Common use of TRANSFER AND COSTS Clause in Contracts

TRANSFER AND COSTS. 12.1 The Purchaser acknowledges that it will only be possible for the Seller to give transfer of the Unit to the Purchaser after a development Scheme as defined in the Sectional Titles Act has been approved and a sectional title register in respect of the Scheme has been opened. 12.2 It is the Seller’s intention that transfer of the Unit shall be effected by the Conveyancing Attorney simultaneously with the opening of the sectional title register. 12.3 The Seller agrees to take such steps as may be necessary to apply for, and shall endeavour to obtain the approval of the development Scheme and the opening of the sectional title register and take all steps necessary to effect transfer of the Unit to the Purchaser in the manner provided in the Act. 12.4 The Seller undertakes to pay the expenses incurred in the opening of a sectional title register as provided in terms of the Sectional Titles Act. 12.5 Transfer shall be effected as soon as the Seller is entitled to pass transfer in terms of the Sectional Title Act and after the Purchaser has paid all amounts for which the Purchaser is liable in terms of this Agreement and has otherwise complied with the provisions hereof. 12.6 Transfer fees and VAT thereon, Deeds Office registration fees, disbursements and VAT in respect of the transfer will be for the account of the Seller. 12.7 Bond registration fees and VAT thereon will be for the account of the Purchaser. Costs of granting credit will be for the account of the Purchaser. Xxxxx Lovell’s Attorneys have been appointed to attend to the registration of the bonds in the development as per the Seller’s residential development end user finance agreements with the relevant banks and the Purchaser must ensure that this requirement is adhered to when applying for finance. 12.8 The payment of the Transfer fees by the Seller is only available if the bond is taken up and Xxxxx Lovells Attorneys are instructed to register the bond. Should any other firm of attorneys other than Xxxxx Lovells Attorneys be instructed to attend to the registration of the bond, then the transfer fees and the bond registration fees will be for the account of the Purchaser. If any such bond instructed to any other firm is moved to and registered by Xxxxx Lovells Attorneys, then the Transfer fees will again be paid by the Seller. 12.9 Save as may be otherwise provided to the contrary in terms of this agreement, the Sectional Titles Act and the Alienation Act as amended from time to time shall in all respects govern the relationship between the Seller and the Purchaser.

TRANSFER AND COSTS. 12.1 The Purchaser acknowledges that it will only 17.1 Transfer shall not be possible for the Seller to give transfer of the Unit passed to the Purchaser after a development Scheme until such time as defined the total purchase price and all other amounts for which the Purchaser may be liable for in terms hereof up and until the Sectional Titles Act transfer date have been paid, and/or payment thereof has been approved and a sectional title register in respect secured as herein provided, to the satisfaction of the Scheme Seller and the Purchaser has been openedcomplied with all other obligations in terms of this Agreement. 12.2 It is the Seller’s intention that transfer 17.2 Transfer of the Unit shall be effected by the Conveyancing Attorney simultaneously with Transferring Attorneys and shall be given and taken as soon as possible and the opening issuing of the sectional title registerSPLUMA Certificate described in clause 19.5 below. 12.3 The Seller agrees 17.3 Within 5 (five) working days of being requested to take do so by the Transferring Attorneys, the Purchaser shall sign all such steps documents and furnish the Transferring Attorneys with all such documents as may be necessary to apply for, and shall endeavour to obtain or requisite for the approval purposes of the development Scheme and the opening registration of transfer of the sectional title register and take all steps necessary Unit. 17.4 Provided that the financial institution granting the loan (if applicable) instructs the Transferring Attorneys to effect attend to the registration of the mortgage bond in favour of the institution, the Seller shall be liable for the Conveyancing transfer charges incidental to the transfer of the Unit to the Purchaser as well as the fees payable to the Transferring Attorneys in respect of bond registration cost. In the manner provided in case of loans granted by any financial institution other than ABSA, NEDBANK, FIRST NATIONAL BANK or STANDARD BANK OF SOUTH AFRICA, the Act. 12.4 The bond registration costs shall not be borne by the Seller undertakes but the Purchaser shall be liable to pay the expenses incurred bond registration costs to the attorneys appointed by such financial institution. 17.5 Should the proviso in clause 17.4 above not be met, the opening Purchaser shall personally be responsible for payment of a sectional title register as provided all the costs and charges described in clause 17.4 above. 17.6 Notwithstanding clause 17.4 above, the Purchaser shall nevertheless be liable for all water and electricity consumption charges from the Occupation Date, the cost of the levy clearance certificate which may be required in terms of the Sectional Titles Act, the cost of any insurance certificate required by the financial institution granting the loan, the initiation fees charged by the financial institution, any other charges imposed by the financial institution as well as any direct costs and disbursements arising from the grant of the loan and the bond required to be registered as described in clause 11. 