Do residential homeowners need to be concerned about land expropriation? – Terence Corrigan

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- biznews.com | 7 days ago

With the implementation of the ANC’s policy of land expropriation just around the corner, concern is growing about the reach of the legislation and whether residential property can be confiscated.

And opponents of the legislation have argued that banks are not clear if owners of private property would have to continue to pay a bond on a property or land if the government decides to grab it. Estate agents have tried to allay fears saying that the paranoia is not justified, while some legal experts have earlier stated that “anything that is done cannot prejudice the bond holder” which are the banks.

Terence Corrigan however believes that there may be ongoing liabilities for dispossessed homeowners and says urban property owners should be aware of the possibility that bond repayments may remain due and payable if a residential property is confiscated.

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