Document background
The Agreement For Sale Of Immovable Property is a fundamental legal document used in South African property transactions. It is required whenever immovable property is bought or sold, whether residential, commercial, or industrial. The agreement must comply with the Alienation of Land Act 68 of 1981, which requires all property sales to be in writing and signed by both parties. This document captures all essential aspects of the property transaction, including detailed property description, purchase price, payment terms, transfer arrangements, and conditions of sale. It serves as the binding contract between seller and purchaser, protecting both parties' interests and ensuring legal compliance with South African property law, transfer duty requirements, and relevant consumer protection legislation. The agreement is typically prepared with input from legal professionals and may require customization based on the specific nature of the property and any special conditions agreed between the parties.
