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3rd Owner Deed Of Sale

3rd Owner Deed Of Sale Template for South Africa

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Key Requirements PROMPT example:

3rd Owner Deed Of Sale

"I need a 3rd Owner Deed of Sale for a residential property in Cape Town, with the sale conditional upon the buyer obtaining mortgage financing by March 2025, and including special provisions for existing tenant rights."

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Document background
The 3rd Owner Deed of Sale is a specialized legal document used in South African property transactions where the seller is the third owner of the property. This document is essential when transferring ownership from a third consecutive owner to a new buyer, requiring specific considerations regarding property history, previous transfers, and accumulated legal obligations. It must comply with South African legislation, including the Alienation of Land Act, Consumer Protection Act, and Deeds Registries Act. The document includes comprehensive details about the property, parties involved, financial terms, transfer conditions, and all necessary legal declarations. It's particularly important for ensuring transparency about the property's ownership history and maintaining proper documentation for future transfers.
Suggested Sections

1. Parties: Full details of the Seller and Purchaser including legal names, identity numbers, marital status, and contact details

2. Background: Context of the sale, including brief history of ownership and reason for sale

3. Definitions and Interpretation: Definitions of key terms used in the agreement and rules for interpreting the document

4. Property Description: Detailed 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: Detailed breakdown of how and when payments must be made, including banking details

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 that the property is sold 'as is' with existing defects, subject to CPA requirements

10. Risk and Benefits: Transfer of risk and benefit of the property from seller to purchaser

11. Warranties and Representations: Warranties given by both parties regarding the property and their capacity to enter into the agreement

12. Costs and Transfer Duties: Allocation of transfer costs, duties, and other associated expenses

13. Breach: Consequences and remedies in case of breach by either party

14. Notices and Domicilia: Official addresses for legal notices and communication

15. General Terms: Standard legal provisions including whole agreement, variation, and governing law

Optional Sections

1. Bond Approval: Required if purchase is subject to the buyer obtaining mortgage finance, including terms and timeframes

2. Sale of Purchaser's Property: Include when the purchase is conditional on the buyer selling their existing property

3. Rental Agreement: Required if there are existing tenants or if seller will rent back the property after transfer

4. Special Conditions: Any unique conditions specific to this sale, such as renovations or repairs to be completed

5. Agent Commission: Include if an estate agent is involved in the transaction

6. Fixtures and Fittings: Detailed list of items included/excluded from the sale if different from standard inclusions

7. FICA Requirements: Specific requirements for Financial Intelligence Centre Act compliance if relevant

8. Electronic Communications: Terms for electronic communications and digital signatures if applicable

Suggested Schedules

1. Schedule A - Property Details: Detailed property description including boundary details, title deed information, and servitudes

2. Schedule B - Fixtures and Fittings: Comprehensive list of all fixtures and fittings included in or excluded from the sale

3. Schedule C - Defects List: List of known defects in the property as 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 - Photos: Photographs of the property and any specific features or defects

7. Appendix 3 - Proof of Payments: Records of deposit and other payments made

8. Appendix 4 - Bank Approval: Copy of bank approval letter if purchase is subject to financing

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions











































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Relevant Industries

Real Estate

Property Development

Banking and Finance

Legal Services

Construction

Property Management

Insurance

Urban Development

Residential Property

Commercial Property

Property Investment

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Conveyancing

Contract Administration

Due Diligence

Risk Management

Property Development

Investment

Operations

Documentation

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Attorney

Property Manager

Real Estate Broker

Legal Counsel

Contract Manager

Property Developer

Real Estate Investment Manager

Compliance Officer

Title Deed Officer

Property Transfer Secretary

Real Estate Transaction Coordinator

Due Diligence Officer

Property Portfolio Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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