What happens to a jointly owned property if one owner dies in SA?

The portion of the bond owned by the deceased is tranferred to the living owner, who now becomes responsible for 100% of the debt as opposed to 50% as they were before.

The living owner may have to re-qualify for the bond so the bank can assess whether they can afford the bond on their own. If not, the property will have to be sold to cover the bond, and the living owner will only be entitled to 50% of the proceeds.

This is why many banks recommend taking out life insurance on a jointly owned property, as it will cover a portion of the bond if a joint-owner dies.