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.
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1. Parties: Full details of the Seller and Purchaser including legal names, registration/identity numbers, and physical addresses
2. Background: Brief context of the sale transaction and the parties' intention to enter into the agreement
3. Definitions and Interpretation: Definitions of key terms used in the agreement and rules for interpreting the document
4. Property Description: Detailed description of the property being sold, including erf number, physical address, and extent
5. Purchase Price: The agreed purchase price and payment terms, including deposit requirements and payment schedule
6. Transfer and Registration: Terms regarding the transfer of the property, appointment of conveyancer, and registration process
7. Risk and Possession: Date of transfer of risk and possession, and related conditions
8. Warranties and Representations: Standard warranties by both parties regarding their capacity to enter into the agreement and property condition
9. Costs and Transfer Duty: Allocation of transfer costs, duties, and other expenses
10. Breach and Termination: Consequences of breach and termination provisions
11. Notices and Domicilia: Communication methods and chosen addresses for legal notices
12. General Terms: Standard contractual provisions including whole agreement, variation, and governing law
1. Estate Agent Commission: Details of estate agent involvement and commission arrangements - include when an estate agent facilitated the sale
2. Occupational Rent: Terms for occupation before transfer - include when early occupation is contemplated
3. Suspensive Conditions: Conditions such as bond approval or sale of purchaser's property - include when sale is subject to such conditions
4. Special Conditions: Any unique terms specific to this sale - include when there are property-specific requirements
5. Fixtures and Fittings: Detailed list of items included/excluded from sale - include when there's need for clarity on movable items
6. Compliance Certificates: Requirements for electrical, gas, electric fence, etc. certificates - include when applicable to property type
7. FICA Requirements: Specific FICA compliance obligations - include when parties require detailed FICA provisions
1. Schedule A - Property Details: Comprehensive property description including diagrams, zoning details, and title deed restrictions
2. Schedule B - Payment Schedule: Detailed breakdown of payment terms, dates, and amounts
3. Schedule C - Fixture and Fittings List: Itemized list of all fixtures and fittings included or excluded from the sale
4. Schedule D - Special Conditions: Detailed special conditions or requirements specific to the property
5. Appendix 1 - Property Plans: Property plans, diagrams, or drawings if relevant
6. Appendix 2 - Compliance Certificates: Copies of relevant compliance certificates
7. Appendix 3 - FICA Documents: Required FICA documentation for both parties
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