1 reviews | Active since Jul 2021
My parents sold their house and the contract was signed in November 2020. Since then, it has been a struggle to get the title deeds from Absa as they have "lost" it. This has been going on for 8 months without any success. It is an absolute disgrace that this institution has not been able to find a solution to a problem that they caused! "If you use you title deed as security to borrow a loan from the bank, but the bank loses your title deed, you still have the right to sell the property that the title deed covers. This way you can obtain the money to clear the loan even if the date set by the bank passes. In this case, the equity of redemption recognizes that you can buy or sell the property even if the bank is in custody of your title deed. Once you have cleared the loan, you have the right to demand that the bank issues an abstract or legal document that shows they no longer have any rights over the property, in case they are still in the process of replacing the lost title deed."(sic)
Best regards,
Best regards,
Best regards,
Best regards,
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