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21 Sep 2009

some legal advice please - on property
Hi I need some advice, I sold my property and took a R100,000 as a deposit on a new property which my son bought on his name as I would not qualify for a bond on my salary, I paid the transfer fees as well, we took a further bond of R170,000 which we split R100,00 was taken by him, I took the rest R70,000, I pay the bond every month of R3,500 he pays R2,500, for the R100,00 he took. Now he tells me he cannot pay that amount anymore and we must sell the property, which I think is unfair I bought this property under the impression I will stay ythere when I retire, what grounds do I have, can I refuse to sell?
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Expert
CyberShrink
cybershrink

01 Jan 0001

I can't ive legal advice. It sounds unwise that you made these complex joint plans without a formal legal agreement about how to handle situations such as that which has since arisen, and without clarifying who the property actually belongs to and who has what power to make this sort of decision.
You need advice from a real lawyer, but Anon's comments make a lot of sense
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