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ESWATINIBANK TO SELL BACEDE’S LAND FOR E2.5M

28/05/2023 17:21:00 Mhlonishwa Motsa

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SITEKI – While Hosea Member of Parliament (MP) Mduduzi Bacede Mabuza remains in jail, EswatiniBank has obtained an order to auction his land.

Mabuza is currently in jail, facing charges under the Suppression of Terrorism Act, 2008. The land, Portion 151 of Farm No. 180, is situated in the Lubombo Region and measures 1 4199 hectares. It will be sold by auction as per the order of the court on Friday, July 7, 2023. Eswatini Development and Savings Bank was cited as the plaintiff in the matter where Baceth Investment (Pty) Ltd., Fit Rite Investment, Mduduzi Bacede Mabuza, and Bongumenzi Vilakati were listed as defendants. The matter was held at the High Court. “Notice is hereby given that pursuant to a Writ of Execution issued in the above matter, the under-mentioned property will be sold by public auction by the deputy sherriff for the District of Lubombo, outside the Siteki Magistrate Court at 3pm on Friday, July 7, 2023,” reads a Notice of Sale issued by the court.

According to the Notice of Sale, the vacant piece of land is scheduled to be sold to the highest bidder, subject to a reserve price of E2 560 000. Conditions of the sale were made available for inspection on Thursday, May 11, 2023, at the office of the sheriff in the High Court Building in Mbabane. They were also made available on the same day at the Lubombo Regional Administrator’s offices. General auction conditions shall apply during the sale, and if any dispute arises about any bid, the property may again be put up for auction. If the auctioneer makes any mistake in selling, such a mistake shall not be binding on any of the parties. If the auctioneer suspects that a bidder is unable to pay the deposit or the balance of the purchase price, he may refuse to accept the bid of such a bidder, or accept it provisionally until the bidder has satisfied him that he is in a position to pay both such amounts. “On the refusal of a bid under such circumstances, the property may immediately be put on auction again,” partly read the conditions of sale.

The general rules state that on the refusal of a bid under such circumstances, the property may immediately be put on auction again. The purchaser is expected to, as soon as possible after the sale and immediately upon being requested by the auctioneer, signs the conditions of sale. In the event of the purchaser being unable to pay the deposit immediately, the deputy sheriff shall be entitled to forthwith cancel the sale and put the property up for auction once again.

sale may be cancelled

If the purchaser fails to carry out any of the obligations under the conditions of sale, the sale may be cancelled by a judge summarily on the report of the sheriff or deputy sheriff after due notice to the purchaser, and the property may again be put up for sale. The purchaser should have received a notice in writing that such a report will be laid bare before the judge for such purposes, and if he is already in occupation of the property, the sheriff or deputy sheriff may, on seven days’ notice, apply to a judge for an order ejecting him or any person claiming to occupy under him, the land. The purchaser shall be responsible for any loss sustained by reason of his default, which loss may, on the application of any aggrieved creditor whose name appears in the sheriff’s or deputy sheriff’s distribution account, be recovered from him under judgement by the judge pronounced summarily on a written report by the sheriff or deputy sheriff.

“The purchaser shall pay a deposit of ten per cent of the purchase price in cash upon the fall of the hammer immediately upon to so by auctioneer, the balance against transfer to be secured by a bank guarantee, to be approved by the plaintiff’s attorney, to be furnished to the plaintiff’s attorney within 21 days after the date of sale,” further states the conditions of sale.
The property may be taken possession of immediately after payment of all necessary fees stipulated in the conditions of sale, and upon such occupation, the property shall be at the risk and profit of the purchaser. On the day of the auction, the purchaser shall pay auctioneer’s charges and, in addition, transfer dues, costs of transfer and arrear rates, taxes and other charges necessary to effect transfer, upon request by the attorney for the execution creditor. The property may be taken possession of immediately after payment of all necessary fees stipulated in the conditions of sale, and upon such occupation the property shall be at the risk and profit and loss of the purchaser. The purchaser is expected to, as soon as possible after the sale, and immediately on being requested by the auctioneer, sign the conditions of sale.