REJ - 2016

CONDITIONAL ACCEPTANCE OF OFFER – 29 APRIL 2016

You as seller are 99% happy with an offer presented to you by a potential purchaser, but one or two things still bother you. To make sure the deal is not lost, you make your desired amendments to the offer and then sign it…

CONSIDER THIS BEFORE CANCELLING A LEASE – 23 MAY 2016

To-ing and fro-ing in negotiations regarding alterations to premises before commencement of the lease period, lead the tenant in this matter to ultimately walk away from the deal as the premises appeared not to be ready for occupation on the lease commencement date…

DAMAGES CLAIM FOR AGENT PREVENTED FROM PERFORMING MANDATE – 31 MARCH 2016

Granting an exclusive mandate to an agent generally means that, for a determined period of time, the agent has the sole right to market the property and solicit offers in respect thereof. Where the seller breaches the provision, he may be liable to pay damages equal to commission to the agent who has been frustrated in performing his/her duties, as the interesting facts of this matter illustrate…

FFC IN NAME OF COMPANY, NOT CC: NO COMMISSION – 25 NOVEMBER 2016

An estate agent’s Fidelity Fund Certificate (FFC) is a prerequisite for the agent to operate and earn commission. The law requires further that where the agent is a company or close corporation (CC), a FFC is required for both the company or CC and the directors or members…

I DIDN’T KNOW VAT IS PAYABLE! CAN I GET OUT OF SALE? – 1 AUGUST 2016

Modern laws brim with many safeguards for consumers, also in execution sales where both the Rules of Court and the Consumer Protection Act are relevant. Against the background of these provisions, the question that arose in this matter was whether the consumer rights of a successful bidder at an execution sale were denied by the fact that the sheriff did not inform him that VAT would be payable, despite the sale conditions noting that the purchaser will be liable for the costs of transfer…

LAPSED OFFER AS BASIS FOR NEW SALE: THINK TWICE – 7 DECEMBER 2016

An interesting conundrum arose in this matter. The seller and buyer renegotiated an agreement after the buyer’s first offer lapsed. The later agreement was based in main on the provisions of the lapsed offer but, in an attempt to avoid complication, they backdated the agreement so that it fell within the initial offer’s acceptance period…

MY PROPERTY, IN HER NAME – 25 MAY 2016

Who is considered the ‘owner’ of a property that was bought here by a foreigner, but registered in the name of his South African partner because he was made to believe that he could not, as a foreigner, obtain registration in his own name?…

NOT A TRIFLE TO WALK AWAY FROM A SALE – 4 FEBRUARY 2016

A purchaser, disenchanted with the rate of completion of extras in the equestrian estate in which he invested, sought to cancel the agreement as a result. The court was asked to determine, almost six years after signing the sale agreement, whether he could do so when no date was stipulated by when the extras in the development should be completed…

Play Open Cards in a Sale -19 April 2016

If A sells her river-fronting property to B, knowing that the existence of water rights is crucial to B for his intended small scale farming operations, and withholds important information regarding water availability, such fraudulent misrepresentation can, depending on the circumstances, mean the end of the agreement or allow B to claim a reduced purchase price…

RESISTING EVICTION: ALTERNATIVE ACCOMMODATION SCARCE – 28 JUNE 2016

A court will evict someone from a property if it has been shown that the person is there illegally (such as where a tenant refuses to leave after the landlord cancelled the lease). The PIE Act however obliges a court to consider various additional factors, including availability of alternative accommodation, before such an order is made…

TOUGH TIMES AND HANGING IN THERE – 15 APRIL 2016

This judgment offers a valuable lesson to debtors who fall behind with bond repayments in difficult times. What is notable is that the court assisted the debtor, at least temporarily, where she could show that, during the hard times, she regularly maintained instalments on the loan account, although in a lesser amount;…