12.5 Transfer 17.7 After transfer the Seller shall be effected as soon as the Seller is entitled to pass transfer instruct a private municipal consultant to remove the unit from the Seller’s municipal account in terms respect of assessment rates and refuse removal and to procure that a new municipal account be opened in the name of the Sectional Title Act Purchaser. The Purchaser shall be liable for the costs and after charges of the consultant, which shall not exceed R969,00 inclusive of VAT, which shall be paid by the Purchaser to the Transferring Attorneys on demand prior to Transfer. The Transferring Attorneys shall pay the consultant only upon completion of the process. 17.8 The Purchaser acknowledges and accepts that the Purchaser has paid all amounts for which purchased property in a Development where transfer to the Purchaser will take place simultaneous with transfers to other purchasers in the Development, as a result of which transfer of the Unit to the Purchaser may be delayed. The Purchaser shall, despite a delay in transfer, be obliged to pay the Occupational Interest provided for in clause 4.2 above and clause 18.6 below to the Seller via EFT upon request by the Seller for such payment. 17.9 The Purchaser acknowledges that it has been explained to him and that he understands that if his transaction is liable not capable of being included in the first lodgement batch, registration in the Deeds Registry of this transaction will only be possible approximately 3 (three) calendar months after registration of the first lodgement batch. 17.10 The Purchaser shall not have any claim against the Seller or be relieved of any of the Purchaser's obligations in terms of this Agreement and has otherwise complied with the provisions hereof. 12.6 Transfer fees and VAT thereon, Deeds Office registration fees, disbursements and VAT in respect or be entitled to any remission or rebate of the transfer will be for the account of the Seller. 12.7 Bond registration fees and VAT thereon will be for the account of the Purchaser. Costs of granting credit will be for the account of the Purchaser. Xxxxx Lovell’s Attorneys have been appointed to attend to the registration of the bonds in the development as per the Seller’s residential development end user finance agreements with the relevant banks and any charges payable by the Purchaser must ensure that this requirement is adhered to when applying for finance. 12.8 The payment of the Transfer fees by the Seller is only available if the bond is taken up and Xxxxx Lovells Attorneys are instructed to register the bond. Should any other firm of attorneys other than Xxxxx Lovells Attorneys be instructed to attend to the registration of the bond, then the transfer fees and the bond registration fees will be for the account of the Purchaser. If any such bond instructed to any other firm is moved to and registered by Xxxxx Lovells Attorneys, then the Transfer fees will again be paid by the Seller. 12.9 Save as may be otherwise provided to the contrary in terms of this agreement, Agreement in the event of not unreasonable delay in the opening of the Sectional Titles Act Title Register and transfer of the Alienation Act as amended from time Unit to time shall in all respects govern the relationship between the Seller and the Purchaser. 17.11 Neither the Seller nor the Transferring Attorneys shall be required to off-set any financial obligation/s of the Purchaser against Deposit 1 prior to transfer.

TRANSFER AND COSTS. 12.1 6.1. The Property shall be transferred into the name of the Purchaser by the Conveyancers as soon as reasonably possible after the Purchaser has secured the Purchase Price in full as provided for in clause 5.1 above, subject to compliance with the provisions of clause 6.5 herein. The Purchaser undertakes to furnish all such information, sign all such documents and pay all such amounts as may be necessary or required by the Conveyancers in terms hereof. 6.2. The Seller shall pay all costs of transfer due to the Conveyancers which shall include VAT or Transfer Duty, whichever may be applicable. The Seller shall also pay all costs of bond registration, on condition that the Developer’s nominated Conveyancers also attend to the registration of such bonds and provided further that that such bond registrations are for the four major commercial Banks in South Africa being ABSA, FNB, Standard Bank and Nedbank. Notwithstanding the aforementioned, the Purchaser shall however remain liable to pay all valuation and initiation fees charged by the Financial Institution which may approve a mortgage loan for the Purchaser. 6.3. Prior to date of transfer the Purchaser shall not be entitled to make any alterations or additions to the Property, without the prior written consent of the Seller, which consent shall be at the Seller’s sole and absolute discretion. The Purchaser may also not resell the Property prior to transfer thereof into the Purchaser’s name. 6.4. The Purchaser acknowledges that the South African Revenue Services may insist that the Purchaser’s tax affairs are in order before issuing the tax clearance certificate that is required for purposes of registration of transfer of the Property. The Purchaser warrants that the Purchaser’s tax affairs are, or will, for purposes of the issuing the said tax clearance certificate, be in order. 