The new law compels commercial banks to sell the property of a defaulter at the highest market value. Before the passing of the law, some auctioned property below 29 percent of its market value.
Valuation will come in handy for you before the State acquires your private property by compulsory acquisition since you will be able to bargain not to be paid less.
There are several cases where fundis work in cahoots with hardware staff or supplies to con you. Knowing how Nairobi is, falsified receipts are not hard to get.
Some unlucky fraudulent brokers who laugh to the bank as prospective investors lose fortunes over omissions and commissions of corn artists are also being frog-marched to court.
In most cases, bogus lawyers have a higher affinity towards active land registries like Nairobi, Thika, Kajiado, Kisumu and Mombasa where property transactions are voluminous.
Arrogant landlords are why Nairobians strive to own homes. People who refuse to be at the mercy of stubborn landlords but cannot afford homes mostly move, hoping they will find a better one.
Section 107 of the Land Act mandates the National Land Commission (NLC) to acquire land compulsorily on behalf of both the national and county governments.
It is wise to start your due diligence by visiting the area where the plot or house you want to buy sits and talk to the neighbours who have lived there longer.
Matrimonial property means the matrimonial home or homes, household goods, effects, and any other property owned by both or either spouse acquired during marriage.
Legally, women should not view real estate as a preserve of men as the Constitution protects the right to private property.
Parliament should enact legislation to regulate the recognition and protection of matrimonial property. It particularly seeks to protect the matrimonial home during and on termination of marriage.
Any person who lodges a caution wrongfully can be sued. Placing a wrongful caution that may lead a registered owner to lose prospective clients would attract high damages and compensation.
According to judicial precedents, courts often order that children born of extra-marital affairs have shares in the estate of their late biological father.
Legally, investments in a real estate company by spouses cannot be shared as any matrimonial property when the marriage ends.
Many middle-class Nairobians travel up-country to buy unregistered land from villagers. The majority of land in rural areas is not registered because the ‘owners’ mainly inherited from forefathers.
In most cases, lawyers are often victims when professional undertakings are not honoured and are forced to make the payments out of their pockets.
The new law requires a bank to sell a property at the highest market value to settle the outstanding balance and the defaulter pockets the proceeds.
Renting a house within its own compound guarantees space complete with its own swimming pool, freedom to rear pets and have a kitchen garden. On the flipside, you will more likely pay more.
Foreign exchange reserves are largely tapped for government payments such as servicing external debts and essential government imports such as medicines.
The total number of cases challenging Ruto's pet project is now seven.
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