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Simple Real Estate Purchase Agreement Between Family Members Template for South Africa

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Key Requirements PROMPT example:

Simple Real Estate Purchase Agreement Between Family Members

"I need a Simple Real Estate Purchase Agreement Between Family Members for selling my house to my sister in Cape Town, with a purchase price of R2.5 million to be paid in installments starting March 2025, and I want to ensure all necessary compliance certificates are included."

Document background
The Simple Real Estate Purchase Agreement Between Family Members is specifically designed for use in South African property transactions where the buyer and seller are related family members. This document becomes necessary when family members wish to formalize the sale of property while maintaining compliance with South African property law, particularly the Alienation of Land Act 68 of 1981. It includes essential provisions for property description, purchase price, payment terms, and transfer procedures, while also accommodating special considerations that may arise in family transactions. The agreement is particularly useful for straightforward property transfers where parties wish to maintain familial goodwill while ensuring legal protection. It can be customized to include special provisions for family-specific arrangements while maintaining the legal requirements for property transfer in South Africa.
Suggested Sections

1. Parties: Identification of the seller and purchaser, including their full legal names, ID numbers, and family relationship

2. Background: Brief context of the family property sale and acknowledgment of the family relationship

3. Definitions: Key terms used in the agreement, including property description, purchase price, and other relevant terms

4. Property Description: Detailed legal description of the property, including erf number, title deed number, and physical address

5. Purchase Price: Agreed purchase price and payment terms, including any family-specific arrangements

6. Payment Terms: Details of how and when payment will be made, including any special family arrangements or installment plans

7. Transfer and Registration: Process and timing for property transfer and registration at the Deeds Office

8. Possession and Occupation: Date of occupation and conditions for taking possession of the property

9. Warranties: Basic warranties about the property's condition and seller's right to sell

10. Property Condition: Current state of the property and any known defects

11. Costs and Fees: Allocation of transfer costs, legal fees, and other expenses

12. Governing Law: Confirmation that South African law governs the agreement

13. Dispute Resolution: Process for resolving any disputes, considering the family relationship

14. Signatures: Space for parties to sign, including witnesses

Optional Sections

1. Spousal Consent: Required if either party is married in community of property

2. Mortgage Bond Arrangements: Include if the purchaser requires mortgage financing

3. Special Family Conditions: Any unique arrangements due to the family relationship, such as rights of first refusal for future sale

4. Existing Tenants: Include if the property has current tenants and how their tenancy will be handled

5. Fixtures and Fittings: Detailed list of items included/excluded in the sale if needed

6. Family Trust Provisions: Required if either party is acting as a trustee of a family trust

7. Right of Residence: Include if selling family member retains any right to reside in the property

Suggested Schedules

1. Schedule A - Property Details: Comprehensive property description, including boundary details and title deed information

2. Schedule B - Fixture and Fittings List: Detailed inventory of items included in or excluded from the sale

3. Schedule C - Payment Schedule: If applicable, detailed payment plan including installment amounts and dates

4. Schedule D - Property Condition Report: Detailed report on the current condition of the property and any defects

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

6. Appendix 2 - Title Deed Copy: Copy of the current title deed

7. Appendix 3 - Compliance Certificates: Copies of electrical, gas, electric fence, and beetle certificates as applicable

Authors

Alex Denne

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

Relevant legal definitions


































Clauses






























Relevant Industries

Real Estate

Legal Services

Banking and Finance

Property Development

Conveyancing

Residential Property

Family Law

Property Management

Relevant Teams

Legal

Conveyancing

Property Transfer

Real Estate

Residential Property

Family Law

Compliance

Property Documentation

Deed Registration

Contract Administration

Relevant Roles

Real Estate Attorney

Conveyancing Lawyer

Property Transfer Secretary

Real Estate Agent

Property Law Consultant

Family Law Attorney

Legal Advisor

Bank Manager

Mortgage Specialist

Property Transfer Administrator

Compliance Officer

Title Deed Officer

Property Law Partner

Deeds Office Examiner

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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