Companies owning immovable property and operating a share block scheme Article written by Erin Gradidge, checked by Divina Naidoo, Associate, and released by Chantelle Gladwin-Wood, Senior Partner at Schindlers Attorneys. 12 August 2022 BODY OF ARTICLE: Introduction The Transfer of shares in a company owning immovable property and operating a share block scheme only gives

THE DUTY TO DISCLOSE

INTRODUCTIONThis article briefly explores the duty of the seller and the property practitioner to disclose defects to prospective purchasers when selling immovable property, and the parameters of this duty. DISCLOSURE AND PROPERTY PRACTITIONERSThe duty of an estate agent with regards to the issue of disclosures is set out in Regulation 34.3.2 of the Property Practitioners
BACKGROUND AND SUMMARY Bothongo Agriculture GP (Pty) Ltd (the “Applicant”) owns the Rhino and Lion Reserve, a plot of land adjacent to the property in respect of which the application was launched (the “Property”). The Applicant sought to acquire the Property from the first respondent, Kerbyland (Pty) Ltd (the “First Respondent”), which Property was being