Land Titles Adjustment Act, 1993 (Act No. 111 of 1993)12. Sale and transfer of certain land and distribution of proceeds |
| (1) | If the commissioner is of the opinion that any particular piece of designated land should not be subdivided or that any undivided share in such piece of land should not be transferred to an owner, the commissioner may, with the approval of the Minister, designate such piece of land as land which shall be sold in such manner and on such conditions as the Minister may determine, but subject to the provisions of this section. |
| (2) | Any piece of land referred to in subsection (1) shall be sold and be transferred free from any mortgage or any trust, fideicommissum, usufruct or other encumbrance by virtue of a will or other disposition in writing, but subject to any other registered right with which the land is encumbered at the date of allocation in terms of section 10(1). |
| (3) | The proceeds of a sale under subsection (1) shall be paid to the Director-General and shall be distributed by him in accordance with the provisions of this section. |
| (4) | The proceeds shall be allocated by the commissioner to the owners concerned in such manner that the amount allocated to an owner bears in relation to the total amount of the proceeds the same ratio as the share or shares of such owner bear in relation to the total shareholding in the land concerned. |
| (5) | From the amount allocated to an owner in terms of subsection (4), there shall be deducted— |
| (a) | any amount payable in terms of section 5(2) by such owner to the Director-General and such part of the expenditure incurred by the commissioner in connection with the sale as bears the same ratio to such expenditure as the share or shares of such owner bear to the total shareholding in the land concerned; |
| (b) | if the land concerned or any undivided share in such land was subject to a registered mortgage, the amount of the mortgage debt. |
| (6) | An amount deducted in terms of subsection (5)(b) shall be paid by the Director-General to the mortgagee concerned. |
| (7) | After the deductions under subsection (5) have been made, the balance of the amount allocated to an owner in terms of subsection (4) shall— |
| (a) | if the share of such owner in the land concerned was burdened, as contemplated in subsection (2), with a trust, fideicommissum, usufruct or other encumbrance by virtue of a will or other disposition in writing, be deemed to be the subject of such trust, fideicommissum, usufruct or other encumbrance in place of that share and shall be paid by the Director-General to the master of the provincial division of the Supreme Court of South Africa having jurisdiction in the area in which the land concerned is situated; |
| (b) | in any other case, be paid to the owner or, if his address is unknown, to the said master. |
| (8) | For the purposes of this section "owner", in relation to the sale of land or to an undivided share in land or to the distribution of the proceeds of such a sale, means a person registered in the deeds office as owner of such land or such undivided share or a person to whom such land or such undivided share has been allocated in terms of section 10(1). |