Kajokoto & Company Legal Practitioners

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Some of the presentations and interactions with SMEs. Dr. Vhere and the Mr. Mushonga from Quest Financial Services takin...
13/09/2024

Some of the presentations and interactions with SMEs. Dr. Vhere and the Mr. Mushonga from Quest Financial Services taking the podium by storm. Zimpapers TV Network

Our Adv. W. Madzimbamuto taking the audience through the legal issues affecting SMEs and how to navigate them. Zimpapers...
13/09/2024

Our Adv. W. Madzimbamuto taking the audience through the legal issues affecting SMEs and how to navigate them. Zimpapers TV Network

Today we have the opportunity to interact with Small to Medium Business Enterprises. Our Adv. W Madzimbamuto shall be pr...
13/09/2024

Today we have the opportunity to interact with Small to Medium Business Enterprises. Our Adv. W Madzimbamuto shall be presenting on Navigating the Legal Aspects Affecting Small Business Enterprises.

Buying Deceased Estate Property by Willard Madzimbamuto IntroductionThe sale of Deceased Estate Property is yet another ...
02/08/2024

Buying Deceased Estate Property by Willard Madzimbamuto

Introduction

The sale of Deceased Estate Property is yet another area that requires serious introspection. Many have been prejudiced after sakes were later reversed, cancelled through legal proceedings due to various factors we shall attempt consider in this piece . As always emphasized legal guidance in these kinds of transcations remains paramount at least to mitigate some of the challenges .

What is Deceased Estate Property?

This is Property in the name of a Deceased person whether the Estate has been registered or not. It may include, houses, farms , vehicles , residential or commercial stands to mention but a few .

Under what circumstances may such Property be sold ?

1. The Deceased Estate must be registered firsy as we discussed last week .
2. An Executor must be appointed who then becomes in charge of the affairs of the Estate pending it's winding up. It is only the Executor who is mandated to sell Deceased Estate Property.
3. Consent of the Master must be sought first and granted in writing authorizing the sale of Deceased Property. Thus the Executor can only dispose of the Estate Property after being granted consent by the Master.

What are some of the reasons why Deceased Estate Property may be sold?

1. Decision taken by beneficiaries after the approval of the final & distribution Account .
2. Lack of funds to settle Deceased Estate related expenses.

What then are the risks associated with purchasing Deceased Estate properties?

1. Ignorance by the Public more particularly in that it is only an Executor after authorisation by the Master of the High Court who can dispose Deceased Property. Many fall into the trap of thinking that the Surviving spouse or children of the Deceased may simply sell.
2. Buying Property subject to disputes from third parties or beneficiaries themselves. There may be claims against the Estate which the Executor and Master may not accede to yet the High Court may later grant. This often results in Sales being cancelled.
3. Many easily fall for yhe price which us usually a Bargain without paying much attention to the desputes associated with the Estate .

What then can be done to mitigate the risk?

As always stated , engage Counsel of choice to do due diligence. Verification must be made , firstly to ascertain whether the Executor has been duly authorised to dispose of the property by the Master. More importantly an assessment mut be made from the record before the Master of the claims or nature of disputes that may be associated with the Estate Property being sold. This will help in making an informed decision .

Done by Willard Madzimbamuto who heads our Real Estate, Commercial & Labour Law Departments. He can be contacted on +263772231672 or email: [email protected]

Address

69 Munro Road, Cranbourne, Harare; 87A Alpha Block, Bindura
Harare

Opening Hours

Monday 08:30 - 16:30
Tuesday 08:30 - 16:30
Wednesday 08:30 - 16:30
Thursday 08:30 - 16:30
Friday 08:30 - 16:30

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