Radebe and Another v Sheriff For the District of Vereeniging and Others (31495/13)
Radebe and Another v Sheriff For the District of Vereeniging and Others (31495/13) [2014] ZAGPJHC 228 (25 September 2014)
The court found the Brusson scheme to be fraudulent, with the applicants never intending to sell their property but rather to secure a loan. The agreements signed were simulated and invalid, lacking the necessary intention for transfer of ownership. The mortgage bond registered in favour of Nedbank was declared invalid as it arose from unlawful transactions. Estoppel cannot be used to perpetuate an unlawful state of affairs, and the caveat subscriptor rule does not bind the applicants where they were misled. The application was not time-barred as the applicants acted promptly upon learning of…
Source excerpt
- Fraudulent Property Scheme
- Rescission Of Judgment
- Mortgage Bond Invalidity
- Restitution Of Property
- Estoppel
- Intention To Transfer