Sequestration With Property

Download Application form: Click Here

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 are able to 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

1. We publish an advert in the Government Gazette and the local newspapers to prevent any further legal procedures against you, which includes execution notices and seizure of your movable and immovable assets (property registered in your name).

2. A statement of debtor’s affairs, listing all your debts, is drafted that you have to sign before a Commissioner of Oaths. This document is submitted for inspection to the Master of the High Court for 14 days and/or lodged with the local Magistrate. It is of utmost importance to provide a 100% accurate list of all your creditors, to prevent unwanted embarrassment and difficult situations after sequestration.

3. A registered letter is sent to all your creditors notifying them of the surrendering of your estate. Your creditors are free to contact our company for additional information. You
will also be provided with the same letter to deal with your nagging creditors.

4. The South African Revenue Service is also notified, even if you are not registered with SARS.

5. A founding affidavit is prepared giving full details of your personal circumstances as well as the reasons for your financial predicament. This will include recent statements of all outstanding accounts.

6. On the court date an Advocate will present the application on your behalf.There is no need for you to attend the court hearing in person. We will notify you of the outcome.

7. After the application has been approved and granted by the High Court, a curator is appointed by the Master of the High Court to handle all financial matters on your behalf. The curator will contact you to arrange a consultation to explain the details to you. If you live outside of Cape Town or in Gauteng, Mpumalanga, North West or Limpopo a telephonic consultation will suffice.


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 valuate 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.

7. Another positive aspect is that you will not have to deal with the approval of the bond, credit worthiness of the buyer, etc. The appointed Curator will have to deal with it.

IT IS IMPORTANT TO NOTE THAT ANY PROPERTY, MOVABLE OR IMMOVABLE, REGISTERED IN YOUR NAME HAVE TO BE DEALT WITH IN THE SEQUESTRATION. ANY MOVABLE OR IMMOVABLE PROPERTY IS AN ASSET AND SHOULD BE DEALT WITH ACCORDINGLY. 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.


1. 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.

2. 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 or legal entity’s name will not form part of the estate.



1. You will be insolvent for at least the next four years. During this period you will not be credit worthy. You may receive permission from you curator when you need to purchase a vehicle after a period of twelve months. This permission will depend on a record of regular monthly payments to the curator. Please note that the financial institution may require someone to sign surety and have the final say on your loan application. This is a maybe and not a definite.

2. Your bank accounts will be limited to a savings account. You may not have a cheque account or a credit card facility. You may under no circumstances engage in any debt arrangements.

3. Only a successful Application for Rehabilitation will ensure that your name is cleared. This application is normally lodged four years after the court date of your Sequestration. There are circumstances where you can apply for rehabilitation after 24 months but this is an exception rather than the rule.


1. Your salary and other income are your own and you will not have to pay your creditors. All your old debts that formed part of your sequestration are written off.

2. Only your creditors are notified of the process and not your employer or any other person. You will not be dismissed from your employment as a result of it.

3. You will not have to attend Court.

4. The curator may arrange with your financial institution (the bank) to keep your vehicle and if your instalments are up to date, to enter into a lease agreement. (Final decision remains with the financial institution)

5. You and your family will get used to live without debt. You will know the difference between “needs” and “wants”. We have many satisfied clients who do not even want to apply for Rehabilitation. They enjoy a life without debt.

Very 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.


Please note that our offices are situated in Melkbosstrand, Brackenfell (Western Cape) and Pretoria with jurisdiction in Gauteng, Mpumalanga, North West, Limpopo and the Western Cape.


1. The initial cost of the application amounts to R 7 800.00.  This includes the fee for the Advocate who attends Court on your behalf.  The advertisement in the Government Gazette amounts to R 81.20 and the local newspaper costs R 800.00.  We pay the valuator an amount of R 2 500.00.   Registered mail that is sent to your creditors – amounts to R 23.70 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.

2. Payment in the amount of R 7 800.00 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 R 7 800.00 with ease.  Should you have more than one property registered in your name, an additional R 800.00 will be charged for each additional property. It will be added to the initial costs to lodge the application. (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 R 18 000.00, and attorneys in Johannesburg/Midrand and Cape Town ask R 30 000.00 to bring an application).

3. The initial fee may be paid over two months although we can only start the process after we have received the full amount of R 7 800.00.  It is company policy and no exceptions will be made – thank you for understanding.

We are sincerely committed to give you the best advice at all times. With 20 years experience in this field we can assure you of a proven track record and many satisfied clients. Your application will be handled with discretion at all times.

Client references available upon request.

Download Application form: Click Here

Western Cape
National Number
27 21 553 3653
Follow Us