Sectional Titles Act, 1986 (Act No. 95 of 1986)RegulationsSectional Titles Amendment Regulations, 2021AnnexuresAnnexure 1 : FormsForm Z |
FORM Z
Prepared by me
...........................................................
CONVEYANCER
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(State full name and surname in block letters)
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(Disclose Legal Practice Council Membership Number)
SECTIONAL MORTGAGE BOND HYPOTHECATING *A UNIT/AN EXCLUSIVE USE AREA/THE RIGHT TO EXTEND A SCHEME/
OTHER REGISTERED REAL RIGHTS
I, the undersigned, ............................................................ (hereinafter referred to as the mortgagor), do hereby acknowledge myself to be lawfully indebted and bound to ............................................................. (hereinafter referred to as the mortgagee) in the amount of (in words and figures) .............................................. and (in words and figures) ..................................................being the additional amount referred to in the conditions annexed, arising from and being ............................................... and as security for the above,
I hereby bind as a † ....................................... mortgage, subject to the conditions set out in the annexure to this bond*:
| (1) | *A unit consisting of— |
| (a) | Section No. .............................. as shown and more fully described on Sectional Plan No. SS .............................. in the scheme known as .............................. in respect of the land and building or buildings situate at ‡ .............................. of which the floor area, according to the said sectional plan, is .............................. square metres in extent; and |
| (b) | an undivided share in the common property in the scheme apportioned to the said section in accordance with the participation quota as endorsed on the said sectional plan. |
Held under **...................................... and subject to such conditions as set out in the aforesaid **………………………………................
| (2) | *An exclusive use area described as .............................. No. ..............................measuring .............................. being as such part of the common property, comprising the land and the scheme known as .............................. in respect of the land and building or buildings situate at ‡ ......................................... as shown and more fully described on Sectional Plan No. SS ..............................held under ** ............................... and subject to such conditions as set out in the aforesaid **................................................... |
| (3) | *The right to erect and complete from time to time within a period of .............................. for *my/our/its personal account § .............................. on the specified portion of the common property as indicated on the plan [as referred to in section 25(2)(a) of the Act] and to divide such building or buildings into a section or sections and common property and to confer the right of exclusive use over portion of such common property upon the owner or owners of one or more sections in respect of the land described as ..............................and in the scheme known as .............................. in respect of the land and building or buildings situate at ‡ .............................................. and shown on Section Plan No. SS .................... and held under **............................... and subject to such conditions as set out in the aforesaid **…………………………………………. |
Signed at ............................................................ on ............................................................
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Mortgagor/ or his duly authorised agent
Before me...............................................................Conveyancer................................................................
Registered at.................................................on.............................................
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Registrar of Deeds
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Seal of Office
The Annexure to the bond shall be signed by the mortgagor and the conveyancer at the end thereof and when it consists of more than one page, each additional page shall be initialled by the said parties. The form must be adapted if other real rights are mortgaged. (Follow the description of the real right as it appears in the title of the right.)
* Omit which is not applicable.
† Insert ranking of bond.
‡ State name of town/city or suburb or township and local authority/description of the farm.
§ State which right i.e. section 25(1)(a), (b) or (c).
** State type of sectional title deed(s), notarial deed(s) and the number(s) thereof.
[Footnote to Form Z substituted by regulation 4(k) of Notice No. R. 774, GG41798, dated 27 July 2018]
[Form Z substituted by regulation 5(a) of Notice No. R. 883, GG43614, dated 14 August 2020]