n Without Prejudice - Cancellation of a mortgage bond does not alter the prescription period from 30 to 3 years - prescription law

Volume 20 Number 1
  • ISSN : 1681-178X


In 2017, the Supreme Court of Appeal (SCA) accepted the weight of academic authority which supports the view that once the mortgage bond has been cancelled, and the security ceases to exist, the debt is no longer secured and the extinctive prescription period is then altered from 30 years to three years (Investec Bank v Erf 436 Elandspoort (Pty) Ltd & others [2017] ZASCA 128). The court effectively accepted that the loss of security through cancellation of the bond may have a bearing on the character of the debt. This proposition is, however, no longer good law.

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