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- Title
A FRAMEWORK FOR ASSET TRANSFERS.
- Authors
Amadi-Ecendu, A. P.
- Abstract
The processes used to transfer immovable property from a seller to a buyer in South Africa are outdated and not digitised. Paper-based documents increase the risk of fraud and misrepresentation. This study considered the implementation of a cloud-based centralised database for property supply chain partners to enhance transparency, turnaround times, and security while minimising risks and costs. Digitalised property processes would result in title deeds’ dematerialisation and not merely the automation of the paper-based system. This qualitative study was exploratory, and semi-structured interviews were conducted with role-players involved with property transfers in South Africa. These included the South African Reserve Bank, the Department of Agriculture, Land Reform and Rural Development, the Law Society of South Africa, mortgage originators, The Banking Association, the Department of Home Affairs, the Registrar of each Deeds Office, the Surveyor General’s office, municipalities, software companies, National Treasury, South Africa’s Central Securities Depository (Strate Ltd), and the Tshwane Mettropolitan Municipal Council.
- Subjects
SOUTH Africa; CENTRAL securities depositories; TRANSFER (Law); SOUTH African Reserve Bank; REAL estate sales; CITY councils; LAND reform
- Publication
South African Journal of Industrial Engineering, 2023, Vol 34, Issue 4, p155
- ISSN
1012-277X
- Publication type
Article
- DOI
10.7166/34-4-2778