THE FACTORS THAT INFLUENCE PROPERTY TRANSACTIONS

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Introduction

The purpose of any legal system is to regulate the relations of its people so that order is maintained within the society concerned and this include the relations amid the government and its people (Rudden, 2014, p. 1) and between individuals and businesses. Furthermore, land tenure is the relationship among people with respect to land (Department of Economic and Social Development, 2014, para 1 under 3.1). Rules of ownership delineate how property rights are to be apportioned within societies (Department of Economic and Social Development, 2014, para 1 under 3.1) with regard to the use, enjoyment, control, and transfer of land. In addition, restraints and responsibilities to land are also highlighted. Without secure land rights, there can be no sustainable developments as people will be reluctant to make long-term investments on land (Akinyemi & Nkubito, 2013, p. 3). External investors often only recognise titled landownership and fail to recognise the wide range of property rights that exist (Bomuhangi, Doss, & Meinzen-Dick, 2011, p. 78). Security of ownership provides a guarantee that the owner’s “land rights will be recognised and protected if challenged by others” (Abdulai & Owusu-Ansah, 2014, p. 131). It is in this vein that this study has been undertaken in order to ascertain how property rights may be recorded when property is transferred from one owner to another.

Key concepts in the study

A supply chain is a “network of suppliers and service providers that perform different value adding activities together, usually in a sequential manner, to produce value for customers” (Du, Lai, Cheung, & Cui, 2012, p. 89). In the conveyancing supply chain, stakeholders include buyers, sellers, estate agents, mortgage originators, conveyancers, municipalities, the master of the High Court and the deeds office. Supply chain management (SCM) aids organisations in managing the flow of information, money, and products outside of the organisation (Shih, Hsu, Zhu, & Balasubramanian, 2012, p. 70). Although the major objective of SCM is to use information sharing in order to create cooperation for competitive advantage among supply chain partners (Zeng, Wang, Deng, Cao, & Khundker, 2012, p. 547), the challenge is to establish a trust relationship among the parties (Shih, Hsu, Zhu, & Balasubramanian, 2012, p. 71).

Conceptualisation of study

Source: The Author During this study, the elements and concepts mentioned previously namely land administration, land registration, supply chain management, risk management and other security aspects, electronic records management, the role of information technology, and payment systems were incorporated into this thesis. This research comprises a multidisciplinary research, which incorporates these various study fields and disciplines into one study.

Research problem

Legal systems have been put into place to regulate and maintain order within societies (Rudden, 2014, p. 1). These legal systems aim to protect the rights of people. Rights of tenure regulate how property rights are granted and allocated within societies (Department of Economic and Social Development, 2014, para.1 under 3.6). The government of a country administers property rights. Land administration is the relationship between land and the people of a country (Kihato & Royston, 2013, p. 2).

