fiduciary industry and now done all that is necessary to remove the confusion surrounding the payment for registration of trust deeds at the Master’s Office.

The latest Government Gazette carries the necessary proclamation amending the regulations to the Trust Property Control Act to remove any reference to payment by way of revenue stamps. From Friday 5 November, payment for the registration of trusts or certified copies of documents already lodged with the Master’s Office can be made at a magistrate’s court or by direct bank deposit.

Secretary of the Fiduciary Institute of South Africa, Aaron Roup, says: “We welcome the outcome, but a week of confusion could have been avoided had the authorities addressed the issue months ago.”