Moving from tenant to ownership

THE CITY of Cape Town owns 62 residential units in Schotschekloof, Bo- Kaap, which were built between 1992 and 1993, and one is now owned by Jassiem and Asiela Francis.

The couple’s property is one unit in a row-type dwelling that consists of six units, each of which was sold to people on the housing waiting list by way of a deed of sale on a delayed transfer basis, which means the property was sold on a longterm loan basis.

“We have committed to bringing about redress by transferring ownership of properties to tenants who were denied property ownership previously,” says the City’s mayoral committee member for assets and facilities management, councillor Stuart Diamond.

Of the 62 dwellings that have been purchased, 37 registrations have been completed to date and six are in the transfer process. When transfer has been registered and the title deed is received from the Deeds Office, deeds will be handed over to the property owners.

In terms of qualifying criteria, the City says it will first establish if the person requesting ownership of the delayed transfer dwelling is the original loan account holder and purchaser. If they are, transfer of ownership can be initiated once the loan account has been paid in full. Purchasers may qualify for a subsidy to assist with the payment of outstanding amounts. If they are not the original loan account holder or purchaser, the City will investigate the circumstances to determine eligibility.

Purchasers are invited to call at the Housing Office at 50 Wale Street to enquire about transfer of ownership.