Expropriation without compensation
Category Property News
In the 2020 State of the Nations, the President said that the goverment is ready to legalize expropriation without compensation.
This leaves many South Africans concerned, one of the key concerns among South africans is that the banks will still hold the exproriated owners responsible for the outstanding mortage balance. If there is 0% compensation given to the owners then it will be impossible for the exproriated owners to settle the outstanding balances, therefore the banks are going to loose money.
It is clear that the goverment intent for this to happen, but it is also very important that the legislators have to think it through very carefully and think of how this will impact South Africa as a country.
Author: Sammy Doyle
