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THE ALIENATION OF LAND ACT IN SOUTH AFRICA:
The Alienation of Land Act 68 of 1981 in South Africa regulates the sale of land, particularly focusing on instalment sale agreements. Here are some key points:
- Written Agreements: All land sale agreements must be in writing and signed by the parties involved.
- Instalment Sales: The Act is particularly relevant for land sold in instalments, where the purchaser pays the seller in two or more instalments over a period exceeding one year.
- Revocation Rights: The Act provides purchasers with the right to revoke an offer to purchase or terminate a deed of alienation under certain conditions.
OVERVIEW:
The Alienation of Land Act, 68 of 1981 (the “Act”) provides that every alienation of land ie: (agreements of sale, exchange and donation) shall be contained in a deed of alienation, and signed by the parties thereto or by their agents acting on their authority.
What is required is that the whole contract of sale must be reduced to writing.
[What must be included in such a contract?
ESSENTIAL [essentialia] TERMS of a Deed of Alienation: – [the 3 P’s]
- The Identity of the parties
- The amount of the purchase price
- The subject matter of the contract [the property description]
If One of the Essential Terms are left out of the Offer to Purchase, the Contract is Void. [invalid]
MATERIAL TERMS to a Deed of Alienation: [Some other terms included in an Offer to Purchase]
- method of payment of the purchase price,
- the payment of the costs,
- the occupation date,
- the date of transfer and
- the appointed Conveyancer to attend to the Property Transfer
It is important that what was agreed between the parties should be reduced to writing and signed by both parties.
View here: → Alienation of Land Act 1981
INFO added by: Meryl Muller
Real Estate Partners: October 2024