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How to avoid disputes over jointly owned property
Co-ownership is the mother of disputes (Roman law maxim) Buying property can be an excellent investment, but it can also be expensive. So sometimes it makes a lot of sense to share the financial burden with someone else. Perhaps for example you are spouses or life partners buying your first home. Perhaps you are a group of fa...
Can you still sell as is? CPA v the voetstoots clause
Both sellers and buyers (of anything – houses, cars, you name it) need to understand how the CPA (Consumer Protection Act) has impacted on the very common “voetstoots” (“as is”) clause. Firstly, what’s the difference between “patent” and “latent” defects? Before we get into the meat of this question, let’s understand two i...
Security estates: Are your rules enforceable?
It is well established that contractual provisions are against public policy ‘… if there is a probability that unconscionable, immoral or illegal conduct will result from the implementation of the provisions according to the tenor (extract from judgment below) When you choose to buy into a security estate or other community sch...
Suretyships: Friend or Foe?
A suretyship can be a blessing or a nightmare, depending on what side of the suretyship coin you are on. The basics A suretyship is a form of security wherein one person (the surety) guarantees and binds themselves for the debt and obligations of another (the principal debtor) in favour of a creditor. It creates a persona...
Plot-and-plan: Great Option, Just Beware The Building Deadline
Buy land, they’re not making it anymore (Mark Twain) Buying a house is an important and exciting experience. One of the first decisions you must make is whether to buy an existing house (the “turnkey” option) or to buy from a developer on a “plot-and-plan” (“off-plan”) basis. Which option is best for you only you can de...