The Agreement of Purchase and Sale is a fundamental legal document used in South African property transactions to formalize the sale of immovable property. This agreement is essential whenever there is a transfer of property ownership and must comply with the requirements of the Alienation of Land Act 68 of 1981 and other relevant South African legislation. The document captures all material terms of the sale, including property details, purchase price, payment terms, transfer conditions, and the rights and obligations of both parties. It serves as the foundation for the property transfer process and is required by conveyancers, banks, and the Deeds Office to process the transaction. The agreement must be in writing and signed by all parties to be legally valid under South African law.
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1. Parties: Full legal names and details of the Seller and Purchaser, including identity/registration numbers and addresses
2. Background: Context of the sale and brief description of the property being sold
3. Definitions and Interpretation: Definitions of key terms used in the agreement and rules of interpretation
4. Property Description: Detailed description of the property including erf number, physical address, and extent
5. Purchase Price: The agreed purchase price and payment terms, including deposit requirements
6. Payment Terms: Details of how and when payments will be made, including deposit and balance arrangements
7. Transfer and Registration: Process and timing for property transfer, appointment of conveyancer, and registration requirements
8. Possession and Occupation: Date of occupation, occupational rent if applicable, and conditions of possession
9. Voetstoots Clause: Statement regarding the condition of the property and extent of seller's warranties
10. Risk and Insurance: Transfer of risk and responsibility for insurance
11. Rates and Taxes: Responsibility for municipal rates, taxes, and utilities
12. Agent's Commission: Details of estate agent's commission if applicable
13. Breach: Consequences and remedies in case of breach by either party
14. Notices and Domicilia: Legal addresses for service of notices and communication requirements
15. General Terms: Standard contractual provisions including whole agreement, variation, and governing law
16. Signatures: Execution clause and signature blocks for all parties
1. Sectional Title Provisions: Required when the property is a sectional title unit, including body corporate rules and levies
2. Movable Property: Used when the sale includes specific movable items with the property
3. Tenant Provisions: Required when the property is sold with existing tenants
4. Bond Approval: Required when the sale is subject to the purchaser obtaining mortgage finance
5. Sale of Purchaser's Property: Used when the sale is conditional upon the purchaser selling their existing property
6. Development Provisions: Required for properties in development schemes or with pending renovations
7. FICA Requirements: Detailed section on Financial Intelligence Centre Act requirements when applicable
8. Special Conditions: Any unique terms specific to the transaction
1. Schedule A - Property Description: Detailed technical description of the property including boundaries and servitudes
2. Schedule B - List of Movable Items: Comprehensive list of movable items included in the sale
3. Schedule C - Defects List: List of known defects disclosed by the seller
4. Schedule D - Compliance Certificates: List of required compliance certificates and their status
5. Schedule E - Property Plans: Approved building plans and property diagrams
6. Appendix 1 - Proof of Payment: Proof of deposit or payment details
7. Appendix 2 - FICA Documents: Copies of required FICA documentation
8. Appendix 3 - Current Lease Agreements: Copies of existing lease agreements if applicable
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