Ownership of immovable property is a right that grants the owner complete and absolute control over their property, with certain limitations imposed by common law and legislation.
It is important to distinguish between owning and renting a property. The owner has the freedom to use and enjoy the property as they see fit, within the aforementioned restrictions.
They have the authority to sell, make improvements, or even demolish structures on the property (subject to local regulations).
The owner possesses rights over the land, including vegetation, crops, and permanent fixtures. However, it’s worth noting that in Namibia, mineral rights are owned by the state rather than the property owner.
The property becomes part of the owner’s estate and can be used as collateral for obtaining financing or passed on to heirs. The owner is responsible for maintaining the property and must fulfil obligations such as paying rates and taxes imposed by the local authorities.
On the other hand, a tenant who rents a property does not enjoy the same privileges as the owner. The tenant does not have the right to sell or make unrestricted improvements to the property.
The property does not become part of their estate, and upon lease termination, it must be returned to the landlord. Essentially, the tenant’s rights are limited to occupying and using the property according to the lease agreement.
In cases where a property is mortgaged, the owner is obligated to repay the mortgage by making regular payments to the mortgagee.
These payments are not considered rent, and the relationship between the owner and the mortgagee is distinct from that of a landlord and tenant.
The owner retains all the aforementioned rights and responsibilities, subject to the terms of the mortgage agreement.Owning a property provides a sense of security and belonging to the community.
Additionally, it can be a sound investment, as property values generally tend to keep pace with inflation.
For enquiries Text, Call or email #yourhomegirl Justina Hamupembe
Cell: +264812726001
Email: justina@chili.com.na
