Plot-and-Plan: Great Option, Just Beware the Building Deadline

There are many benefits to the “buy and build” option when you decide to buy a house, but they come with some important cautions.
One of them is that buyers who fail to build on their plots by deadline risk penalty levies and/or buy-back (retransfer) clauses. We discuss a recent SCA case illustrating both the risk to buyers of a buy-back clause, and the need for developers to beware of losing their claims through prescription. The Henri van Breda saga is a perfect exam… …read more