NOTARY LAWYERS IN JOHANNESBURG AND CAPE TOWN
– Registration of servitudes, notarial deeds and more –
NOTARIAL BONDS
Notarial Bonds are attested by the notary and registered over movable property in order to secure the obligation of a debtor (the mortgagor) towards a creditor (the mortgagee), for example, the repayment of money lent. It is accessory to an obligation, and unless there is an original or principal obligation (debt) there can be no mortgage or hypothecation. The bond enables the mortgagee, to sell the mortgaged property and to use the proceeds thereof, should the mortgagor fails to repay the money lent.
Various notarial bonds can be registered, and this includes:
- Ordinary notarial bond
- Notarial covering bond
- Collateral notarial bond
- Notarial surety bond
- Notarial indemnity bond
- Notarial debenture bond
- Notarial proof of an inheritance due to a child
SERVITUDES
Notaries can register personal servitudes in favour of a person. A notary can also register praedial servitudes in favour of land or burdening land.
A personal servitude is a real right granting the holder thereof, the right to do something on someone else’s property, or to prevent a landowner from exercising some or other ordinary power as the owner thereon.
Common personal servitudes are:
- use (usus)
- usufruct
- occupancy (habitatio)
- a right of way
- the right to trade
- lease agreements
- bonds in favour of a specific person(s)
- notarial tie agreements.
A praedial servitude, on the other hand, is a servitude held by one property over another property. At least two properties are concerned if you work with praedial servitudes namely a dominant and a servient property.
There are various types of praedial servitudes, and it includes:
- a right of way
- a right of encroachment
- a parking servitude
- a right of aqueduct
- a right of conduction of electricity
- a right to lead away refuse, sewerage and rain water
- servitudes of restrictions on the type, height and format of buildings to be erected on servient properties.
NOTARIAL DEEDS FOR SECTIONAL TITLES PROPERTIES
The notary is involved in sectional titles matters, as it might be required that certain servitudes should be registered before or simultaneously with the opening of the sectional titles building (for example an apartment building).
Once a sectional titles building has been opened, then various other real rights or transactions may be registered over the sections, the exclusive use areas and the common property, such as:
NEED A NOTARIAL DEED?
CONTACT JULIES ATTORNEYS INC. FOR ADVICE ON NOTARIAL DEEDS.
Contact Julies Attorneys to register your notarial deed.