The third form of ‘chargeable consideration’ on a transfer on sale is the assumption or release of debt. SA 1891, s. 57 provides that:

Where any property is conveyed to any person in consideration, wholly or in part, of any debt due to him, or subject either certainly or contingently to the payment or transfer of any money or stock, whether being or constituting a charge or incumbrance upon the property or not, the debt, money, or stock is to be deemed the whole or part, as the case may be, of the consideration in respect whereof the conveyance is chargeable with ad valorem duty.

Thus, there will be a charge to duty on any of the following transactions:

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