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Deed Of Sale Of Inherited Property
"I need a Deed of Sale of Inherited Property for a residential property in Cape Town that I inherited from my late father, which I'm selling to a private buyer for R2.5 million with transfer scheduled for March 2025; the sale involves an estate agent and there's an existing tenant in place."
1. Parties: Identification of the seller (including capacity as heir/beneficiary) and purchaser, including full legal names, identity numbers, and addresses
2. Background: Details of the deceased estate, inheritance status, and confirmation of the seller's legal right to dispose of the property
3. Definitions: Definitions of key terms used in the agreement, including specific inheritance-related terminology
4. Property Description: Detailed description of the property including erf number, physical address, size, and current title deed number
5. Purchase Price: The agreed purchase price, payment terms, and deposit requirements
6. Payment Terms: Detailed breakdown of payment structure, timing, and method of payment
7. Transfer and Registration: Process and requirements for property transfer, including appointment of conveyancer and timeline
8. Estate Clearance: Confirmation of estate administrator approval and clearance certificate requirements
9. Possession and Occupation: Date of occupation, occupational rent if applicable, and condition of property
10. Warranties: Seller's warranties regarding property ownership, inheritance status, and authority to sell
11. Risk and Benefit: Transfer of risk and benefit of the property
12. Costs and Taxes: Allocation of transfer costs, taxes, and duties
13. Breach: Consequences and remedies in case of breach by either party
14. Notices: Communication requirements and contact details for formal notices
15. General Terms: Standard contractual provisions including entire agreement, variation, and governing law
1. Estate Agent Commission: Include when an estate agent is involved in the transaction, detailing commission structure and payment terms
2. Special Conditions: Include when there are specific requirements from the deceased's will affecting the sale
3. Statutory Compliance: Include when property requires specific compliance certificates or permits
4. Tenant Rights: Include when the property is currently leased to tenants
5. Bond Cancellation: Include when there is an existing bond over the property that needs to be cancelled
6. Co-heir Agreement: Include when multiple heirs are involved in the sale
7. Master's Consent: Include when Master of High Court's specific consent is required for the sale
1. Property Details Schedule: Detailed description of the property including improvements and fixtures
2. Death Certificate: Certified copy of the deceased's death certificate
3. Letters of Executorship: Copy of Letters of Executorship/Authority from Master of High Court
4. Estate Documentation: Relevant estate documentation proving inheritance of the property
5. Title Deed: Copy of the current title deed
6. Property Plans: Approved building plans and property diagrams
7. Clearance Certificates: Municipal rates and taxes clearance certificates
8. Compliance Certificates: Electrical, gas, electric fence, and beetle certificates as applicable
Authors
Real Estate
Legal Services
Financial Services
Property Development
Estate Administration
Conveyancing
Property Management
Banking
Insurance
Public Sector
Legal
Real Estate
Property Transfer
Conveyancing
Estate Administration
Compliance
Property Management
Document Processing
Client Relations
Risk Management
Conveyancing Attorney
Estate Administrator
Property Lawyer
Real Estate Agent
Estate Agent
Property Transfer Secretary
Legal Director
Property Manager
Estate Planning Advisor
Compliance Officer
Real Estate Broker
Title Deed Officer
Property Transfer Specialist
Estate Executor
Legal Consultant
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