It is now important for all property owners to confirm the whereabouts of their original title deeds as recent regulations published on behalf of the Minister of Rural Development and Land Reform dealing with lost or destroyed title deeds of fixed property will commence on 25 February 2019.
These regulations bring certain changes to the current procedure involving lost or destroyed title deeds of fixed property which will result in both extra delays and additional cost.
The application and affidavit by the property owner for a copy to replace the lost or destroyed title deed will, in terms of these changes, have to be signed in the presence of a notary public. Not all conveyancers are notaries and not all law firms have notaries. Special arrangements would therefore in most cases have to be made for the signing of the required documentation.
An advertisement regarding the intention of the property owner to apply for a copy to replace the lost or destroyed title deed will also, in terms of these changes, have to be placed in the Government Gazette affording affected parties two weeks to object. This will certainly cause a delay in any property transaction and there will also be additional cost for the property owner.
We therefore urge all property owners to ensure that they know the whereabouts of their title deeds. If your property is mortgaged to a bank under a mortgage bond then the bank would usually hold the title deed. If your property is un-bonded and you cannot locate your title deed we urge you to contact us immediately to assist with the replacement thereof before the implementation of the new regulations.
If you would like a more in-depth analysis or legal advice regarding the new regulations please do not hesitate to contact us.
For more information contact us.
Robert Ferrandi | Conveyancer / Notary
Areas of Expertise: Property Law & Conveyancing
This article is a general information sheet and should not be used or relied on as legal or other professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your legal adviser for specific and detailed advice. Errors and omissions excepted (E&OE)