Bank agrees to inquiry into delay

2009-10-17 11:21

STANDARD Bank has agreed to ­investigate the delay in releasing a

title deed belonging to a deceased mortgage bond account holder.

This was after Hotline stepped in to assist Mpho Ngubane, a

beneficiary to the estate of the late Melita ­Ngubane.

Ngubane of Palm Springs, south of Johannesburg, contacted Hotline a

few months ago and complained about his struggle to obtain the document from the

bank.

He said the deceased owed Standard Bank R40 000 on a personal loan

at the time of her death.

The deceased’s life cover policies should ordinarily have settled

all her debts.

“I am surprised that Standard Bank seems reluctant to release the

title deed,” said Ngubane.

Ngubane has wrestled the bank for more than three years over the

release of the title deed.

His mother passed away in 2006 and had put down the title deed as

collateral when she applied for the personal loan.

The bank and insurance companies were duly informed about the

account holder’s death.

A year later Ngubane was advised that all debts had been settled

but since then the bank has failed to hand over the the title deed. “The bank

just has to hand over the title deed. I am tired of the empty promises they have

been making.

“Their deceased estate office has also not been cooperative. I hope

that the promise they have made is a promise they will keep,” said

­Ngubane.

On September 23, Hotline referred the complaint to Ross Linstroom,

spokesperson for Standard Bank.

He promised to investigate the matter but up to this week and at

the time of going to press he had not provided ­Hotline with feedback.


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