Conveyancing Tables - May 2021
The Conveyancing Tables of Costs Ready Reckoner has been updated to reflect the changes made to the Conveyancing Fees Guidelines for the transfer of immovable property, applicable from 1st May 2021.
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Prohibition against transfer
Allen West discusses the implication of title deed conditions in respect of agricultural holdings which contain a provision that the land may not be further subdivided, or any portion thereof sold, leased or disposed of, or transferred to two or more persons, without the consent of the Board.
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Property 24/10 - 550
This week on Property24.com: No deposit? You're more likely to qualify for a 100% bond than ever before; 4 simple rules for a good credit score; and 3 free services to help you get your finances in order.
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Reader Comments:
1. A mortgage is a charge on property as security for debt. The causa in respect of such debt is irrelevant. 2. I am not quite sure I understand the question correctly. The capital amount of the debt is not important but what is very important is the amount of the security for a number of reasons including preference on insolvency and more importantly to enable the deeds office (and the conveyancer) to work out their fees.
Please be informed that both these questions have been answered during the 2009 Conference of Registrars. A bond can be registered for a foreign debt reflected in a foreign currency . However a bond cannot be registered without an amount being referred to (see RCR 20 and 22 of 2009).
Two scenarios:
1. A mortgagor has a paid up mortgage bond on a property. He takes out 2 CCMBs on the property. He wants to cancel the CCMBs but retain the original bond. Does conveyancer draft Consent to Cancel CCMBs but not original bond? If Conveyancer has to draft Consent to release CCMBs from operation of bond, will it be release of person AND property or release of PROPERTY only?
2. If mortgagor has a 2nd property where the original mortgage bond has been cancelled and he has taken a CCMB on the same property, he owes R200k on the CCMB. Can a conveyancer lodge a consent to release (of either person and property/property)?
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