“We’re happy to announce that 10 000 title deeds have been successfully transferred to the rightful homeowners, through the FMFs Khaya Lam initiative.” – David Ansara, CEO of the Free Market Foundation
Through the concerted efforts of our generous sponsors, conveyancers, municipalities, and the Free Market Foundation (FMF)’s dedicated Khaya Lam team, we have been able to provide a sense of dignity and security that comes with property ownership to these deserving 10 000 recipients and their families. Today, the FMF hosted an event in Klapmuts, near Stellenbosch, in celebration of that achievement.
Currently, in South Africa, there are between 5 and 7 million homes that are owned by municipalities, with at least 20 million South Africans living insecurely in them. Many of these properties were built by the apartheid government in so-called “dormitory” townships across the country. Many families built their own small houses but even so hold no title. ‘This reduces the residents of these homes to mere tenants, with no way of securing that the properties be left to their families when they pass on’, said David Ansara, CEO of the Free Market Foundation.
A major factor in the backlog is the cost of transferring title deeds, which is simply unaffordable to most of the legitimate inhabitants, especially the elderly, pensioners, single parent families, and the unemployed, who simply cannot afford the regular cost of the titling process.
The FMF decided to become directly involved in the titling process and turned to generous South Africans and philanthropists from outside South Africa for funding. The cost of titling a modest house with an average value of R100,000 is advertised at about R6,500. Owing to the fact that transfers are done in bulk, the current Khaya Lam cost is much lower at R2,950 per title (which includes the cost of all the administration, fundraising and titling costs).
‘We understand that there is still a long way to go to seeing that every rightful home owner be given title to their property, but we are encouraged by the progress that we have made and we invite our fellow South Africans to get on board and partner with the Khaya Lam initiative, because ownership means dignity’, Ansara concluded.
To learn more about Khaya Lam, visit: https://www.freemarketfoundation.com/khaya-lam-fundraiser
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