The Deed Of Sale For Lot is a fundamental legal document in South African property transactions, essential for the valid transfer of land ownership. This document is required whenever a plot of land or lot is being sold, whether for residential, commercial, or development purposes. It must comply with the Alienation of Land Act 68 of 1981 and related property legislation, requiring written form and signatures from all parties. The deed captures crucial details including property description, purchase price, payment terms, transfer conditions, and various certificates required by South African law. It serves as the primary agreement between seller and purchaser, forming the basis for the subsequent transfer registration at the Deeds Office.
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1. Parties: Full details of the Seller and Purchaser including legal names, registration/identity numbers, and physical 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. Sale: Core clause confirming the sale and purchase of the property
5. Purchase Price: The agreed purchase price and payment terms, including deposit requirements
6. Transfer and Registration: Terms regarding property transfer, timing, and registration in the Deeds Office
7. Transfer Costs and Other Charges: Allocation of transfer costs, legal fees, and other associated expenses
8. Possession and Occupation: Date of occupation, occupational rent if applicable, and possession terms
9. Risk and Benefit: Transfer of risk and benefit in the property
10. Warranties and Representations: Standard warranties by both parties regarding the property and their capacity to contract
11. Voetstoots Clause: Property sold 'as is' clause and disclosure of defects
12. Compliance Certificates: Requirements for electrical, gas, electric fence, and beetle certificates as applicable
13. General Terms: Standard contractual provisions including breach, notices, and jurisdiction
1. Bond Finance: Include when purchase is subject to the buyer obtaining mortgage finance, specifying conditions and timelines
2. Estate Agency: Include when an estate agent is involved, detailing commission arrangements
3. Development Conditions: Include when the lot is part of a development, specifying relevant conditions and requirements
4. Existing Tenancies: Include when property is subject to existing lease agreements
5. Special Conditions: Include when there are specific conditions precedent or subsequent to the sale
6. Home Owners Association: Include when property is in an estate or development with an HOA
7. FICA Requirements: Include detailed FICA compliance requirements when dealing with estate agents or attorneys
1. Property Description Schedule: Detailed description of the property including erf number, title deed number, extent, and improvements
2. Payment Schedule: Detailed breakdown of payment terms, installments, and due dates
3. Defects List: List of known defects in the property as disclosed by the seller
4. Fixtures and Fittings: List of items included and excluded from the sale
5. Development Rules: If applicable, rules and regulations of the development or estate
6. Property Plans: Approved plans, diagrams, or sketches of the property
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