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CONVEYANCING (PROPERTY TRANSFER)
Buying land in Zimbabwe in installments, Things to know
The sale of land in Zimbabwe is on the increase. Just like there are different types of locations where one can purchase land in Zimbabwe, so too are there different purchasers. There are some purchasers who can pay the entire purchase price on the signing of the sale agreement and similarly there are purchasers who are able to make payments by way of installments
Section 64 of the Deeds Registries Act [Chapter 20:05] regulates the sale of land by instalments in Zimbabwe. Where one intends on buying land which is held under title (with title deeds) it is essential that the parties agree that there be an endorsement on the title deed of the property that the property is being sold by way of instalments. The rationale for this proposal is simple, the mere signing of a sale agreement does not vest ownership to the purchaser until transfer has taken place. Put differently, a section 64 consent is a caveat that is placed on a title deed for the sale of land by instalments which interdicts the disposal of the land to third parties.
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