Bondev Midrand (Pty) Ltd v Letsholo and Others (59/2014) [2015] ZAGPPHC 677 (21 September 2015)

Bondev Midrand (Pty) Ltd v Letsholo and Others (59/2014) [2015] ZAGPPHC 677 (21 September 2015)

The respondents failed to comply with the third condition for extension of the building time limit, namely providing proof of an approved building loan. The impossibility of performance alleged by the respondents, arising from the caveat in the deeds registry, does not excuse their non-compliance, as the caveat is a normal consequence of legal proceedings and not attributable to any improper conduct by the applicant. The applicant is therefore entitled to exercise its contractual right to claim re-transfer of the property at the respondents' expense, with a refund of the original purchase price. The ancillary orders sought are consistent with the contract and necessary to give effect to...

Citation
[2015] ZAGPPHC 677
Parties
Applicant: Bondev Midrand (Pty) Limited; Respondent: Sinky Moses Letsholo; Respondent: Lerato Letsholo; Respondent: Registrar of Deeds; Respondent: Nqaba Guarantee SPV (Pty) Ltd
Court
North Gauteng High Court, Pretoria
Jurisdiction
South Africa
Judgment Date
21 September 2015
Case Number
59/2014
Procedural Posture
Civil Application / Final Judgment
Outcome
Application granted. The applicant is entitled to re-transfer of the property from the first and second respondents, subject to payment of the original purchase price. Costs awarded against the first and second respondents.
Judges
K.LA.M Manamela
Legal Topics
Specific Performance, Contractual Conditions, Impossibility of Performance, Building Time Limit
Land and Property Civil Procedure Specific Performance Contractual Conditions Impossibility of Performance Building Time Limit

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Parties

Bondev Midrand (Pty) Limited

Applicant

Sinky Moses Letsholo

Respondent

Lerato Letsholo

Respondent

Registrar of Deeds

Respondent

Nqaba Guarantee SPV (Pty) Ltd

Respondent

Procedural Posture

Civil Application / Final Judgment

Legal Issues

  1. 1 Whether the respondents complied with the conditions for extension of the building time limit.
  2. 2 Whether the applicant is entitled to exercise the option for re-transfer of the property due to breach of the building time limit condition.
  3. 3 Whether impossibility of performance due to a caveat in the deeds registry excuses the respondents from compliance.

Ratio Decidendi

The respondents failed to comply with the third condition for extension of the building time limit, namely providing proof of an approved building loan. The impossibility of performance alleged by the respondents, arising from the caveat in the deeds registry, does not excuse their non-compliance, as the caveat is a normal consequence of legal proceedings and not attributable to any improper conduct by the applicant. The applicant is therefore entitled to exercise its contractual right to claim re-transfer of the property at the respondents' expense, with a refund of the original purchase price. The ancillary orders sought are consistent with the contract and necessary to give effect to...

Court Disposition

Application granted. The applicant is entitled to re-transfer of the property from the first and second respondents, subject to payment of the original purchase price. Costs awarded against the first and second respondents.

Orders

  • The first and second respondents are ordered to take all necessary steps for the re-transfer of Erf 1746 Midstream Estate Extension 20 Township to the applicant.
  • The first and second respondents are to bear the costs associated with the re-transfer.