Financial Management of Parliament Act, 2009
R 385
Deeds Registries Act, 1937 (Act No. 47 of 1937)Chapter III : Registration of LandTransfer of Land27. Requisites where share in land partitioned is mortgaged |
| (1) | If the share or shares owned by any of the parties to a partition is mortgaged, the partition transfers shall not be attested unless the bond is produced to the registrar together with the written consent of the legal holder of the bond, to the partition and to the substitution of the land awarded on partition to the mortgagor for the share or shares mortgaged. |
| (2) | In registering the transfer the registrar shall— |
| (a) | endorse on the bond that the land awarded to the mortgagor has been substituted for the share or shares mortgaged; |
| (b) | make an entry of the substitution in the registers; and |
| (c) | endorse on the transfer that the land described therein is, in accordance with this section, mortgaged by the bond. |
| (3) | If only a fraction of the share or shares owned by any of the parties to a partition is mortgaged, the substitution referred to in this section shall only take place in respect of the fraction so mortgaged, if from the agreement of partition or from other evidence it appears that a defined portion or share therein has been separately awarded in respect of such mortgaged fraction. |
| (4) | Where more than one property is partitioned by the same partition and the whole of any one or more of the properties affected is awarded to an owner, such property or properties may be substituted under that owner's bond, if the bond is over his share in all the properties partitioned. |
[Section 27(4) inserted by section 12 of Act No. 43 of 1957]
