It happens frequently that when a bank grants a mortgage to a lender, it stipulates in the agreement that the right to sue for rental received from the property and the right to apply for eviction of unlawful occupiers, rights usually exercised by the landowner, are made over to the bank…
Property practitioners know that the details of a suspensive condition must be met to the tee for the condition to be considered fulfilled. In this matter, this was the essence of the enquiry, being: if a sale agreement is subject to a suspensive condition that the purchaser must secure a 100% bond by a stipulated date, and the purchaser secures only a 90% bond but pays the balance in cash within the due period, has there been compliance?…
This matter dealt with exactly this question and held firstly, that a co-occupant is a ‘consumer’ and could invoke the provisions of the Consumer Protection Act (CPA). The landlord had sent a notice to the tenant after he had breached the terms of the agreement by failing to make prompt payment of the rental..
There have been two recent cases dealing with agencies that traded without Fidelity Fund Certificates (FFC’s)…
Structuring a property purchase so that you buy the property (the bare dominium) and your partner a right of habitatio, could be an effective way of protecting the former against business risks of the latter. But remember that in determining the amount of transfer duty, calculated on a sliding scale, it is not so simple to argue that such an arrangement is two separate agreements and hence justifying a lower rate of transfer duty (calculated in respect of the separate transactions). ..
This judgment again illustrates how important it is for the seller of a home to be as candid as possible about patent defects that he knows of, failing which he risks being held liable to the purchaser for damages…