Property Practitioners And Stakeholders Take Note!

On Wednesday 2 October two pieces of legislation were signed into law by president Cyril Ramaphosa that directly impact the property industry.

One is the Electronic Deeds Registration Systems Bill which will see the development of an electronic deeds registration system (also known as e-DRS) which is expected improve the turn-around time for providing deeds and documents to clients.

The other is the much anticipated and oft debated Property Practitioners Bill which will replace the 43-year old Estate Agency Affairs Act of 1976. According to the Property Practitioners Bill the Estate Agency Affairs Board is to be replaced as regulatory body by the Property Practitioners Regulatory Authority.