RESTRICTION AGAINST ALIENATION Clause Samples
A Restriction Against Alienation clause prohibits a party from transferring, selling, or otherwise disposing of their interest in a property or contract without the consent of another party, typically the original owner or lender. In practice, this means that a tenant may not sublease a rental property, or a borrower may not transfer their rights in a mortgage, unless they receive explicit approval. The core function of this clause is to maintain control over who holds an interest in the property or agreement, thereby protecting the interests of the party imposing the restriction and preventing unwanted or unauthorized transfers.
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RESTRICTION AGAINST ALIENATION. The Company agrees that without your consent it will not sell or otherwise dispose of or alienate all or substantially all of its assets to a third party or undertake any transaction that results in an entity other than the Company and/or its Affiliates owning all or substantially all the Company’s assets (such third party or other entity being herein referred to as the “Acquiree”) unless the Acquiree provides assurances satisfactory to you that it will be bound by the provisions of Clause 17 above.
RESTRICTION AGAINST ALIENATION. 14.1 The Purchaser be entitled to alienate the Property prior to registration of transfer of the Property into the name of the Purchaser provided that the prospective new purchaser complies with the Seller's requirements for resale of an erf and utilises the Seller's standard approved resale agreement and such resale shall be in terms of the approved resale agreement and no amendments shall be made thereto without the prior consent of the Seller being obtained.
14.2 In the event of the Purchaser alienating his erf at any time during the Development Period then such transfer shall be effected by the Seller's (the Developer's) Attorneys.
14.3 The Property shall not be consolidated with an adjoining erf without the prior written consent of the Seller who, for so long as it is the owner of land in the Development Area, shall have the power to decide whether or not to give consent to an application by an owner for the consolidation of the property with another erf.
14.4 In the event of the Purchaser selling a property as contemplated in this clause and such property being unimproved at the time of the sale, the Purchaser shall pay the Seller and administration fee calculated at the rate of 5% plus VAT of the purchase price which will be received by the Purchaser in respect of the sale of such property.
14.5 Should the Purchaser wish to resell the Property, he may only place advertising boards with the permission of the Seller and/or the Homeowners Association and at such place designated by the aforementioned persons.
14.6 The Purchaser shall advise the Seller of his intention to sell the Property and the asking price in respect thereof.
14.7 The Property shall not be subdivided.
14.8 Should the Purchaser wish to resell his property at any time during the development period and employs the services of an estate agent to sell the property, then in such event the Purchaser agrees to appoint the estate agent nominated by the Developer to handle sales during the development period.
RESTRICTION AGAINST ALIENATION. 11.1 Until the Purchaser has complied with all of its obligations in terms of this Agreement, the Purchaser shall not be entitled to sell the Property to any third party, without the prior written consent of Val de Vie and its successors-in-title and/or the HOA, as the case may be and unless the Purchaser and/or transferee of the Property agrees in writing to observe the terms and conditions of this Agreement and in which event Val de Vie may charge a nominal fee in respect of such resale for perusing documentation and vetting of the purchaser, and any legal fees incurred by Val de Vie in obtaining legal advice in respect of the resale and/or the resale documentation shall be for the account of the Purchaser.
RESTRICTION AGAINST ALIENATION. 11.1 Until the Purchaser has complied with all of its obligations in terms of this Agreement, the Purchaser shall not be entitled to sell the Property to any third party, without the prior written consent of the Seller and its successors-in-title and/or the HOA, as the case may be and unless the Purchaser and/or transferee of the Property agrees in writing to observe the terms and conditions of this Agreement and in which event the Seller may charge a nominal fee in respect of such resale for perusing documentation and vetting of the purchaser, and any legal fees incurred by the Seller in obtaining legal advice in respect of the resale and/or the resale documentation shall be for the account of the Purchaser. INITIAL __
11.2 It is further recorded and agreed that should the Purchaser be a –
11.2.1 company, the alienation by a shareholder of any of his shares in the Purchaser, including his beneficial ownership thereof; or
11.2.2 close corporation, the alienation by a member of any percentage of his member’s interest in the Purchaser; or
11.2.3 trust, the alienation by a beneficiary of any of his beneficial interest in the Purchaser, shall be deemed to be an alienation of the Property for purposes of clause 11.1.
11.3 The Property may not be sold, transferred, leased or otherwise alienated or disposed of to any person other than in accordance with the provisions of the Constitution.
RESTRICTION AGAINST ALIENATION. Neither the Director nor any beneficiary shall have any right to sell, assign, transfer, pledge, hypothecate or otherwise convey or encumber any right to receive any payment hereunder, and all such payments and all rights thereto are expressly declared to be non-assignable and non-transferable.
RESTRICTION AGAINST ALIENATION. 16.1 Until the Purchaser has complied with all of its obligations in terms of this Agreement and the Building Agreement, the Purchaser shall not be entitled to sell the Property to any third party, without the prior written consent of the Seller and its successors-in-title and/or the HOA, as the case may be and unless the Purchaser and/or transferee of the Property agrees in writing to observe the terms and conditions of this Agreement and in which event the Seller may charge a fee in respect of such resale for documentation, vetting of purchaser, obtaining legal advice, administration fee, etc in an amount not exceeding 2% (two percent) of the resale price.
RESTRICTION AGAINST ALIENATION. 8.1 Until the PURCHASER has complied with all of its obligations in terms of this CONTRACT , the PURCHASER shall not be entitled to sell the PROPERTY to any third party, without the prior written consent of the SELLER and its successors-in-title and/or the ASSOCIATION or SUB-HOA, as the case may be and unless the PURCHASER and/or transferee of the PROPERTY agrees in writing to observe the terms and conditions of this CONTRACT and in which event the SELLER or ASSOCIATION or SUB-HOA may charge a fee in respect of such resale for documentation, vetting of purchaser, obtaining legal advice, administration fee, etc.
8.2 It is further recorded and agreed that should the Purchaser be a –
8.2.1 company, the alienation by a shareholder of any of his shares in the Purchaser, including his beneficial ownership thereof; or
8.2.2 close corporation, the alienation by a member of any percentage of his member’s interest in the Purchaser; or
8.2.3 trust, the alienation by a beneficiary of any of his beneficial interest in the Purchaser, shall be deemed to be an alienation of the Property for purposes of clause 8.
8.3 The PROPERTY may not be sold, transferred, leased, or otherwise alienated or disposed of to any person other than in accordance with the provisions of the MEMORANDUM OF INCORPORATION and SUB-HOA MOI and without the written approval of the ASSOCIATION and SUB-HOA.
8.4 All transfers of unimproved PROPERTY or partially improved PROPERTY shall be attended to by the CONVEYANCERS.
RESTRICTION AGAINST ALIENATION. 11.1 Until the Purchaser has complied with all of its obligations in terms of this Agreement, the Purchaser shall not be entitled to sell the Property to any third party, without the prior written consent of Levendal and its successors-in-title and/or the HOA, as the case may be and unless the Purchaser and/or transferee of the Property agrees in writing to observe the terms and conditions of this Agreement and in which event Levendal may charge a nominal fee in respect of such resale for perusing documentation and vetting of the purchaser, and any legal fees incurred by Levendal in obtaining legal advice in respect of the resale and/or the resale documentation shall be for the account of the Purchaser.