Company Names in Conditions and Consents to Cancellation
In terms of CRC 28 of 2013 it was decided that where a company’s name appears in a condition of title, such as servitude rights, restrictive or other conditions, it will not be necessary to change the name when the conditions are brought forward into a new deed. It will also not be necessary to update the title deed to reflect the new name of the company.
However, where there is a condition in a title deed indicating that consent (for example for the transfer of that property) is required from a company that has changed its name, such consent must reflect both the new and former name of the company.
Where a mortgage company has changed its name (once or several time) it will not be necessary to endorse the bonds to indicate the change in name when such bonds are lodged for cancellation. However, the consent to cancellation must refer to all changes of the name.
Tonkin Clacey (Pretoria)
Tel: 012 346 1278