President Ramaphosa signs electronic deeds bill

PRESIDENT Cyril Ramaphosa has signed various bills into law, key among them the bill that will enable property deeds to be processed electronically.

The Electronic Deeds Registration System Act provides for the development of an Electronic Deeds Registration System – also known as e-DRS – through which South Africa will take advantage of the benefits offered by internet access, e-commerce and global computerisation in the management of security of property title.

The new system will enable the electronic processing, preparation and lodgement of deeds and documents by conveyancers and the Registrar of Deeds.

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“It will also enable the registration of large volumes of deeds effectively; improved turnaround times for providing registered deeds and documents to clients; countrywide access to deeds registration services; enhanced accuracy of examination and registration; availability of information to the public, and security features including confidentiality, non-repudiation, integrity and availability,” Presidency spokesperson Khusela Diko said.

This is set to greatly enhance security of title and the acquisition and disposal of fixed assets.

The property market in the country also stands to gain from the newly signed Property Practitioners Act of 2019, which repeals the 43-year-old Estate Agency Affairs Act of 1976 (Act 112 of 1976).

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“The Bill that the President has assented responds to the dynamic needs of the real estate industry and is aimed at improving the functioning of the property market, which includes regulating the buying, selling and renting of land and buildings,” said Diko.

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