Deeds Registry Act
Conveyancing Quote
Property Trusts
Who's Online
We have 4 guests onlineLegal Links
Register Antenuptial
Louwrens Koen Attorneys and Conveyancers
 |
Today | 119 |
 |
Yesterday | 1065 |
 |
This week | 2303 |
 |
Last week | 4599 |
 |
This month | 10734 |
 |
Last month | 20710 |
 |
All days | 164648 |
We have: 4 guests online
Your IP: 207.241.228.163
Mozilla 5.0,
Today: Dec 15, 2010
Your IP: 207.241.228.163
Mozilla 5.0,
Today: Dec 15, 2010
| 45 Transfer or cession by means of endorsement |
|
45 Transfer or cession by means of endorsement (1) If immovable property, a lease under any law relating to land settlement or a bond, which forms an asset in a joint estate is registered in a deeds registry and the surviving spouse has lawfully acquired the share of the deceased spouse in the property, lease or bond, the registrar shall on written application by the executor in the estate of the deceased spouse and by the surviving spouse save where the surviving spouse has signed as executor, accompanied by such other documents as may be prescribed, endorse on the title deeds of the property or on the deed of lease or on the bond that the surviving spouse is entitled to deal with such property, lease or bond, and thereupon such spouse shall be entitled to deal therewith as if he or she had taken formal transfer or cession into his or her own name of the share of the deceased spouse in the property, lease or bond [Sub-s. (1) amended by s. 20 (a) of Act 43 of 1957 and by s. 19 (a) of Act 43 of 1962 and substituted by s. 31 of Act 88 of 1984 and by s. 5 (a) of Act 11 of 1996.] (2) If the immovable property mentioned in sub-section (1) is hypothecated under a registered mortgage bond the endorsement provided for in the said sub-section shall not be made unless- (a) such bond is cancelled; or- (a)bis the said property or the share of the deceased spouse therein is released from the bond; or [Para. (a)bis inserted by s. 19 (b) of Act 43 of 1962.] (b) ...... [Para. (b) substituted by s. 20 (b) of Act 43 of 1957, amended by s. 19 (c) of Act 43 of 1962 and deleted by s. 5 (c) of Act 11 of 1996.] (c) a written consent (which shall be in duplicate, in the prescribed form and signed by the survivor and the legal holder of the bond) to the release of the estate of the deceased spouse from liability under the bond and to the substitution of the survivor as sole debtor in respect thereof, is produced to the registrar together with the bond. [Para. (c) substituted by s. 14 of Act 14 of 1993 and by s. 5 (d) of Act 11 of 1996.] (3) The registrar shall, in any case of release and substitution in terms of paragraph (c) of subsection (2), when he or she endorses on the title deeds of the property that the survivor is entitled to deal therewith- (a) make in the appropriate register an entry setting forth that the estate of the deceased spouse is released from liability in respect of the obligation secured by the bond and that the survivor has become sole debtor in respect of the bond; and (b) endorse on the bond that the estate of the deceased spouse is released from liability in respect of the obligation secured thereby and that the survivor has become sole debtor in respect of the bond. [Sub-s. (3) substituted by s. 5 (e) of Act 11 of 1996.] (4) As from the date of the endorsement on the title deeds of the property in terms of sub-section (1), the estate of the deceased spouse shall be absolved from any obligation secured by the bond and the survivor shall become sole debtor in respect thereof in the same manner as if he had passed the bond at that date and, if the bond is a bond to secure future debts, the immovable property thereby mortgaged will secure any further or future advances which are made by the mortgagee of the bond to the survivor. [Sub-s. (4) substituted by s. 2 of Act 24 of 1989.] (5) Any reference in this section to a bond shall include a charge in favour of the Land and Agricultural Bank of South Africa or any Department of State. [Sub-s. (5) added by s. 19 (d) of Act 43 of 1962.] |
Louwrens Koen Services
