Issue 05 – 2019

Posted on: March 25th, 2019 by STBBSiteOwner

AGENCY CONVERTING FROM CC TO COMPANY: EXISTING FFC STILL VALID?

Tria Real Estate (Pty) Ltd v Labuschagne and Another (5583/2018) [2018] ZAFSHC 198 (6 December 2018)

Where an estate agency converted form a close corporation to a company, are the Fidelity Fund Certificates issued to the close corporation and its members sufficient and compliant with the requirements of the Act for the purposes of the operation of the (new) company and its directors? The judgment answers this question and illustrates the outcome of a dispute between an estate agency and an ex-intern employee regarding restraint of trade and the validity of the agreement they had entered into.

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The Judgment
Summary of the Judgment

SELLING A PROPERTY IN CONTRAVENTION OF SECTION 10 OF THE HOUSING ACT

Tapala and Another v Tlebetla and Others (89400/16) [2019] ZAGPPHC 46 (22 February 2019)

In a complex set of facts where there was fraud and the sale of a property to two different purchasers, issues arose regarding the correct interpretation of section 10 of the Housing Act. This section of the Act finds application in the sphere of sustainable housing developments and it has a prohibition against the sale of a property within a period of 8 years if it was not first offered to the relevant provincial housing authority. The question the court had to determine here was what happens where a sale and transfer occurred in contravention of these principles.

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The Judgment
Summary of the Judgment

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