Why does it take so long for a property to register in South Africa?
Apparently there are countries where it is as easy to buy a property as it is to buy shoes – you see it, you sign and pay for it, information goes to a central data system and you own it almost the same day! But then apparently there are also countries (e.g. USA ) where home owners sometimes take out Title Insurance to safeguard them against the possibility that their Title Deed may be invalid!
Up to this day, South Africa seems to rank as one of the best in the world with regard to Security of Title, due to our strict Title Deed system as well as the specific knowledge and expertise of the role players, i.e. conveyancers, deeds staff, etc. A conveyancer is a lawyer who has acquired additional conveyancing qualifications and specialises in the legal aspects of buying, selling and transferring title of property.
Even though it seems to take forever for a transaction to register, in South Africa the strict Title Deed system has resulted in everyone having complete confidence in the accuracy of its data.
Property rights and ownership are, thankfully, enshrined in our constitution, contributing to investor confidence and peace of mind for the home owner as it grants strong protection to your rights and interests and also safeguards the integrity of our land registration system!
All of this should mean something to the man on the street who is making the biggest investment he will ever be likely to make. Buying a home is, after all, much more important than buying shoes!
You can now read part 2 of this series, entitled: What exactly does the conveyance of a property in South Africa entail?