Simple Real Estate Purchase Agreement Between Family Members Template for South Africa

The Simple Real Estate Purchase Agreement Between Family Members is specifically designed for use in South African property transactions where the buyer and seller are related family members. This document becomes necessary when family members wish to formalize the sale of property while maintaining compliance with South African property law, particularly the Alienation of Land Act 68 of 1981. It includes essential provisions for property description, purchase price, payment terms, and transfer procedures, while also accommodating special considerations that may arise in family transactions. The agreement is particularly useful for straightforward property transfers where parties wish to maintain familial goodwill while ensuring legal protection. It can be customized to include special provisions for family-specific arrangements while maintaining the legal requirements for property transfer in South Africa.

1. Parties: Identification of the seller and purchaser, including their full legal names, ID numbers, and family relationship

2. Background: Brief context of the family property sale and acknowledgment of the family relationship

3. Definitions: Key terms used in the agreement, including property description, purchase price, and other relevant terms

4. Property Description: Detailed legal description of the property, including erf number, title deed number, and physical address

5. Purchase Price: Agreed purchase price and payment terms, including any family-specific arrangements

6. Payment Terms: Details of how and when payment will be made, including any special family arrangements or installment plans

7. Transfer and Registration: Process and timing for property transfer and registration at the Deeds Office

8. Possession and Occupation: Date of occupation and conditions for taking possession of the property

9. Warranties: Basic warranties about the property's condition and seller's right to sell

10. Property Condition: Current state of the property and any known defects

11. Costs and Fees: Allocation of transfer costs, legal fees, and other expenses

12. Governing Law: Confirmation that South African law governs the agreement

13. Dispute Resolution: Process for resolving any disputes, considering the family relationship

14. Signatures: Space for parties to sign, including witnesses