The Estate Sale Contract is a specialized agreement used in South African property transactions where real estate is being sold from a deceased estate. This document is essential when an executor needs to dispose of property belonging to a deceased estate, whether to settle estate debts, distribute assets, or fulfill the deceased's wishes. The contract must comply with the Alienation of Land Act 68 of 1981, the Administration of Estates Act 66 of 1965, and other relevant property legislation. It includes specific provisions addressing executor authority, Master's office requirements, transfer procedures, and estate-specific warranties. The document is designed to protect both the estate's interests and the purchaser's rights while ensuring proper administration of the deceased's property.
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1. Parties: Identification of the seller (executor of the estate), the deceased estate details, and the purchaser
2. Background: Context of the sale, including confirmation of the executor's authority to sell and relevant Master's office details
3. Definitions: Key terms used throughout the agreement, including property-specific and estate-related terminology
4. Sale and Purchase: Core agreement terms including the property description and purchase price
5. Payment Terms: Details of purchase price payment, deposit requirements, and timing of payments
6. Transfer and Registration: Process and timing for property transfer, appointment of conveyancer, and registration requirements
7. Property Condition: Current state of the property, voetstoots clause if applicable, and any known defects
8. Risk and Possession: Transfer of risk and possession details, including occupation date and occupational rent if applicable
9. Executor's Warranties: Specific warranties related to the executor's authority and estate administration status
10. Costs and Taxes: Allocation of transfer costs, duties, and taxes between parties
11. Breach: Consequences of breach by either party and remedies available
12. Notices and Domicilia: Communication requirements and chosen addresses for legal notices
13. General Terms: Standard contract clauses including entire agreement, variation, and governing law
14. Signing Requirements: Execution requirements and space for signatures, including witnesses
1. Bond Cancellation: Include when existing bonds need to be cancelled - details the process and costs
2. Tenant Provisions: Include when the property is currently tenanted - addresses existing lease agreements
3. Master's Consent: Include when specific Master's consent is required for the sale
4. Special Conditions: Include for any estate-specific requirements or unusual circumstances
5. Agent Commission: Include when an estate agent is involved in the sale
6. Fixtures and Fittings: Include when specific items need to be included or excluded from the sale
7. Compliance Certificates: Include when specific certificates are required or responsibilities need to be allocated
8. Beneficiary Consent: Include when beneficiaries' consent to the sale is required
1. Property Description: Detailed legal description of the property including erf number, title deed details, and physical address
2. Inventory: List of movable items included in or excluded from the sale
3. Defects List: Detailed list of known defects in the property
4. Estate Documentation: Copies of death certificate, letters of executorship, and relevant Master's office correspondence
5. Property Plans: Site plans, building plans, and zoning certificates
6. Compliance Certificates: Copies of electrical, gas, electric fence, and beetle certificates as applicable
7. Financial Information: Outstanding rates, taxes, and utility account information
8. Existing Lease Agreements: If applicable, copies of current lease agreements affecting the property
Relevant legal definitions
Agreement
Property
Purchase Price
Deceased Estate
Executor
Letters of Executorship
Master
Transfer Date
Signature Date
Effective Date
Purchaser
Conveyancer
Transfer Costs
Occupation Date
Occupational Rental
Estate Agent
Commission
Deposit
Bond
Transfer Duty
VAT
Rates and Taxes
Municipal Accounts
Compliance Certificates
Defects
Business Day
Parties
Beneficiaries
Due Diligence Period
Title Deed
Improvements
Movable Property
Outstanding Claims
Material Breach
Force Majeure
Suspensive Conditions
Estate Account
Transfer Documents
Clearance Certificates
Domicilium Citandi et Executandi
Property
Purchase Price
Deceased Estate
Executor
Letters of Executorship
Master
Transfer Date
Signature Date
Effective Date
Purchaser
Conveyancer
Transfer Costs
Occupation Date
Occupational Rental
Estate Agent
Commission
Deposit
Bond
Transfer Duty
VAT
Rates and Taxes
Municipal Accounts
Compliance Certificates
Defects
Business Day
Parties
Beneficiaries
Due Diligence Period
Title Deed
Improvements
Movable Property
Outstanding Claims
Material Breach
Force Majeure
Suspensive Conditions
Estate Account
Transfer Documents
Clearance Certificates
Domicilium Citandi et Executandi
Clauses
Identification of Parties
Interpretation
Sale and Purchase
Purchase Price
Payment Terms
Transfer and Registration
Estate Administration
Property Condition
Warranties and Representations
Risk and Insurance
Possession and Occupation
Property Transfer Costs
Rates and Taxes
Estate Agent Commission
Compliance Certificates
Existing Tenancies
Due Diligence
Suspensive Conditions
Master's Consent
Executor Authority
Property Description
Fixtures and Fittings
Voetstoots
Bond Arrangements
Transfer Duty
VAT
Default and Breach
Dispute Resolution
Force Majeure
Notices and Domicilia
Governing Law
Assignment
Entire Agreement
Variation
Severability
Counterparts
Good Faith
Costs
Confidentiality
Survival
Interpretation
Sale and Purchase
Purchase Price
Payment Terms
Transfer and Registration
Estate Administration
Property Condition
Warranties and Representations
Risk and Insurance
Possession and Occupation
Property Transfer Costs
Rates and Taxes
Estate Agent Commission
Compliance Certificates
Existing Tenancies
Due Diligence
Suspensive Conditions
Master's Consent
Executor Authority
Property Description
Fixtures and Fittings
Voetstoots
Bond Arrangements
Transfer Duty
VAT
Default and Breach
Dispute Resolution
Force Majeure
Notices and Domicilia
Governing Law
Assignment
Entire Agreement
Variation
Severability
Counterparts
Good Faith
Costs
Confidentiality
Survival
Relevant Industries
Real Estate
Legal Services
Banking and Finance
Property Development
Estate Administration
Insurance
Property Management
Public Administration
Financial Advisory
Relevant Teams
Legal
Real Estate
Conveyancing
Property Management
Compliance
Estate Administration
Document Processing
Client Relations
Risk Management
Property Transfer
Relevant Roles
Estate Attorney
Conveyancing Lawyer
Estate Administrator
Property Lawyer
Real Estate Agent
Legal Counsel
Compliance Officer
Property Transfer Secretary
Estate Executor
Property Manager
Legal Administrator
Probate Specialist
Real Estate Transaction Coordinator
Title Deed Officer
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