The Deed of Sale Contract is a fundamental legal document in South African property transactions, essential for both residential and commercial property transfers. This document serves as the primary agreement between parties when transferring property ownership and must comply with the Alienation of Land Act 68 of 1981 and other relevant South African legislation. It contains crucial information including property details, purchase price, payment terms, transfer conditions, and various warranties and undertakings. The agreement is typically prepared after initial negotiations and becomes binding once signed by all parties, forming the basis for the subsequent transfer registration process at the Deeds Office. Used in both private and commercial property transactions, this contract type is vital for ensuring legal compliance and protecting the interests of all parties involved in the property transfer.
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1. Parties: Full details of the Seller and Purchaser, including legal names, identification/registration numbers, and physical addresses
2. Background: Context of the sale and brief description of the property being sold
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed legal description of the property including erf number, physical address, size, and registration division
5. Purchase Price: The agreed purchase price and payment terms, including deposit requirements and payment schedule
6. Payment Terms: Details of how and when payments will be made, including guarantee requirements and time frames
7. Transfer and Registration: Process and timing of 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 of the property
11. Costs and Fees: Allocation of transfer costs, legal fees, and other associated expenses
12. Breach: Consequences and remedies in case of breach by either party
13. Notices and Domicilia: Official addresses for legal notices and communication between parties
14. General Terms: Standard contract terms including whole agreement clause, variation requirements, and governing law
1. Bond Clause: To be included when the purchase is subject to the buyer obtaining mortgage finance
2. Sale Subject to Prior Property Sale: Used when the purchase is conditional on the buyer selling their existing property
3. Tenant Rights: Required when the property is currently let to tenants
4. Special Conditions: For any unique requirements or conditions specific to the transaction
5. Agent Commission: Include when a real estate agent is involved in the transaction
6. Fixtures and Fittings: Detailed list of items included/excluded from the sale when necessary
7. Building Plans and Compliance: When dealing with properties requiring compliance certificates or having building irregularities
8. FICA Requirements: Specific section dealing with Financial Intelligence Centre Act requirements when relevant
1. Schedule A - Property Details: Comprehensive description of the property including boundary details and title deed information
2. Schedule B - Fixtures and Fittings: Detailed inventory of items included in or excluded from 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. Appendix 1 - Property Plans: Approved building plans and property diagrams
6. Appendix 2 - Title Deed: Copy of the current title deed
7. Appendix 3 - FICA Documents: Copies of required FICA documentation for both parties
8. Appendix 4 - Special Conditions: Detailed description of any special conditions applicable to the sale
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Relevant Industries
Real Estate
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Banking and Finance
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Construction
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Property Investment
Urban Development
Residential Property
Commercial Property
Relevant Teams
Legal
Real Estate
Compliance
Risk Management
Sales
Property Management
Business Development
Finance
Operations
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Relevant Roles
Property Lawyer
Conveyancing Attorney
Real Estate Agent
Property Manager
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Compliance Officer
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