Sequestration With Property

What you need to know regarding a voluntary surrender with a property (bond)

"Do something today that your future self will thank you for."

The surrendering of your estate is a process instituted by the Courts to help persons that are no longer in a position to honour their debts due to unforeseen circumstances and legally puts you in a position to keep assets.

Voluntary surrender enables you to regain normality in your financial affairs – so that you can adjust your lifestyle according to your income. You will be able to live normally because your affairs have been sorted out legally by the High Court. You have an answer for those creditors that phone you day and night from “private numbers”.  You will no longer fear that the Sheriff may make an unwanted house call and try to attach your possessions.

A short summary of the procedure:

Important Points:

The Court Rules determine that you pay an agreed percentage of the debt to your creditors. This percentage varies from province to province. For example if your total debt is R200 000.00 you may pay R80, 00.00.  A fixed fee is already included in the amount payable so that you will not be caught off-guard with unexpected attorney or curator costs.  The benefit of this formal legal process is that the repayment amount does not accrue interest.   Arrangements may be made with the curator to settle the amount in instalments over 18 to 24 months.  Written permission is needed from the curator when the instalment agreement is accepted.    Therefore, if you owe R500 000.00 you may repay the R160 000.00 in instalments of R6666.66 per month for 24 months – with no further interest or costs thereon.

To generate the money in terms of the Rules of Court the following is done:

  • We will forward you a document, listing general household items where you must identify your assets and describe each item in detail e.g. TV – Sansui 54cm etc.


  • This document will be forwarded to the valuator, who will contact you and arrange for a visit to establish the value of the items. This is to verify the value of the movable assets according to the Rules of the High Court.


  • A purchase agreement, prepared by the curator, will be presented to you in order to assist you in buying your assets back. *No furniture will be removed.


  • As soon as the application has been approved and granted, the curator will contact you to confirm the details in respect of your assets.


* Failure to comply with the arrangements made with the curator will result in removal of the furniture.

  • We will communicate with you on a regular basis to keep you updated with the progress of your application.


  1. If your property has already been scheduled for auction, it is of utmost urgency to proceed with the application for sequestration. All legal action will cease as soon as the notice is published in the Government Gazette.
  2. A valuator will contact you to make an appointment to evaluate your property.
  3. The Master of the High Court appoints a Curator after your sequestration was granted. The Curator normally attempts to sell the property to ensure a better selling price and will appoint an agent to market your property. The appointed agent is very professional and will take your needs into consideration.
  4. You may occupy the property until the Curator is appointed. You have to pay municipality bills to avoid a “blackout”.  We will need a copy of the last municipal account to lodge your application for sequestration. 
  5. The curator will give you 30 days to vacate the property after the selling date. It will not be advisable to vacate the property before then as a property sells easier while occupied.  This will also minimize vandalism and unnecessary costs to the insolvent estate.
  6. If the property is sold for less than the bond amount, you will not be held responsible for the short fall. That means if the bond is R1million and the property is sold for R800 000.00 the difference will be written off.  Remember you are declared insolvent and will not be liable for the losses.



There are false advertisements in the newspapers informing people that they will be able to keep their immovable property, but after three months they have a rude awakening and are notified to vacate the property.

  • Hire Purchase agreements are part of your application for sequestration. Arrangements to keep your vehicle need to be made with the financial institution prior to a sequestration application. If your vehicle is under hire purchase, the Rules of Court stipulate that any bank may repossess the vehicle.


  • Should the instalments on the vehicle be up to date, financial institutions are willing to consider your request to keep the vehicle more favourably. This is often accepted but there is no guarantee that you will be able to keep the vehicle, even if the instalments are up to date.


  • Lease agreements where a residual payment is required, do not form part of your sequestration application.


Vehicles paid by you but registered in another person’s name will not form part of the estate.



Debt Counselling




Most important: FINANCIAL FREEDOM – NO MORE SLEEPLESS NIGHTS – you and your family can start afresh, a new beginning. You do not have to be afraid of unknown numbers on your mobile.  It is better to face a problem and sort it out rather than run away from it.  It will not disappear.

Insolvensies Boedeloorgawe sonder eiendom
Insolvensies Boedeloorgawe sonder eiendom


  • The initial cost of the application amounts to R8,900.00. This includes the fee for the Advocate who attends Court on your behalf.  The advertisement in the Government Gazette amounts to R73.00 and the local newspaper costs R990.00.  We pay the valuator an amount of R3,500.00.   Registered mail that is sent to your creditors – amounts to R32.00 per letter. This also includes necessary telephone calls, e-mails and faxes which we send on your behalf.  Banking details will be furnished to you.


  • Payment in the amount of R8,900.00 is required before we commence with the application for the surrendering of your estate. This is to pay the initial costs for the Advocate, Valuator, Government Gazette and newspaper advertisements etc. We will furnish you with a letter that will indemnify you from paying your creditors to enable you to pay the R8,900.00 with ease. (You are welcome to test the market to see what other attorneys charge before any application or even a consultation is scheduled, usually it equates to around R30,000.00, and attorneys in Johannesburg/Midrand and Cape Town ask R40,000.00 to bring an application).


  • The initial fee may be paid over two months although we can only start the process after we have received the full amount of R8,900.00. It is company policy and no exceptions will be made – thank you for understanding. 


  • We are always sincerely committed to give you the best advice . With more than 27 years experience in this field we can assure you of a proven track record and many satisfied clients.  Your application will always be handled with discretion.
  • Client references available upon request.

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