Rigacraft CC v Ramachela and Another (6967/2014)
Rigacraft CC v Ramachela and Another (6967/2014) [2015] ZAGPPHC 259 (8 May 2015)
The court found that the Brusson scheme constituted a fraudulent and simulated transaction, void ab initio for non-compliance with the National Credit Act and lack of genuine intention to transfer ownership. The purported transfers to investors and subsequent mortgage bond registrations were invalid, as the father never intended to transfer ownership and the investors never intended to acquire it. Consequently, the applicant, having acquired the property through a chain of void transactions, is not the true owner and cannot vindicate the property. The respondent and his family are not unlawfu…
Source excerpt
- Prevention Of Illegal Eviction Act
- Simulated Transaction
- Fraudulent Transfer
- National Credit Act Non Compliance
- Onus In Eviction
- Vindicatory Relief