SALE OF IMMOVABLE PROPERTY

The Alienation of Land Act No. 68 of 1981(the Act), provides that an agreement for the sale of immovable property, commonly known as an Offer to Purchase must be in writing and signed by both parties being the Seller(s) and the Purchaser(s).

If the agreement is not in writing or signed by the parties or their duly authorised representatives, such an agreement will be null and void.

Verbal agreements for the sale of immovable property are not valid and will not be enforceable.

There are 3 essential terms that must be included in order for the agreement to be valid and enforceable. These are the description of the parties to the sale agreement, the purchase price, and the description of the property being transferred. There are also additional material terms that must be agreed upon between the parties and included in the agreement.

If you are uncertain whether your sale agreement is valid and binding or if you want your sale agreement to be in writing, contact Rosa Van Niekerk Attorneys on 010 110 9500 and schedule a consultation in order for us to assist you.

Article written by:

Nthabiseng Sefudi

 Attorney

     Rosa van Niekerk Attorneys

       Tel: 010 110 9500

              Email: litigation2@rvnattorneys.com