Probate closing costs 101 (i.e. Winding up a deceased estate in Zimbabwe):

1) Master's fees?= 4% of estate's solemn or sworn value.

?2) Estate duty?= 5% of estate's solemn or sworn value.

?3) Advertising notices to debtors and creditors flighted in Government Gazette, as well a newspaper circulating in the district where deceased domiciled?= As at July 2024, usually not in excess of US$50, so, perhaps say $100 to be ultra-prudent.

?4) Advertising Estate (i.e. Liquidation and Distribution)Account (similar procedure to advertising notice to debtors and creditors, mutatis mutandis)?= Again, as at July 2024, not in excess of US$50, yet, in the interests of prudence, be prepared to pony up US$100.

?5) Executor/executrix fees (with 15% VAT element baked in)?= 5.2% of the estate's sworn or solemn value. Sans 15% VAT element, it is 4.5%.

6) Conveyancing fees per immovable property (including 15%VAT element)?= 3.5% per immovable property registered in the estate. Sans 15%VAT element, it is 3%.

7) Registration fees per immovable property registered in the estate?= Akin to stamp duty (i.e. sliding scale basis); ergo:

a) Immovable properties worth south of US$5K?= 1% + $70.

b) Immovable properties worth between US$5k and $20k?= $2% + $70.

c) Immovable properties worth between US$20K to $100k?= $3% + $370.

d) Immovable properties worth north of US$100k?= 4% + $2770.

Appendix:

- Institution or department for further assistance and elucidation?= Office of the Master of the High Court, which, in Harare, is situate at:?

Master's House,

Corner, Herbert Chitepo Avenue and Second Street (Sam Nujoma),

Harare.

- Relevant legislation which outlines sanctioned procedure for winding up deceased estates?= Administration of Estates Act (Chapter 6:01)

Conclusion:

Thanks very much for the devotion of precious time and attention; as always, "Your realtor of choice" is at-the-ready to assist.

Good-speed.?

Tatenda Kangwende?is proud and honored to be both, “Your friendly?neighborhood realtor.” As well as, “Your realtor of choice.” For serious business pertaining to real estate in Zimbabwe, please get in touch with him via:

Email: [email protected]??

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