Document background
The Memorandum of Contract of Sale is a crucial document in South African property law, used to formalize and record property sale transactions. This document is required whenever immovable property is bought or sold in South Africa, whether for residential, commercial, or industrial purposes. It must comply with the Alienation of Land Act 68 of 1981 and other relevant property legislation. The memorandum includes essential information such as party details, property description, purchase price, payment terms, transfer arrangements, and various conditions of sale. It serves as the primary reference document for conveyancers handling the property transfer and forms the basis for the subsequent registration of the property in the Deeds Office. The document is particularly important as it must be in writing and signed by all parties to be legally valid in South Africa.
