People & News

Slowdown relieves

Pogiso Mesefo, the registrar of the office, admitted on Friday that the office would be "in great difficulty" with the recovery if the market was still booming. Officials have been busy at Nedbank and are due to start scanning at ABSA. Standard Bank and First National Bank have already scanned their deeds and will copy them onto disks. Lost deeds have been grouped according to law firms as the index is still intact. The office has estimated that less than five percent of deeds will be a problem because no copies exist either at the Deeds Office or with clients.

The issue of who will have to pay for the costs of recovering the deeds still needs to be settled. The Deeds Office has already spent R100,000 in recovering 8,000 deeds. A new computer back-up system has been implemented to prevent this happening again.

Article on Business Report

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