Maryna holds the BA, LLB, LLM degrees and is a Director at the Cape Town branch of STBB. She is an admitted Attorney, Notary Public, Conveyancer and Insolvency Practitioner with many years of experience in the fields of property law, conveyancing and the laws relating to corporate compliance (especially in respect of the FICA and POPIA laws). Up until 2018 she was also head of the firm’s national marketing portfolio. She is a seasoned public speaker and presenter, both in person and online. She prepares text for the majority of STBB’s internal and external publications and is editor and co-writer for two pivotal publications in the South African real estate industry – the ABC of Conveyancing (JUTA) and Delport’s South African Property Law and Practice (JUTA).

Property Law Update | Issue 07 – 2017

BUYING A BUSINESS WITH A HOMELOAN: IS AFFORDABILITY MEASURED WITH REFERENCE TO BORROWER’S INCOME OR TO THE BUSINESS’ ESTIMATED PROFITS?

Wiese and Another v Absa Bank Limited (14580/2013) [2017] ZAWCHC 12
(24 February 2017)

May a bank refer to the projected income of a separate commercial entity when assessing affordability of a personal loan for a consumer, in circumstances where the loan to be advanced to the customer is for the specific purpose of purchasing that commercial entity? The consumer here argued that the bank knew that his salary was insufficient to cover the instalments under the homeloan whilst the bank maintained that the estimated income of the franchise that the borrower intended to acquire with the loan, would be adequate to enable him to repay the loan.

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The Judgment
Summary of the Judgment

 

STBB’S STSMA REFERENCE GUIDE

In this, the fifteenth set of notes for your STSMA Reference Guide, section 16 of the Act is discussed.

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Section 16 of the Act – Appointment of Administrators
(N.B. Print in landscape)

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