News / National
Buyanga wins property battle with man who defaulted on loan
01 Oct 2020 at 07:12hrs | Views
A court has ordered the estate of an indebted dead man to transfer ownership of a Harare house to a company owned by business tycoon Frank Buyanga – ending a 10-year legal battle.
Cyprian Musarurwa borrowed US$21,700 from Hamilton Property Holdings in 2009, using his 4,109 square-meter home in Chadcombe township as surety.
The agreement with Hamilton stated that he would cede his rights to the property in the event of defaulting on the loan.
The Harare High Court heard that after failing to pay back the loan, Murarurwa refused to complete the necessary paperwork to complete the transfer – setting off a lengthy legal battle.
Musarurwa died early this year, but not before – Hamilton's lawyers argued – he fraudulently got a caveat placed on the property by Hamilton lifted. He then obtained replacement title deeds which he used to subdivide the property and sell off part of the land to Harare resident Joseph Machipisa.
Justice David Mangota, in an order made this week, said: "It is ordered that the permit dated January 31, 2019, to subdivide stand 282 Chadcombe Township is hereby declared null and void.
"The first respondent (Musarurwa estate) signs all documents and takes all necessary steps to pass transfer of the property to the applicant within seven days of granting of this order."
Musarurwa was one of dozens of people who took money from Hamilton but failed to pay back. Many have gone to court accusing Buyanga of loan sharking and making them sign unfair contracts.
Hamilton's court victory leaves dozens of people who took the same stance as Musarurwa at risk of losing their properties.
Cyprian Musarurwa borrowed US$21,700 from Hamilton Property Holdings in 2009, using his 4,109 square-meter home in Chadcombe township as surety.
The agreement with Hamilton stated that he would cede his rights to the property in the event of defaulting on the loan.
The Harare High Court heard that after failing to pay back the loan, Murarurwa refused to complete the necessary paperwork to complete the transfer – setting off a lengthy legal battle.
Musarurwa died early this year, but not before – Hamilton's lawyers argued – he fraudulently got a caveat placed on the property by Hamilton lifted. He then obtained replacement title deeds which he used to subdivide the property and sell off part of the land to Harare resident Joseph Machipisa.
Justice David Mangota, in an order made this week, said: "It is ordered that the permit dated January 31, 2019, to subdivide stand 282 Chadcombe Township is hereby declared null and void.
"The first respondent (Musarurwa estate) signs all documents and takes all necessary steps to pass transfer of the property to the applicant within seven days of granting of this order."
Musarurwa was one of dozens of people who took money from Hamilton but failed to pay back. Many have gone to court accusing Buyanga of loan sharking and making them sign unfair contracts.
Hamilton's court victory leaves dozens of people who took the same stance as Musarurwa at risk of losing their properties.
Source - zimlive
