Wicknell Chivayo Reportedly Died Before Settling US$1.1 Million Balance On Augustine Chihuri Mansion
Late businessman Wicknell Chivayo had reportedly not completed payment for a multimillion-dollar mansion he bought from former police commissioner Augustine Chihuri before his death.
According to The NewsHawks, Chivayo paid US$1.4 million towards the property in May 2024, leaving an alleged US$1.1 million balance on the mansion, which was valued at US$2.5 million at the time.
Chivayo’s Outstanding Balance
A source familiar with the transaction revealed that the outstanding amount was not expected to be settled entirely in cash.
Instead, the US$1.1 million balance was reportedly linked to services Chivayo was expected to provide to Chihuri, with sources describing them as “political services”.
The arrangement has reportedly created uncertainty over the final settlement of the transaction following Chivayo’s death in a helicopter crash near Marondera last week.
“The fact and truth of the matter is that Chivayo had not fully paid for the property at the time of his tragic death last week,” the source said.
The source added that determining the monetary value of the services was difficult because they had not been clearly quantified.
Mansion Valuation Raises Questions
The property transaction also reportedly involved a significant difference between the sale price and the value placed on the mansion by the state.
While Chihuri reportedly sold the property for US$2.5 million, sources said the Zimbabwean authorities valued it at approximately US$7 million.
The reported US$4.5 million difference has raised further questions over the status of the property and the implications of Chivayo’s death for the transaction.
What Happens To The Property?
The NewsHawks reported that Chihuri still holds the keys to the mansion, despite the property having been sold to Chivayo.
Under Zimbabwean property law, signing an agreement of sale and taking occupation does not, by itself, complete the transfer of legal ownership. The conveyancing process and registration of a new title deed at the Deeds Registry are required for ownership to be formally transferred.
The process can also involve a Deeds Registry search, rates clearance, settlement of applicable taxes, transfer fees and stamp duty before registration is completed.
The reported outstanding payment could therefore complicate the finalisation of the transaction, particularly given that the buyer has since died.
The post Wicknell Chivayo Reportedly Died Before Settling US$1.1 Million Balance On Augustine Chihuri Mansion appeared first on iHarare News.
