Faurie Nell Inc - Attorneys Notaries Conveyancers
Home What We Offer How We Do It Calculators Online Progress Report Knowledge Centre Client Experience Contact Us
 
 

 

What is an Instalment Sale Agreement?

 
Publications
FAQ
Ghost Convey Articles

 

 

 

 

 

 

 

 

 

 

 

 

 

Get Adobe PDF Reader
Get Adobe PDF Reader

   
 

1. Is a sale of land agreement where the purchaser pays the purchase price to the seller

  • in more than two instalments
  • over a period exceeding one year

ii    a)  Governed by Chapter II of the Alienation of Land Act (68 of 1981)
      b)  as well as the National Credit Act 34 of 2005

  • consumer credit legislation

iii   'Land' means any land used or intended to be used mainly for residential purposes

  • excludes agricultural land
  • includes a sectional title unit and in any undivided share in the land

iv   Seller retains ownership of land
v    Contract is recorded against title deed

 

2. "Is a 'contract' as defined in Section 1 the Alienation of Land Act (68 of 1981) deemed to be a  agreement for purposes of the National Credit Act?"


i. When the purchaser/lessee is a juristic person:

 

Click here to read more [PDF]


Back to Top


Legal Disclaimer     |     Sitemap
Copyright © Faurie Nell Inc, All rights reserved