THOUGHT OF THE WEEK Update on new legislation that will impact on SA's property industry
Updated: Apr 7
Two Bills that will fundamentally impact South Africa’s property industry were expected to be passed by Parliament this year.
In September, the Portfolio Committee (Human Settlements) concluded its first stakeholder engagement meetings on the Property Practitioners Bill. A draft version hereof was first published in 2017 and a revised Bill was released in March of this year. The Bill seeks to, amongst other things, repeal the Estate Agency Affairs Act and to replace the Estate Agency Affairs Board with the Property Practitioners Regulatory Authority.
The window for commentary on the Electronic Deeds Registration Systems Bill closed on 5 October 2018. As its title states, the Bill seeks to introduce an electronic deeds registration system, specifically to ease registration of large volumes of deeds as necessitated by government’s land reform initiatives and to expedite the registration process in the deeds office.
We will update you as soon as the status of these Bills change. For more information, please contact us at email@example.com.