South African Deeds Journal

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the professionalism of deeds examiners employed by the State to ensure the integrity of the registers. Of course our land registration system and all that it is built upon only forms part of the total judicial infrastructure on which our economy is based. If anarchy in a given area escalates to such an extent that a bank can no longer retrieve its outstanding debt on a property by way of public auction, then the best land registration system becomes meaningless. However, one must not underestimate the value to the economy of a reliable land register. The above article originally appeared in the SAKE24 supplement of DIE BURGER and is reproduced here with kind permission from Media24, and the author. See also the monetary value of bond and bond registrations published in the October 2007-issue of the SADJ on pages 15 to 20 which is ancillary to the essence of this article. It was translated from the original Afrikaans by L J Vosloo. - Editor Couching of Waiver waiver of preference Preference in a Sectional sectional bond Bond By: Marie Grové <strong>Deeds</strong> Training, PRETORIA The Sectional Titles Act, 95 of 1986 does not provide for the waiver of a personal servitude in a sectional bond. The matter was recently discussed at the Registrars' Conference, and the Registrars resolved that the bond must be made subject to the usufruct and the waiver must be contained in the bond, and not the annexure: “52/2007 Couching of waiver of preference of usufruct Uncertainty at present prevails as to how the waiver or preference of a real right, such as a usufruct, must be couched in a sectional bond. Resolution: The usufructuary must either personally or in terms of an agent appear before the conveyancer. The bond must be made subject to the usufruct and the waiver must be contained in the bond and not the annexure.” Unfortunately the conference did not state whether the Power of Attorney (PA) must be lodged when the usufructuary (or holder of the personal servitude) appoints an agent by means of a PA. It can be reasoned both ways whether the PAmust be lodged or not. In the first instance, the PA falls within the ambit of the documents described in Annexure 6B, as referred to in regulation 40 of the Sectional Title regulations, in which case the PAshould not be lodged. It can also be reasoned that the personal right is waived in terms of the <strong>Deeds</strong> Registries Act, 47 of 1937, and not in terms of the Sectional TitlesAct, 95 of 1986. Therefore the PAmust be lodged. It is suggested that the waiver of preference in the bond, as directed by the Conference should be set in the example below, namely: “ Mortgagor hereby binds as a FIRST MORTGAGE, subject to the conditions set out in the annexure to this bond: A unit consisting of: (a) Section No 2 as shown and more fully described on Sectional Plan No SS 91/1996 in the scheme known as BATCAVES in respect of the land and building or buildings situated at ERF 957 ELDORAIGNE TOWNSHIP, in the local authority of City of Tshwane Metropolitan Municipality of which section the floor area, according to the said sectional plan is 90 (NINETY) square metres in extent; and (b) an undivided share in the common property in the scheme apportioned to the said section in accordance with the participation quota as endorsed on the said sectional plan. Held by virtue of Deed of Transfer ST SUBJECT TO ALL THE TERMS AND CONDITIONS CONTAINED THEREIN AND A LIFELONG USUFRUCT IN FAVOUR OF 23
EMMA GEEL, IDENTITY NUMBER 520101 0032 00 2, UNMARRIED, WHICH RIGHT IS BEING WAIVED IN FAVOUR OF THIS BOND, AS WILLAPPEAR LATER ON IN THE BOND *I, the undersigned, ALEXANDER HONEY, duly authorized by virtue of a power of attorney, signed at Pretoria on 7 January 2004, by EMMA GEEL, IDENTITY NUMBER 520101 0032 002, UNMARRIED, the holder of the usufruct over the within mentioned property, do hereby waive the usufruct on behalf of the usufructuary, in favour of the mortgagee. Signed at Pretoria on 20 July 2004 ____________________________________ Alexander Honey Duly authorized by Usufructuary SIGNED at PRETORIA on 26 July 2004 ____________________________________ Mortgagor / Duly authorized agent of Mortgagor Before me Elaine Buckeroo Suite 16, Wildberry Park 777 Wildberry Avenue MUCKLENEUK __________________________ CONVEYANCER Registered at PRETORIA on __________________________ REGISTRAR OF DEEDS *The exact wording of the waiver is the prerogative of the preparer. See page 5 for other resolutions taken by Conference. - Editor 4
Page 1 and 2: South African Deeds Journal March 2
Page 3 and 4: land affairs Department: Land Affai
Page 5: The Deeds Registry as a Necessary E
Page 9 and 10: RCR 7/2007 - Regulation 68(11) An a
Page 11 and 12: CONFERENCE OF REGISTRARS 2007 Back
Page 13 and 14: of 1961, if neither of them is a sp
Page 15 and 16: THE RELATIONSHIP BETWEEN CIVIL AND
Page 17 and 18: Reflecting the Past 40 Years DEEDS
Page 19 and 20: Deeds Training Spreads its Wings By
Page 21 and 22: The Trust Property Control Act also
Page 23 and 24: Chief Masters Directive 3 of 2006:
Page 25 and 26: a declaration must be provided by t
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Page 29 and 30: • If the estate agent and/or conv
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Page 35 and 36: knows relate to the debtor [section
Page 37 and 38: Articles Published in Legal Journal
Page 39: The article also correctly points o

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