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Candice Swanepoel owns a property located in Overbaakens, Port Elizabeth. In October 2020, She decides to relocate to Cape Town for work. A professional valuer,
Candice Swanepoel owns a property located in Overbaakens, Port Elizabeth. In October 2020, She decides to relocate to Cape Town for work. A professional valuer, determines that Candice's property (Property 1) is valued at R1200000. Candice is unhappy about this, as she knows that the property next door, which is relatively the same size, was valued at R2 000000 when her next door neighbour purchased it in June 2019. Candice subsequently mandated an estate agent, Unathi Mnisi, to find her a two-bedroom property in Cape Town. Unathi introduced Candice to a property (Property 2) located in Cape Town. Upon inspection of Property 2 's deed of transfer, Candice noted that Property 2 was subject to a servitude registered in favour of an adjoining property, namely stand 960. In terms of the servitude the owner of stand 960 has a right of way over stand 962. 1) Discuss the factors that may have contributed to the price difference between property 1 and its neighboring property. (6) 1) Discuss the factors that may have contributed to the price difference between property 1 and its neighboring property. (6) 2) Is Candice legally bound to observe the servitude registered over Property 2? Discuss fully. ( Hint: identify the type of servitude registered over the property). (4)
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