Question

Allison places an advertisement in the newspaper to sell her studio apartment in Umhlanga for R900 000-00. Simon, having recently relocated to Durban for work, is interested in the apartment after viewing it. However, before Simon accepts Allison’s offer, he would like to understand:

• The legal position in respect of acceptance of an offer;

• The legal formalities that the parties must comply with; and

• The concept of warranties and examples of possible warranties.

Write an essay that will assist Simon in understanding the issues (outlined above) that he has concerns with. In your essay you will need to include a discussion of the legal position as well as apply the law to the facts provided above. Your essay may not exceed 500 words

Answer 1

In the given situation,

few things are mndatory before purchase.

They are :

• Transfer of ownership is compulsory in registered form.
• Documentation of the owner and ownership are compulsory to be dafeguard from any fraudulent.
• Check the papers as some may kept with banks on lease.
• EMI's should be cross checked if with some other person.
• Assets installed must be cross checked and mentioned in the contract clearly and there condition of work.
• Locality and valuation of apartment as per locality must be done legally as no cheat is done by seller.
• Warranties of asset installed and the insurance if there mist be cross checked.
• Transfer of ownership should be legally done with documentation of seller and purchaser with three copies one with seller, one with purchaser and one with the legal authorities.

********PLEASE UPVOTE AS SMALL TOKEN OF APPRECIATION********