Internationally revered motivational speaker Vusi Thembekwayo and his estranged wife, Palesa Mahlolo, are at each other’s throats over the sale of their R4-million vacant land in the ritzy estate of Steyn City, north of Joburg.
Thembekwayo dragged Mahlolo to the Joburg High Court after she allegedly refused to sign an offer to sell the property to a potential client who wanted to buy it for R3.6-million.
The property, which they bought in January 2017 for investment purpose when they were still enjoying marital bliss, is on the brink of being repossessed by FNB after the financially embattled businessman struggled to keep up with instalments.
Thembekwayo and Mahlolo, who tied the knot in community of property in April 2020, are in the process of divorce after she accused him of beating her up at their marital home in Fourways a few years ago.
He denied assaulting her and said she was a substance abuser.
In court papers, which we have seen, Thembkwayo said he and Mahlolo bought the vacant land as an investment and FNB was the bondholder.
Despite their best intention, he said, the property was not developed. He said an estate agent enquired about the property in May 2020 when their union was disintegrating.
“However, Palesa paid no regard to my overtures to have the property sold. From as early as 2021, I made at least three attempts to restructure the loan with the first respondent. The impact of Covid on my finances, as well as having to support two households took a toll on my income,” read the papers.
He said Mahlolo was aware of his financial doldrums and she did not come to the party to give consent to restructure the loan. He said this culminated in FNB instituting legal proceedings against them to attach and sell the property in October last year.
He said on November 4, Mahlolo emailed him, asking him why the property was on sale and if this was because of non-payment.
“I spoke to Palesa and we agreed that the property would be put up for sale. This agreement was because I persuaded her that if the second respondent executed on the property, we would lose all profits.
“The estate agent tried speaking to Palesa to no avail. At each turn I have followed up with Palesa, mostly telephonically, who has promised to get in touch or sign, but she has never taken such a step.”
He said due to Mahlolo’s delay in signing the sale agreement, the offer lapsed.
“However, I have not given up in pursuing the sale as it would be to the benefit of the joint household as the estate agent said she would redraw the agreement if Mahlolo signed the offer to purchase0”.
He said on January 9, he received a letter from FNB advising him that it has taken legal action him and Mahlolo for the outstanding arrears and is in the process of declaring the property executable.
He said because they got the offer of R3.6-million while the bank wishes to recover about R1.3-million from them, they will make a profit from the sale
“It is therefore clear that the profit on this would be, prior to any commission fees, approximately and at the minimum R1.285-million. The money would go a long way to alleviating any strain we feel owing to Palesa declaring that she does not work and needs constant funds,” read the papers.
Thembekwayo did not respond to written questions and repeated attempts to reach him on his cellphone proved fruitless.
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