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Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan. [1][2] Formally, a mortgage lender (mortgagee), or other lienholder, obtains a termination of a mortgage borrower ...
South African property law regulates the "rights of people in or over certain objects or things." [ 1 ] It is concerned, in other words, with a person's ability to undertake certain actions with certain kinds of objects in accordance with South African law. [ 2 ] Among the formal functions of South African property law is the harmonisation of ...
Repossession. Repossession, colloquially repo, is a " self-help " type of action in which the party having right of ownership of a property takes the property in question back from the party having right of possession without invoking court proceedings. The property may then be sold by either the financial institution or third party sellers.
Nearly 1,000 homes in informal settlements in Cape Town, South Africa, have been destroyed by gale-force winds, displacing around 4,000 people, authorities and an aid organization said as the city ...
The South African law of sale is an area of the legal system in that country that describes rules applicable to a contract of sale (or, to be more specific, purchase and sale, or emptio venditio), generally described as a contract whereby one person agrees to deliver to another the free possession of a thing in return for a price in money.
Occupy Homes or Occupy Our Homes [1] [2] is part of the Occupy movement which attempts to prevent the foreclosure of people's homes. [1] Protesters delay foreclosures by camping out on the foreclosed property. They also stage protests at the banks responsible for the ongoing foreclosure crisis, sometimes blocking their entrances.
Mahlamba Ndlopfu (formerly known as Libertas) is the chief official residence of the President of the Republic of South Africa. The head of government has made it their official home since 1940 and it is located in the Bryntirion Estate in Pretoria. The building was built in 1940 and was designed by Gerard Moerdijk, a South African architect ...
The equity of redemption was the right to petition the courts of equity to compel the mortgagee to transfer the property back to the mortgagor once the secured obligation had been performed. [1] Today, most mortgages are granted by statutory charge rather than by a formal conveyance, although theoretically there is usually nothing to stop two ...