(1) A proprietor, may, by an instrument in notarial form, hypothecate his or her land or lease to secure the payment of an existing or a future or a contingent debt or any other money or the fulfilment of a condition.
(2) The hypothec shall be completed by its registration as an encumbrance and the registration of the person in whose favour it is created as its proprietor and by filing the instrument.
(Amended by Act 7 of 1986)