Deed of Cancellation of Hypothec

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{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Deed of Cancellation of Hypothec

Deed of Cancellation of Hypothec

Company Letterhead

{{firm_name}}

{{firm_registration_number}}

{{firm_address}}

Tel: {{firm_phone}}

Email: {{firm_email}}

Website: {{firm_website}}

DEED OF CANCELLATION OF HYPOTHEC

Registration Number of Hypothec: {{hypothec_registration_number}}

Date of Registration of Hypothec: {{date_of_hypothec_registration}}

PARTIES

**WHEREAS:**

**1. The Mortgagor (Bond Debtor):**

Name: {{mortgagor_name}}

Identity/Registration Number: {{mortgagor_id_number}}

Address: {{mortgagor_address}}

**2. The Mortgagee (Bond Holder):**

Name: {{mortgagee_name}}

Identity/Registration Number: {{mortgagee_id_number}}

Address: {{mortgagee_address}}

BACKGROUND

**A.** The Mortgagor is the registered owner of the property described below (**“the Property”**):

Property Description: {{property_description}}

Title Deed Number: {{title_deed_number}}

Erf/Farm Number: {{erf_farm_number}}

Town/District: {{town_district}}

Province: {{province}}

**B.** The Mortgagee registered a hypothec (mortgage bond) over the Property in the Deeds Office, registration number {{hypothec_registration_number}}, for the sum of ZAR {{hypothec_amount}} ({{hypothec_amount_in_words}} Rand) on {{date_of_hypothec_registration}}.

**C.** The Mortgagor has fully discharged all indebtedness and obligations secured by the aforementioned hypothec.

**D.** The Mortgagee hereby confirms receipt of all amounts due and acknowledges that the hypothec is no longer required as security.

CANCELLATION

NOW THEREFORE, the Mortgagee, being the lawful holder of the hypothec registered under number {{hypothec_registration_number}} in the Deeds Office at {{deeds_office_location}}, hereby consents to and authorises the Registrar of Deeds to cancel the aforesaid hypothec in its entirety.

The Mortgagee declares that no further claims or encumbrances are held against the Property by virtue of the said hypothec.

WARRANTY

The Mortgagee warrants that it has the full legal capacity and authority to effect this cancellation and that all necessary internal authorisations have been obtained.

GOVERNING LAW

This Deed of Cancellation shall be governed by and construed in accordance with the laws of the Republic of South Africa.

DATE AND PLACE OF EXECUTION

SIGNED at {{place_of_signature}} on this {{day_of_signature}} day of {{month_of_signature}}, {{year_of_signature}}.

SIGNATURE

___________________________

{{signature_name_mortgagee}}

For and on behalf of {{mortgagee_name}}

Duly Authorised

WITNESSES

1. ___________________________ (Name: {{witness_1_name}})

Address: {{witness_1_address}}

2. ___________________________ (Name: {{witness_2_name}})

Address: {{witness_2_address}}