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Real Estate Transfer Agreement

Real Estate Transfer Agreement Template for South Africa

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Key Requirements PROMPT example:

Real Estate Transfer Agreement

"I need a Real Estate Transfer Agreement for the sale of a commercial property in Cape Town, South Africa, that includes specific provisions for existing tenant leases and requires completion of transfer by March 2025."

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Document background
The Real Estate Transfer Agreement is a fundamental legal document used in South African property transactions to formalize and execute the transfer of immovable property ownership. This document is essential whenever real estate 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, the Deeds Registries Act 47 of 1937, and other relevant legislation. The agreement captures all crucial aspects of the property transfer, including detailed property description, purchase price, payment terms, transfer conditions, and various warranties. It serves as the primary document for conveyancing attorneys to process the transfer and forms the basis for registration at the Deeds Office. The document also addresses key requirements such as FICA compliance, transfer duty payments, and municipal clearance certificates.
Suggested Sections

1. Parties: Identification and details of the Seller and Purchaser, including their full legal names, identity/registration numbers, and addresses

2. Background: Context of the transaction, including brief property description and parties' intention to enter into a property transfer agreement

3. Definitions and Interpretation: Definitions of key terms used in the agreement and rules for interpreting the agreement

4. Property Description: Detailed description of the property including erf number, physical address, size, and registration division

5. Purchase Price: Agreement on purchase price, payment terms, deposit requirements, and guarantee provisions

6. Transfer and Registration: Process and timing of property transfer, appointment of conveyancer, and registration requirements

7. Transfer Costs and Charges: Allocation of transfer costs, duties, and legal fees between parties

8. Risk and Possession: Transfer of risk and possession date, conditions for occupation

9. Seller's Warranties: Warranties regarding property title, defects, rates and taxes, and compliance certificates

10. Purchaser's Warranties: Warranties regarding financial capacity and FICA compliance

11. Estate Agent Commission: Details of estate agent commission and payment responsibility

12. Breach and Termination: Consequences of breach and termination provisions

13. Notices and Domicilia: Communication requirements and chosen legal addresses

14. General Terms: Standard legal provisions including whole agreement, variation, and governing law

Optional Sections

1. Mortgage Bond: Include when purchaser requires mortgage financing, detailing loan requirements and suspensive conditions

2. Existing Tenants: Include when property is subject to existing lease agreements, detailing tenant rights and obligations

3. Special Conditions: Include for any unique requirements or conditions specific to the transaction

4. Property Practitioners: Include when multiple estate agents are involved, detailing commission sharing arrangements

5. Movable Property: Include when sale includes specific movable items with the property

6. Building Plans and Certificates: Include when property includes unauthorized structures or requires specific compliance certificates

7. Development Rights: Include when property has unused development rights or zoning considerations

8. FICA Requirements: Include detailed FICA compliance requirements when dealing with high-value transactions

Suggested Schedules

1. Schedule A - Property Description: Detailed property specifications, including diagram deed and title deed details

2. Schedule B - Fixtures and Fittings: Comprehensive list of fixtures and fittings included/excluded in the sale

3. Schedule C - Defects List: Documented list of known defects as disclosed by the seller

4. Schedule D - Compliance Certificates: List of required compliance certificates and their status

5. Appendix 1 - Property Plans: Approved building plans and property diagrams

6. Appendix 2 - Proof of Payment: Deposit payment confirmation and guarantee requirements

7. Appendix 3 - FICA Documents: Copies of required FICA documentation for both parties

8. Appendix 4 - Existing Lease Agreements: Copies of current lease agreements if property is tenanted

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions












































Clauses





































Relevant Industries

Real Estate

Property Development

Construction

Banking and Finance

Legal Services

Property Investment

Property Management

Urban Development

Residential Property

Commercial Property

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Acquisitions

Property Development

Finance

Risk Management

Operations

Investment

Relevant Roles

Property Lawyer

Conveyancing Attorney

Real Estate Agent

Property Practitioner

Property Developer

Legal Counsel

Compliance Officer

Property Manager

Real Estate Investment Manager

Transaction Manager

Property Portfolio Manager

Bond Originator

Property Valuer

Real Estate Director

Chief Legal Officer

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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