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ABSTRACT
DECLARATION
ACKNOWLEDGEMENTS
CHAPTER 1 INTRODUCTION TO THE STUDY
1.1 INTRODUCTION
1.2 BACKGROUND TO THE RESEARCH PROBLEM
1.3 KEY CONCEPTS IN THE STUDY
1.4 RESEARCH PROBLEM
1.4.1 Secondary questions
1.4.2 Objectives of the study
1.5 RESEARCH METHODOLOGY
1.5.1 Phase 1: Literature study
1.5.2 Phase 2: Personal interviews
1.6 METHODS TO ENSURE TRUSTWORTHINESS AND CREDIBILITY
1.7 ETHICAL CONSIDERATIONS
1.8 LIMITATION OF THE STUDY
1.9 SIGNIFICANCE OF THE STUDY AND THE EXPECTED CONTRIBUTIONS
1.10 CHAPTER LAYOUT
1.11 SUMMARY
CHAPTER 2 THE FACTORS THAT INFLUENCE PROPERTY TRANSACTIONS
2.1 INTRODUCTION
2.2 LAND ADMINISTRATION
2.2.1 The land registration process
2.2.2 The cadastre
2.2.3 International electronic conveyancing
2.3 RECORDS MANAGEMENT
2.3.1 Electronic records management
2.3.2 Land data management
2.3.3 Electronic conveyancing in South Africa
2.3.4 E-government
2.4 DISCUSSION
2.5 SUMMARY
CHAPTER 3 SUPPLY CHAIN MANAGEMENT
3.1 INTRODUCTION
3.2 SUPPLY CHAIN MANAGEMENT
3.2.1 Supply chain visibility and transparency
3.2.2 Supply chain integration
3.2.3 Supply chain networks
3.2.4 Supply chain sustainability
3.2.5 Supply chain innovation
3.3 ROLE OF INFORMATION TECHNOLOGY IN SUPPLY CHAIN MANAG LAND ADMINISTRATION PROCESS
3.3.1 Role of IT in the land administration process
3.3.2 Role of IT in supply chain collaboration
3.3.3 Cloud computing
3.3.4 Security issues
3.3.5 Risk management considerations
3.4 PAYMENT SYSTEMS
3.4.1 Current payment systems
3.4.2 Virtual currency – the future of payment systems?
3.5 DISCUSSION
3.6 SUMMARY
CHAPTER 4 RESEARCH METHODOLOGY
4.1 INTRODUCTION
4.2 PHILOSOPHICAL FOUNDATION
4.3 RESEARCH DESIGN
4.3.1 Case study
4.3.2 Participants
4.3.3 Data collection method
4.3.4 Document review
4.3.5 Data analysis
4.4 TRUSTWORTHINESS OF THE STUDY
4.4.1 Credibility
4.4.2 Transferability
4.4.3 Dependability
4.4.4 Confirmability of the findings
4.4.5 Triangulation
4.5 RESEARCHER POSITIONALITY
4.6 LIMITATIONS AND DELIMITATIONS
4.7 RESEARCH ETHICS
4.8 SUMMARY
CHAPTER 5 PRESENTATION OF EMPIRICAL RESEARCH
5.1 BACKGROUND
5.2 PRESENTATION OF THE EMPIRICAL DATA
5.2.1 Theme 1: Supply chain management
5.2.2 Theme 2: Process
5.2.2.1 Cadastre and deeds office
5.2.2.2 Efficiencies
5.2.2.3 Inefficiencies
5.2.2.4 Gaps
5.2.2.5 Integration
5.2.2.6 Technology
5.2.2.7 Manual processes
5.2.2.8 Digitisation
5.2.2.9 Dematerialisation
5.2.2.10 Electronic deeds registration
5.2.2.11 International
5.2.2.12 Payments
5.2.3 Theme 3: Security
5.2.3.1 General security features and aspects
5.2.3.2 Fraud
5.2.3.3 Compliance
5.2.3.4 Risk
5.2.3.5 Risk mitigation
5.3 SUMMARY
CHAPTER 6 DISCUSSION
6.1 INTRODUCTION
6.2 THEME 1: SUPPLY CHAIN MANAGEMENT
6.2.1 Implications of Theme 1
6.3 THEME 2: PROCESS
6.3.1 Implications of Theme 2
6.4 THEME 3: SECURITY
6.4.1 Implications of Theme 3
6.5 FINDINGS
6.6 FRAMEWORK FOR ELECTRONIC CONVEYANCING
6.7 SUMMARY
CHAPTER 7 SUMMARY OF FINDINGS, RECOMMENDATIONS AND CONCLUSION
7.1 INTRODUCTION
7.2 OVERVIEW
7.3 SECONDARY RESEARCH QUESTION 1
7.4 SECONDARY RESEARCH QUESTION 2
7.5 SUMMARY OF CONTRIBUTIONS
7.6 RECOMMENDATIONS AS A RESULT OF THE STUDY
7.8 CONCLUSION
7.9 SUMMARY
REFERENCES