DEVELOPMENT & SAVINGS BANK
Case No. 2638/97
Applicant Mr. S. Simelane
Respondent Mr. L. Khumalo
applicant seeks an order requiring the Registrar of Deeds (2nd
Respondent) cancel a mortgage bond presently registered over Lot 29
in Pigg's Peak,(the Property) . The bond is registered in favour of
1st Respondent, to secure a debt which is still extant and owing.
founding affidavit attested to by the Applicant discloses
July 1996 the Applicant obtained an order from this court requiring
the Registrar to register transfer of the property to him.
registered owner from whom Applicant had acquired the property had
passed a Mortgage bond in favour of the 1st Respondent.
applicant had purchased the property on an auction sale. Whether this
was a sale in execution at the instance of the 1st Respondent is not
clear. The applicant relies on this fact alone to support his further
allegation that he "reasonably expected the 1st Respondent to
cancel the said bond". .. No other information is given of the
transaction particularly as to the amount of the purchase price,
payment thereof, and why the purchase price has not been applied to
extinguish the debt secured by the mortgage bond.
facts alleged in the founding affidavit are insufficient on which to
entitle the Applicant to the relief claimed. The 1st Respondent
cannot be compelled to consent to" cancel the mortgage bond
until its claim, secured thereby, has been extinguished.
application is dismissed with costs.