Maryna holds the BA, LLB, LLM degrees and is a Director at the Cape Town offices of STBB. She is an admitted Attorney, Notary Public and Conveyancer with many years of experience in the field of property law and conveyancing. She is also the firm's Marketing Director and attends to external publications for the firm as well as conducts ongoing training for estate agent and bankers training and is a regular seminar presenter for attorneys and property practitioners.

Property Law Update | Sale subject to ‘obtaining funds from’ an inheritance

Patrinos (N.O) v Theresa (883/2021) [2021] ZAFSHC 226 (17 September 2021)

In property sale transactions that do not follow the usual pattern – facilitated by an estate agent with funding obtained from a bank – it is important for sellers and buyers to pay very special attention to details. In this matter, the parties included a suspensive condition rendering the sale subject to the purchaser “obtaining funds” from a deceased estate. The inheritance was subsequently paid over, but not before the purchaser grew cold feet and sought to escape liability. She argued that the agreement lapsed for lack of “obtaining funds” by a certain date, as the funds were not paid over at the relevant date. The seller argued there was fulfillment as the funds were “available”, and the condition met.

Summary of the Judgment

The Judgment

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