LPL4804 PORTFOLIO MEMO - OCT./NOV. 2023 - SEMESTER 2 - UNISA - DUE 16 OCTOBER 2023 - DETAILED ANSWERS WITH FOOTNOTES & BIBLIOGRAPHY- DISTINCTION GUARANTEED!

LPL4804 PORTFOLIO MEMO - OCT./NOV. 2023 - SEMESTER 2 - UNISA - DUE 16 OCTOBER 2023 - DETAILED ANSWERS WITH FOOTNOTES & BIBLIOGRAPHY- DISTINCTION GUARANTEED! Question1 1.1. Explain why deeds that are lodged for execution in South Africa's deeds registry are linked? 1.2 What is a conveyancer? 1.3. Who may legally sign the preparation certificate of a certificate of registered title? 1.4. Under what circumstances may the state be held liable for a loss incurred by an innocent third party because of a faulty deeds' registration or record? 1.5. What is the prescribed time limit for processing of a deed by the Deeds Registry office in terms of the Deeds Registries Act 47 of 1937 and/or regulations? 1.6. X and Y, married out of community of property to each other, are the transferees of Erf 202 Soweto Township. Draft the vesting clause. You may use your imagination for any required details. 1.7. Does a transferor, who is married according to the laws of China, require the assistance of his/her spouse when transferring South African land? 1.8. What is acquired state land? (2) 1.9. What consents/assistance will be required where a fifteen-year-old minor alienates land? 1.10. List the requirements for any transfer by endorsement other than in terms of section 45 or 45 bis of the Deeds Registries Act 47 of 1937. [20] Question 2 2.1. Section 14 of the Deeds Registries Act 47 of 1937 prescribes the sequence of registration of transactions. Briefly discuss two reasons for this provision. (6) 2.2 Explain what a certificate of registered title in terms of section 35 is. (4) [10] Question 3 Jack is the registered owner of Erf 111 Alexandra by virtue of Deed of Transfer 9876/2016. Jack sells and intends to transfer portion 1 of Erf 111 Alexandra to Abram against payment of R purchase price. Abram has obtained mortgage finance from A b s to purchase the property. The seller, Jack, has an existing mortgage bond over Erf 111 Alexandra in favour of First National Bank which he cannot afford to completely pay off. 3.1. How will Jack's First National Bank's existing mortgage bond be dealt with on registration of transfer of portion 1of Erf 111 Alexandra to Abram. 3.2. Assuming that Jack is domiciled in Zimbabwe and married his Zimbabwean wife in Harare on 1January 2021. Will Jack be able to sign the transfer documents and in particular the power of attorney to transfer? Explain. 3.3. The transfer deeds and documents for Jack and Abram's transfer and deeds were lodged at the deeds registry in Johannesburg. Prior to registration, the deeds controller noticed that Abram's name was incorrectly spelled as Abraham in the draft deed of transfer only. Explain how this will be corrected, if at all. 3.4. Due to the delay caused by the above-mentioned correction, Abram dies September 2022 before the land is transferred and registered in his name. Analyse the impact of the transferee's death on the sale validity and performance and explain the process to be followed with particular reference to section 14 of the Deeds Registries Act 47 of 1937. 3.5. The late Abram's last will and testament bequeaths his newly acquired immovable property (valued at R 1 400 000) to his sister, Lulu. Calculate the transfer duty payable on this transaction and the original sale to Abram. 3.6. In terms of the Alienation of Land Act 68 of 1981 section 2, in order to be valid an alienation of land must be writing, signed by the parties or their agents acting on their written authority. Identity three exceptions to this requirement. (3) [20] Question4. Differentiate between and explain the purpose of the following types of mortgage bonds: 4.1 A collateral bond 4.2 A substituted bond 4.3 A debenture bond Question5 5.1. What is the purpose of a partition transfer and what circumstances must prevail for such a transfer to take place? (10) 5.2. Discuss the definition of "owner" as set out in section 102 of the Deeds Registries Act 47 of 1937. (10) Question6 6.1. Under what circumstances would a conveyancer effect an estate transfer: (a) in terms of section 18 (3) of the Administration of Estate Act 66 of 1965? (4) (b) in terms of a Section 38 take-over of the Administration of Estate Act 66 of 1965? (4) (c) in terms of a section 34 (2) sale of the Administration of Estate Act 66 of 1964? (4) 6.2. Discuss the circumstances that must prevail before the following registered title can be issued in the event of (a) section 38- lost or destroyed deed. (b) section 39 (1)- to correct an error © section 18 - state land.