ABSA Bank Limited v L.G.C and Another (4631/2011)
ABSA Bank Limited v L.G.C and Another (4631/2011) [2021] ZAGPPHC 328 (27 May 2021)
The court found that the second respondent's settlement agreement with the first respondent created only a personal right to claim transfer of the property, not a real right of ownership. Ownership of immovable property in South Africa is transferred only by registration in the Deeds Office, as required by section 16 of the Deeds Registries Act. The property remained registered in the name of the first respondent, who was legally competent to mortgage it. The second respondent did not take steps to register the property in her name, nor was the settlement agreement made an order of court. The…
Source excerpt
- Deeds Registries Act
- Mortgage Bond Execution
- Ownership Transfer
- Rule 46a Uniform Rules
- Personal Right Vs Real Right