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  • Writer's pictureThe Kaplan Team

THOUGHT OF THE WEEK Prescription of right to claim transfer of property

Did you know that a seller’s contractual obligation to pass transfer of a home sold to the purchaser, is a debt that can prescribe?

In the February 2018 judgement in Frieslaar N.O. & Others v Ackerman & Another the Supreme Court of Appeal once more confirmed the principle. It held that the running of prescription in respect of the transfer of a property commences on the date on which the seller’s obligation to effect transfer becomes due and, therefore, claimable by the purchaser. This date is determined by the specific provisions of the agreement the parties concluded. Generally, the obligation arises once the agreement has become unconditional and the purchase price has been paid or has been secured.

Although it may seem like an odd eventuality, prospective sellers and purchasers should be mindful of the fact that prescription always lurks in the background. Make sure to canvass every aspect of your transaction with your conveyancer.

Contact our professionals for assistance.

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This article is not intended to constitute legal advice and is produced for information purposes only and to provide a general understanding of the legal position relating to the topic. It is recommended that advice relating to the specific circumstances of your situation be sought from our attorneys before acting upon the content of this article. This article was written at a particular point in time and accordingly may not always reflect the most recent legal developments, if any, applicable to the relevant topic. Kaplan Blumberg and its partners and/or employees, are not responsible for any consequences which may follow upon any decision taken to act upon the information provided in this article.

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