A person younger than 18 years old is considered a minor.
It is possible for a minor to purchase, sell and/or register a mortgage bond over an immovable property. In doing so, the following applies:
a. When a minor purchases an immovable property: • For children younger than 7 years – the child’s guardians (usually both natural parents of the child) need to sign all documents on behalf of the child; and, • For children 7 years or older but under 18 years – the child may sign all the documents but the child’s guardians (usually both natural parents of the child) need to provide assistance by also signing all the documents.
b. When a minor sells or registers a mortgage bond over an immovable property: • The same rules for signing of documents apply as when the minor purchases a property (see above); • If the value of the immovable property or mortgage bond to be registered is R250,000 or less – The Master of the High Court must approve the act; and, • If the value of the immovable property or mortgage bond to be registered is greater than R250,000 – a Court Order by the High Court of South Africa is required to approve the act.
The opionions expressed herein are based on current South African law.
From the pen of Esti Lombard 1 April 2020
