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Showing 1 to 3 of 3 (0.038 seconds)Spelling suggestions: "subject:"real security light"" "subject:"real security might""
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A legal comparison of a notarial bond in South African law and selected aspects of a pledge without possession in Belgian lawNtsoane, Lefa Sebolaisi 24 February 2017 (has links)
A real security right improves a creditor’s chances of recovering a debt owed to him by the debtor. In the case of an ordinary pledge, the pledgor delivers physical control of his movable property to his creditor to serve as security for the repayment of the principal debt. The increasing value and use of movable property as an object of security coupled with technological advancement have resulted in many countries calling for legal reform of real security rights over movable property. In South Africa this led to the introduction of the Security by Means of Movable Property Act 57 of 1993 which makes provision for a pledge without possession. The Act regulates only special notarial bonds and does not apply to general notarial bonds. The real security right vests in the bondholder upon registration of the bond, provided that the movable property encumbered is described in a notarial bond in a way that makes it readily recognisable. The Act has substituted delivery with registration in the Deeds Registry. Registration of the notarial bond in the Deeds Registry is questioned as to whether it complies with the publicity principle. This is because movable property can be shifted from one place to another without any knowledge on the part of the creditor due to the inaccessible and costly registration system. The third party then receives the property subject to the real security right of the creditor. The substitution of delivery with registration is the controversial feature in this study. Linked to the legal problems regarding compliance with the publicity principle, is the description and identification requirement as provided for under the Act, the exclusion of general notarial bonds from the application of the Act, and the question of whether it is appropriate to regard special notarial bonds as pledges without possession. This study questions whether the current land registry system should be used for the registration of notarial bonds and suggests that a new system designed specifically for the registration of real security rights over movables be considered. I compare the position in the Belgian legal system as regards developments in real security rights over movables to identify possible solutions and recommendations for the South African approach. / Private Law / LL. M.
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Oproepingsproses van verbande op onroerende sake in die Suid-Afrikaanse reg = Foreclosure of mortgage bonds over immovable property under South African law / Foreclosure of mortgage bonds over immovable property under South African lawFuchs, Maria Magdalena 11 1900 (has links)
Text in Afrikaans / In hierdie verhandeling ontleed ek die oproeping van ʼn verband op ʼn onroerende saak in die Suid-Afrikaanse reg. Indien ʼn verbandskuldenaar wanpresteer, kan die verbandskuldeiser sy beperkte saaklike reg afdwing deur die verband op te roep ten einde die uitstaande skuld te delg. Om dit te bereik, word die sekerheidsobjek op ʼn eksekusieverkoping te gelde gemaak, nadat die regte prosedure gevolg is. Die oproepingsproses is in die laaste dekade ingrypend verander, grotendeels as gevolg van artikel 26 van die Grondwet, 1996, en artikels 129 en 130 van die National Credit Act 34 van 2005. Die volgende stadiums in die oproepingsproses word onderskei: die voorverhoorprosedure; jurisdiksiebepaling; die hofprosedure; beslaglegging en die eksekusieverkoping. Wetgewing en regspraak het onlangs ingrypende veranderings ten aansien van die voorverhoorprosedure en die hofprosedure teweeggebring. Alhoewel die oproepingsproses tans bevredigend deur wetgewing en in die regspraak gereël word, is daar nog verontrustende aspekte van eksekusieverkopings wat die wetgewer se aandag verdien. / In this dissertation I analyse the calling up of a mortgage bond over immovable property under South-African law. If a mortgagor defaults, the mortgagee can enforce his limited real right by calling up the mortgage bond to satisfy the outstanding debt. To accomplish this, the secured property will be sold at an execution sale, after the correct procedure has been followed. Over the past decade, foreclosure proceedings have undergone significant changes, largely owing to section 26 of the Constitution, 1996, and sections 129 and 130 of the National Credit Act 34 of 2005. The following stages in the foreclosure process are identified: pre-trial debt enforcement procedure; determination of jurisdiction; court procedure; attachment and execution sale. Both the pre-trial debt enforcement procedure and the court procedure have recently been substantially amended by legislation and case law. Although legislation and case law currently regulate the foreclosure process satisfactorily, some disturbing aspects of execution sales remain and these deserve the legislator’s attention. / Private Law / LL.M.
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Oproepingsproses van verbande op onroerende sake in die Suid-Afrikaanse reg = Foreclosure of mortgage bonds over immovable property under South African law / Foreclosure of mortgage bonds over immovable property under South African lawFuchs, Maria Magdalena 11 1900 (has links)
Text in Afrikaans, abstract in Afrikaans and English / In hierdie verhandeling ontleed ek die oproeping van ʼn verband op ʼn onroerende saak in die Suid-Afrikaanse reg. Indien ʼn verbandskuldenaar wanpresteer, kan die verbandskuldeiser sy beperkte saaklike reg afdwing deur die verband op te roep ten einde die uitstaande skuld te delg. Om dit te bereik, word die sekerheidsobjek op ʼn eksekusieverkoping te gelde gemaak, nadat die regte prosedure gevolg is. Die oproepingsproses is in die laaste dekade ingrypend verander, grotendeels as gevolg van artikel 26 van die Grondwet, 1996, en artikels 129 en 130 van die National Credit Act 34 van 2005. Die volgende stadiums in die oproepingsproses word onderskei: die voorverhoorprosedure; jurisdiksiebepaling; die hofprosedure; beslaglegging en die eksekusieverkoping. Wetgewing en regspraak het onlangs ingrypende veranderings ten aansien van die voorverhoorprosedure en die hofprosedure teweeggebring. Alhoewel die oproepingsproses tans bevredigend deur wetgewing en in die regspraak gereël word, is daar nog verontrustende aspekte van eksekusieverkopings wat die wetgewer se aandag verdien. / In this dissertation I analyse the calling up of a mortgage bond over immovable property under South-African law. If a mortgagor defaults, the mortgagee can enforce his limited real right by calling up the mortgage bond to satisfy the outstanding debt. To accomplish this, the secured property will be sold at an execution sale, after the correct procedure has been followed. Over the past decade, foreclosure proceedings have undergone significant changes, largely owing to section 26 of the Constitution, 1996, and sections 129 and 130 of the National Credit Act 34 of 2005. The following stages in the foreclosure process are identified: pre-trial debt enforcement procedure; determination of jurisdiction; court procedure; attachment and execution sale. Both the pre-trial debt enforcement procedure and the court procedure have recently been substantially amended by legislation and case law. Although legislation and case law currently regulate the foreclosure process satisfactorily, some disturbing aspects of execution sales remain and these deserve the legislator’s attention. / Private Law / LL. M.
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