Prescribed debt and natis documents

**Cassie2405** · 09-Aug-16, 05:02 PM

]Hi , would really appreciate your help on this.
I have a bank financed vehicle. The bank informed me that the outstanding balance has prescribed. I requested the vehicle's natis documents but the bank refused. How do I go about it to get my vehicles natis documentation? Thank you

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**HR Solutions** · 09-Aug-16, 07:14 PM

You have to pay it up in full to get registration docs and then apply to change the details from the bank to you.

**Justloadit** · 10-Aug-16, 10:22 AM

The fact that the outstanding debt has prescribed, does not mean that the asset is yours, only the amount outstanding has been set aside.
Effectively the vehicle still belongs to the bank, and I am quite surprised that you are still driving it, as it does not belong to you.

**Citizen X** · 10-Aug-16, 11:09 AM

Originally Posted by Cassie2405

]Hi , would really appreciate your help on this.
I have a bank financed vehicle. The bank informed me that the outstanding balance has prescribed. I requested the vehicle's natis documents but the bank refused. How do I go about it to get my vehicles natis documentation? Thank you

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Ownership is the most comprehensive ‘real right,’ an individual can have. The bank currently holds this ‘real right.’

I have come across a few situations like this. What normally happens is that the bank is happy to entertain a prescription claim, but then subsequently sets in motion steps to have the vehicle repossessed.

Remember that the main purpose of prescription is to punish a creditor for not suing out summons against a debtor within a prescribed period of time.

**Dave A** · 10-Aug-16, 01:48 PM

Originally Posted by Vanash Naick

Ownership is the most comprehensive ‘real right,’ an individual can have. The bank currently holds this ‘real right.’

An abstract thought arises - Ownership may be "comprehensive", but possession is "real"

**Rynette** · 25-Sep-22, 01:48 PM

The way I understand this (Caselaw CCT 05/18) the bank also loose the right to take action to repossess the vehicle within 3 years. This 'return of property action' is considered a debt whether it is movable or immovable assets, and it prescribes in three years. You will never get the Natis documents from them unless 30 years has gone by, but hey what, ride the car untill it is on its last legs, and then sell it for scrap.