Sectional Titles Act, 1986 (Act No. 95 of 1986)RegulationsSectional Titles Amendment Regulations, 202134. Sectional mortgage bonds |
| (1) | A sectional mortgage bond hypothecating a unit held under a sectional title deed or an exclusive use area or the right to extend a scheme held under a certificate of real right, shall be substantially in the form of Form Z in Annexure 1, and shall be prepared by a conveyancer and be signed by the mortgagor, or his or her duly authorised agent, in the presence of a conveyancer, and the said form shall be suitably adapted when hypothecating land held under a sectional title deed or a registered notarial lease or sublease or other registered real right. |
| (2) | A collateral sectional title mortgage bond must be substantially in the form of Form AJ in Annexure 1. |
| (3) | A surety bond must be substantially in the form of Form AK in Annexure 1. |
[Regulation 34 substituted by regulation 12 of Notice No. R. 820 dated 28 September 2011]