1. Where X purchases a Sectional title unit, but since X does not have enough cash to pay the purchase price X borrows the balance of the purchase price from Y. Simultaneously with the transfer into his name, X mortgages the sectional title property (an apartment in a complex) in favour of Y to secure the loan .Analyse and explain the types of mortgage bond/s that will be registered.
2. X is now indebted to Y who is not satisfied with X's ability to repay the debt or the sectional title unit as security and demands an additional security. Z (a relative of X) is prepared to sign a suretyship to secure X's debt to Y. Analyse and explain the types of mortgage bond/s that may be necessary.