Maryna holds the BA, LLB, LLM degrees and is a Director at the Cape Town offices of STBB. She is an admitted Attorney, Notary Public and Conveyancer with many years of experience in the field of property law and conveyancing. She is also the firm's Marketing Director and attends to external publications for the firm as well as conducts ongoing training for estate agent and bankers training and is a regular seminar presenter for attorneys and property practitioners.

Property Law Update | Issue 24 – 2016

SECURITISATION: MY BOND IS WITH BANK ‘X’: CAN ‘Y’ SUE ME FOR PAYMENT?

Home Obligors Mortgage Enhanced Securities (Pty) Limited v Louw and Another (5545/2012) [2016] ZAKZPHC 44 (30 May 2016)

Property owners are often taken aback when, after defaulting on the loan repayment, they receive a summons from an entity other than the bank that granted the mortgage finance. In many instances this is due to securitisation, a process briefly explained in this judgment. The question that follows is whether the defaulting home owner can avoid execution against his home on the basis that he had no knowledge and gave no consent to the loan being securitised in this way?

The Judgment
Summary of the Judgment

 

CONSIDER THIS BEFORE CANCELLING A LEASE

Lobelia Investments (Pty) Ltd v RTT Group (Pty) Ltd (9837/2014) [2016] ZAKZDHC 21 (23 May 2016)

To-ing and fro-ing in negotiations regarding alterations to premises before commencement of the lease period, lead the tenant in this matter to ultimately walk away from the deal as the premises appeared not to be ready for occupation on the lease commencement date. The tenant however did not follow the notice period prescripts in the breach clause. Was the cancellation legally valid?

The Judgment
Summary of the Judgment