Nedbank Group Legal recently released a "Legal Alert" that should be of use to attorney liaison officers, panel attorneys and Third Party Conveyancing Software vendors. The circular is intended to update and supplement communications and to address various queries that have been raised since 1 February with regard to:
- the acquisition by Nedbank Limited of part of the business of Peoples Bank Limited; and
- the change of name of Peoples Bank Limited to Peoples Mortgage Limited.
Issues covered by the Legal Alert include:
2005 Nedbank Legal Alert
- The effective date and its consequences;
- Deeds registries issues;
- The registration of mortgage bonds to secure homeloans approved by Peoples Bank Limited prior to 1 February 2005 in which the procedure to be followed is explained, as are the handling of amendments to documentation signed by the borrower prior to 1 February 2005, and the panel attorney's responsibility;
- Signatures on consents, applications and other deeds office documents;
- Use of the Peoples Bank brand by Nedbank Limited;
- Foreclosure and legal proceedings; and
- The solving of practical difficulties and contact information.