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Contract To Sell Land
"I need a Contract to Sell Land for a residential property in Cape Town, South Africa, with transfer scheduled for March 2025, including provisions for the existing tenant who will remain in the property for 6 months after the sale."
1. Parties: Full legal names and details of the Seller and Purchaser, including identity/registration numbers and 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, title deed number, and physical address
5. Purchase Price: The agreed purchase price and payment terms, including deposit requirements
6. Payment Terms: Detailed structure of payments, including timing and method of payment
7. Conditions Precedent: Any conditions that must be fulfilled before the agreement becomes fully binding, such as bond approval
8. Transfer and Registration: Process and timing for property transfer, appointment of conveyancer, and registration requirements
9. Possession and Occupation: Date of occupation, occupational rent if applicable, and condition of property upon handover
10. Costs and Taxes: Allocation of transfer costs, legal fees, and tax obligations
11. Risk and Insurance: Transfer of risk and insurance obligations
12. Warranties: Standard warranties by both parties, including seller's warranties about the property condition
13. Breach: Consequences of breach and remedies available to the parties
14. Dispute Resolution: Process for resolving disputes between the parties
15. Notices and Domicilia: Legal addresses for service of notices and communication requirements
16. General Terms: Standard boilerplate clauses including whole agreement, variation, and governing law
1. Agent Commission: Include when a real estate agent is involved in the transaction
2. Existing Tenancies: Required when the property is subject to existing lease agreements
3. Mortgage Bond: Details of existing bonds to be cancelled and new financing when relevant
4. Fixtures and Fittings: Detailed list of items included/excluded from the sale when necessary to specify
5. Statutory Certificates: Requirements for electrical, gas, electric fence, or beetle certificates if applicable
6. Home Owners Association: Include when property is in an estate or complex with an HOA
7. FICA Requirements: Include when specific FICA compliance details need to be outlined
8. Development Rights: Include when there are specific development rights or restrictions to be transferred
1. Schedule A - Property Description: Detailed property description including diagrams and title deed extract
2. Schedule B - Fixtures and Fittings: Comprehensive list of items included in and 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. Schedule E - Payment Schedule: Detailed breakdown of payment terms and installments if applicable
6. Appendix 1 - Property Plans: Approved building plans and property diagrams
7. Appendix 2 - Zoning Certificate: Current zoning certificate and regulations
8. Appendix 3 - HOA Rules: Home Owners Association rules and regulations if applicable
Authors
Real Estate
Property Development
Agriculture
Commercial Property
Residential Property
Banking and Finance
Legal Services
Construction
Urban Development
Industrial Property
Legal
Real Estate
Property Management
Compliance
Finance
Business Development
Operations
Risk Management
Corporate Affairs
Investment
Property Lawyer
Real Estate Agent
Property Developer
Conveyancing Attorney
Legal Counsel
Property Manager
Commercial Director
Land Surveyor
Real Estate Investment Manager
Compliance Officer
Property Portfolio Manager
Business Development Manager
Agricultural Land Manager
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