Deeds Registries Act, 1937 (Act No. 47 of 1937)Chapter V : BondsGeneral Provisions53. Exclusion of general clause in mortgage bonds |
| (1) | Save as provided in any other law the registrar shall not attest any mortgage bond which purports to bind movable property or which contains the clause, commonly known as the general clause, purporting to bind generally all the immovable or movable property of the debtor or both and shall not register any notarial bond which purports to bind immovable property. |
| (2) | No mortgage bond shall be passed by two or more mortgagors unless it purports to bind immovable property of each mortgagor: Provided that notwithstanding the provisions of subsection (1) of section fifty, land held subject to a condition that, on the happening of a certain event, such land shall revert to a person named in such condition, may be mortgaged by the owner thereof and such person by means of a bond passed by them jointly and severally, or may be mortgaged by the owner of such land with the consent of such person. |
[Section 53(2) substituted by section 24 of Act No. 43 of 1957]