Former Kiambu Governor Ferdinand Waititu has lost his Nairobi property valued at Ksh.52 million after failing to live up to purchase agreement.
In a report by Business Daily, the ousted Governor had only managed a10 percent deposit of the total amount.
The property owners sued the former governor and asked the court to allow them to forfeit the Ksh52 million deposit. They argued that Waititu breached the contract and sale agreement.
“The accused entered into a sale agreement without sufficient funds to complete the transaction. His lawyers ought to advise him on how to execute it and advise him on how he should have paid the balance within 90 days,” they said in an affidavit.
The property owners further informed the court that the sale agreement was approved by Waititu’s lawyers.
“His company proceeded to execute the sale agreement and paid the deposit without first securing bank financing. It is the duty of every advocate for the purchaser to advise his client to source for funds first before committing himself to an agreement,” their affidavit stated.
According to Waititu, corruption cases against him had prevented lenders from facilitating his purchase of the property.
The Ethics and Anti-Corruption Commission (EACC) had flagged one of the companies associated with the politician, which he is said to have used in embezzling funds from Kiambu County.
Justice Jacqueline Mogeni ruled in favour of the property owners, stating that they were justified to forfeit the Ksh52 million deposit and cancel the sale agreement.
She also noted that Waititu had breached the contract as argued by the developers.
“A person who lodges caution over any property is one who claims right whether contractual or otherwise. Waititu’s firm has not raised any objection on why the caveat should not be removed.
“The court finds that there is no basis for continuing to have the caveat lodged against the said title,” Justice Mogeni ruled.
The judge has directed Land Registrar to lift any restrictions Waititu’s company had placed over the Ksh52 million property paving way for new bidders.