Exam (elaborations)
LPL4805 ASSIGNMENT 1 SEMESTER 1 YEAR 2024
- Institution
- University Of South Africa (Unisa)
HAS EXACT SOLUTIONS FOR ASSIGNMENT 1 SMESTER 1 YEAR 2024 GUIDE FOR MORE SERVICES APP, CALL AND EMAIL;
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LPL4805 Assignment 1
For Semester 2 (2022)
, QUESTION 1
X is the owner is a residential erf in town which she leases to Z. X is also the
holder of a usufruct over the farm, Moreson, just outside the town where she
farms. X borrows money from a family member ,Y. X instructs you, a notary to
draft and register in the deeds registry, a notarial bond over these three assets in
favour of Y as security for payment of the debt. Fully explain whether you will be
able to execute the instruction.
X, as the owner of the residential erf, may register a notarial bond in favour of Y .
However, X cannot register a notarial mortgage bond in favour of Y over the farm
Môreson because X is not the owner of the farm, but a holder of a limited real right
(usufruct) . X cannot hypothecate her entitlements over the farm Môreson. A personal
servitude, or usufruct, is a restricted real right that belongs to the person who owns it.
The usufruct's entitlements, not the usufruct itself, are being mortgaged. The bond will
automatically expire if the usufruct waives or expires for some other cause, such as the
holder's death. In that case, the mortgagee (Y) would be without a right to the property
or the continuation of the notarial bond.
QUESTION 2
May the registrar of deeds register a notarial bond over a lease or sublease in
respect in respect of both movable and immovable?
Section 82 of the Deeds Act provides for the registration of a notarial bond over a
registered lease and sublease. This indicates a registered short-term lease because
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