insolvency

L7. Basic Terms in Property Sales

1. Immovable property Is land, whether unimproved (i.e. vacant) or improved (i.e land with permanent improvements such as a house). A piece of land and all the permanent improvements constitute a single entity, namely one immovable property. This means that the permanent improvements cannot be sold independently of the land. It is also not possible to transfer ownership in portions of a building to...

L11. Insolvent Estates

The sequestration process involves a Court Application. The Applicant in the Application is either yourself for your own sequestration (voluntary surrender) or the Applicant is one of your creditors (either a friendly or aggressive creditor). The applications are similar and although there are some different requirements for each, the result is the same. 1. Voluntary surrender Voluntary surrender...

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