The first paragraph [of Notarial Bonds] alleges that it is not possible to register a notarial bond other than over corporeal movable property and that therefore a notarial bond having a short-term lease as security is not capable of being registered.
This is directly contradicted by F E van der Merwe on page 163 of his "Notarial Practice" (Butterworths 2001) where he says quite clearly that " the security so hypothecated [by way of a notarial bond] may be corporeal movable property or incorporeal movable property. In footnote 6 on that page he gives a short-term lease of immovable property as one of the examples. He also cites his authorities for this proposition.
A further authority for incorporeal notarial bonds being registrable is A S West, Chief: Deeds Training, Pretoria " Practitioner's Guide to Conveyancing and Notarial Practice" (Fifth issue 2003) page 200.