Devine Property Development NPC and Another v Kgosihadi Trading and Projects CC and Others (2023/032999)
Devine Property Development NPC and Another v Kgosihadi Trading and Projects CC and Others (2023/032999) [2025] ZAGPJHC 23 (17 January 2025)
On the undisputed facts, the property was purchased with funds contributed by members of the second applicant, and the first respondent was used solely as a temporary vehicle for registration. A verbal trust agreement existed, entitling the first applicant, upon its incorporation, to beneficial ownership and transfer of the property. The actions of the second and sixth respondents, including the purported sale of membership and attempts to frustrate transfer, were unlawful and opportunistic. The sixth respondent lacked locus standi, and his joinder was erroneously granted. The court found tha…
Source excerpt
- Verbal Trust
- Beneficial Ownership
- Transfer Of Immovable Property
- Company Membership Register
- Non Profit Company Compliance