Guide to Buying Immovable Property in Zimbabwe
FUNGAI CHIMWAMUROMBE AND SIMBARASHE MUKWEKWEZEKE
The buying and selling of immovable property has become a frequent occurrence in our daily lives, which calls for greater due diligence on the part of both the buyers and sellers.
To safeguard your hard-earned money the following three steps are crucial in determining the legitimacy of the transaction.
1.Title of Property
There are generally two main forms of title attaching to immovable property: freehold, known as title deeds, and leasehold, which is often in the form of a lease-to-buy agreement with a local council and municipality.
Another form that is becoming popular is the developer’s cession which a developer of land grants before he has met requirements to effect a transfer.
It is important to ascertain title to the property you intend to buy as it has an impact on the transferability of the land in question as there may be clauses both in title deeds or lease-to-buy agreements that bar transferring or add requirements for its transfer to go through.
Where there are conditions set for transfer a buyer must consider if they can meet these said requirements.
Once the type of title is established a buyer must inspect the title to see if there are no incumbrances such as mortgage bonds and caveats.
If they happen to be there a buyers must insist on their cancellation before the purchase price is released to the seller.
- Authority to Sale
The second important aspect of a sale is to ensure you are transacting with the correct person either in the form of the seller himself or an authorised agent who holds a power of attorney empowering him to effect the sale on behalf of the seller.
Where an asset is being sold by a deceased estate, ensure that the agreement is with the Executor of the Estate and additionally that they have a valid consent to sale Issued by the Master of the High Court.
This step is of particular importance as any shortcuts can result in the total loss of the full purchase price and where fraud is involved the potential of having to prove you were an innocent buyer to the criminal courts when jointly charged.
- 3. Suitable for Use
It has become the norm for people to seek to use residential properties for commercial and developmental purposes. When one buys a residential property for purposes other than residential it is important to inquire with the local municipality if the intended purpose is permitted, or prohibited and if consent is required what type of consent is required. This measure will allow that the property purchased is suitable for its purpose. Before signing an Agreement of sale, speak to a conveyancer to advise you accordingly to avoid making payments before verifications as this can lead to unnecessary and avoidable complications.
Buying immovable property in Zimbabwe requires careful planning, legal awareness, and expert guidance. By understanding the legal framework, conducting thorough due diligence, and seeking professional advice, you can navigate the complexities of property acquisition with confidence. Whether you are an investor, homeowner, or developer, ensuring compliance with regulations and protecting your interests is paramount to a successful property transaction.
Fungai Chimwamurombe is a registered legal practitioner and Senior Partner at Chimwamurombe Legal Practice and can be contacted at fungai@zenaslegalpractice.com and WhatsApp 0772 997 889.
Simbarashe Mukwekwezeke is a registered legal practitioner and Partner at Chimwamurombe Legal Practice and can be contacted at simbarashe@zenaslegalpractice.com and WhatsApp +263 77 344 6854
