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Acceleration of loan and execution against property for failure to pay rates is enforceable

Photo of Patrick Bracher (ZA)
By Patrick Bracher (ZA) on June 28, 2024

The appellant borrowed money in terms of a loan agreement which entitled the lender to pay any rates, taxes, water and electricity on behalf of the borrower and to recover the amount, failing which to execute the debt against the property. When this happened the borrower said that the provision was unenforceable because it was…

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Norton Rose Fulbright’s financial institutions team provides straightforward legal updates. Our lawyers offer local insights with an international perspective recognised worldwide. This blog focuses on the South African market and is about sharing knowledge with you. Blog posts are not legal advice.

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