Property owner? Better sit down; you're now liable for 30 years’ municipal debt!

New property owners can now be held liable for municipal debts dating back three decades. Fair Credit's Stephen Logan explains...

A Supreme Court of Appeal (SCA) judgement handed down at the end of last month has ruled that new property owners can be held liable for municipal historic debts dating back three decades.

The Money Show’s Bruce Whitfield interviewed Stephen Logan, founder of Fair Credit.

Scroll down for quotes from the audio below.

I was stunned to hear of this. It flies in the face of established law and I don’t understand it.

Stephen Logan, founder of Fair Credit

Tax clearance certificates are issued by the municipality. And that is meant to be the end of the story!

Stephen Logan, founder of Fair Credit

I’m flabbergasted!

Stephen Logan, founder of Fair Credit

This doesn’t make sense! It’s got to be taken on appeal at the Constitutional Court.

Stephen Logan, founder of Fair Credit

It’s a potentially disastrous situation.

Stephen Logan, founder of Fair Credit

This is definitely not the end of the story!

Stephen Logan, founder of Fair Credit

This article first appeared on 702 : Property owner? Better sit down; you're now liable for 30 years’ municipal debt!