¶¶Òõ¶ÌÊÓƵ

The Sub Sale Agreement is a specialized legal document used in South African property transactions when a purchaser wishes to resell a property before taking transfer from the original seller. This type of agreement is particularly common in property development projects, investment scenarios, or when market conditions favor quick resales. The document must comply with South African property law, including the Alienation of Land Act, Transfer Duty Act, and Deeds Registries Act. It typically includes detailed provisions for the coordination of transfers, payment arrangements, risk allocation, and the respective rights and obligations of all parties involved. The agreement is essential for protecting the interests of all parties in the transaction chain while ensuring smooth property transfer and compliance with local regulations.

1. Parties: Identification of all parties involved: original seller, intermediate purchaser/seller, and final purchaser, including their full details and capacity to contract

2. Background: Context of the transaction, including reference to the original sale agreement and the intention to conduct a sub-sale

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

4. Sale: Core terms of the sub-sale transaction, including confirmation of the sale and purchase

5. Purchase Price: Detailed terms of payment, including amount, payment method, and timing

6. Transfer and Registration: Process and timing of property transfer, including appointment of conveyancers and registration procedures

7. Risk and Possession: Transfer of risk and possession arrangements, including occupation date and responsibilities

8. Warranties and Representations: Warranties by all parties regarding their capacity, property condition, and absence of encumbrances

9. Costs and Taxes: Allocation of transfer costs, duties, and taxes between parties

10. Default and Breach: Consequences of breach and remedies available to parties

11. Notices and Domicilia: Communication protocols and formal addresses for legal notices

12. General Terms: Standard contractual provisions including whole agreement, variation, and governing law