The new NCA does not only regulate instalment sale agreements and lease agreements in respect of movables as was done by its predecessor, the repealed Credit Agreements Act 75 of 1980. The NCA also applies to a much wider variety of credit agreements and has no monetary cap. Instead of instituting legal action a creditor […]
Is the buyer of an immovable property responsible for paying the seller’s outstanding municipal account?
Are buyers of property responsible for the payment of outstanding municipal debt run up by the previous owner of the property? The short answer is “Not anymore”. For the long answer please read the rest of this article. What happened in the past? Municipalities had to issue rates clearance certificates without which a property couldn’t […]