The Acknowledgement Receipt For Payment Of Land is a crucial document in South African property transactions that provides formal proof of payment received for land purchase. It is typically used during property transfers to document and confirm the receipt of funds, whether as full payment or installment, and forms part of the broader property transfer documentation. The document must comply with South African legislation, including the Deeds Registries Act 47 of 1937 and the Alienation of Land Act 68 of 1981. It serves multiple purposes: legal evidence of payment, supporting documentation for property registration, and proof for tax and financial compliance. The receipt is particularly important in protecting both buyers' and sellers' interests by providing clear documentation of the financial transaction related to land transfer.
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1. Receipt Details: Date of receipt, receipt number, and reference to land sale agreement
2. Parties Information: Full details of the person/entity making payment (purchaser) and receiving payment (seller), including registration/ID numbers
3. Property Description: Legal description of the property including erf number, physical address, and title deed details
4. Payment Details: Amount received, payment method, date of payment, and currency
5. Transaction Reference: Reference to the main sale agreement and any relevant transaction numbers
6. Confirmation Statement: Clear statement confirming receipt of payment and whether this represents full or partial payment
7. Legal Declaration: Statement confirming the receipt is true and correct, and constitutes proof of payment
1. Payment Schedule Reference: Include when payment is part of an installment plan or structured payment arrangement
2. VAT Details: Required when the transaction is subject to VAT, including VAT registration numbers and amounts
3. Agent Authorization: Include when payment is received by an authorized agent on behalf of the seller
4. Electronic Payment Verification: Include for electronic transfers, showing banking details and transaction references
5. Outstanding Balance: Include when the payment is partial and there is a remaining balance
1. Proof of Payment: Copies of bank statements, transfer confirmations, or other payment evidence
2. Property Details Extract: Copy of relevant details from title deed or property registration documents
3. Payment History: If this is not the first payment, a schedule showing previous payments made
4. Authorization Documents: If payment received by agent, copies of authorization letters or power of attorney
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Construction
Agriculture
Mining
Commercial Property
Residential Property
Banking and Finance
Legal Services
Government and Public Sector
Industrial Development
Relevant Teams
Legal
Finance
Real Estate
Property Management
Accounts Receivable
Compliance
Land Administration
Corporate Secretarial
Treasury
Document Management
Relevant Roles
Property Lawyer
Conveyancer
Real Estate Agent
Property Manager
Financial Manager
Accounts Receivable Clerk
Legal Administrator
Compliance Officer
Property Development Manager
Land Administration Officer
Transaction Coordinator
Real Estate Transaction Manager
Chief Financial Officer
Company Secretary
Legal Counsel
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