Property experts welcome Deeds Registries Amendment Bill

Conveyancers and property experts have welcomed the Deeds Registries Amendment Bill which has recently been signed into law by President Cyril Ramaphosa.

Government says the move seeks to enhance, create ease and uniformity in the deeds registration processes.

The legislation is also expected to result in the modernisation of the deeds system and records, subject to the Electronic Communications and Transactions Act.

Founder and CEO of Landsdowne, Jonathan Kohler says the Deeds Amendment Bill will grow the property industry and promote property ownership in the country.

“For the real estate sector and the country as a whole this means quicker access to funds which will support homeownership and stimulate economic growth. This bill could act as a catalyst for revitalizing the property market especially with better business and consumer sentiment, expectations of interest rate cuts and a stronger rand, a faster more efficient registration process with less red tape and improved governance will only strengthen these positive trends.”