6.5. The Purchaser acknowledges that it will only be is not possible for the Seller to give pass transfer of the Unit Property to the Purchaser after a development Scheme until such time as defined in the Sectional Titles Act has been approved and a sectional title register in respect of Title Register for the Proposed Development Scheme has been opened. 12.2 It is the Seller’s intention that transfer of the Unit shall be effected by the Conveyancing Attorney simultaneously with the opening of the sectional title register. 12.3 The Seller agrees to take such steps as may be necessary to apply for, and shall endeavour to obtain the approval of the development Scheme and the opening of the sectional title register and take all steps necessary to effect transfer of the Unit to the Purchaser in the manner provided in the Act. 12.4 The Seller undertakes to pay the expenses incurred in the opening of a sectional title register as provided opened in terms of the Sectional Titles Act. 12.5 Transfer shall be effected as soon as the Act 1986. The Seller is entitled undertakes, within a reasonable time and at its expense, to pass transfer in terms of the Sectional Title Act and after the Purchaser has paid take all amounts for which the Purchaser is liable in terms of this Agreement and has otherwise complied with the provisions hereof. 12.6 Transfer fees and VAT thereon, Deeds Office registration fees, disbursements and VAT in respect of the transfer will be for the account of the Seller. 12.7 Bond registration fees and VAT thereon will be for the account of the Purchaser. Costs of granting credit will be for the account of the Purchaser. Xxxxx Lovell’s Attorneys have been appointed to attend to the registration of the bonds in the development as per the Seller’s residential development end user finance agreements with the relevant banks and the Purchaser must ensure that this requirement is adhered to when applying for finance. 12.8 The payment of the Transfer fees by the Seller is only available if the bond is taken up and Xxxxx Lovells Attorneys are instructed to register the bond. Should any other firm of attorneys other than Xxxxx Lovells Attorneys be instructed to attend to the registration of the bond, then the transfer fees and the bond registration fees will be for the account of the Purchaser. If any such bond instructed to any other firm is moved to and registered by Xxxxx Lovells Attorneys, then the Transfer fees will again be paid by the Seller. 12.9 Save steps as may be otherwise provided reasonably required to open the contrary in terms of this agreement, sectional title register for the Sectional Titles Act and the Alienation Act as amended from time to time shall in all respects govern the relationship between the Seller and the PurchaserProposed Development Scheme.

TRANSFER AND COSTS. 12.1 5.1. Being the SELLER’S prerogative to do so, the SELLER hereby appoints Tel: as conveyancers to affect all conveyancing work in connection with the transfer of the PROPERTY to the PURCHASER. The Purchaser acknowledges that it will only PURCHASER shall pay transfer duty, stamp duty and all expenses of transfer, including conveyancer’s charges together with the costs of registration of a bond (if any). 5.2. Transfer of the PROPERTY into the name of the PURCHASER shall be given and taken as soon as possible for after the Seller PURCHASER has fulfilled its obligations under this deed of sale and when requested to do so, but the SELLER is not compelled to, nor does the SELLER guarantee to give transfer of immediately after the Unit PURCHASER has fulfilled all its obligations herein, but shall only be obliged to the Purchaser after give transfer thereof within a development Scheme as defined in the Sectional Titles Act has been approved and a sectional title register in respect of the Scheme has been openedreasonable period. 12.2 It is the Seller’s intention that transfer 5.3. The intentional delay of the Unit shall be effected by the Conveyancing Attorney simultaneously with the opening of the sectional title register. 12.3 The Seller agrees to take such steps as may be necessary to apply for, and shall endeavour to obtain the approval of the development Scheme and the opening of the sectional title register and take all steps necessary to effect transfer of the Unit to the Purchaser in the manner provided in the Act. 12.4 The Seller undertakes to pay the expenses incurred in the opening of a sectional title register as provided in terms of the Sectional Titles Act. 12.5 Transfer shall be effected as soon as the Seller is entitled to pass transfer in terms of the Sectional Title Act and after the Purchaser has paid all amounts for which the Purchaser is liable in terms of this Agreement and has otherwise complied with the provisions hereof. 12.6 Transfer fees and VAT thereon, Deeds Office registration fees, disbursements and VAT in respect of the transfer will be for the account of the Seller. 12.7 Bond registration fees and VAT thereon will be for the account of the Purchaser. Costs of granting credit will be for the account of the Purchaser. Xxxxx Lovell’s Attorneys have been appointed to attend to the registration of the bonds transfer of the PROPERTY by the PURCHASER not fulfilling any required aspects of the deed of sale shall result in a breach of the development deed of sale and subsequent cancellation of the deed of sale. 5.4. The PURCHASER hereby acknowledges that it is fully aware of the legal obligation upon it to pay all transfer duties to the Receiver of Revenue within a period of 6 (six) months as per from date of entering into this deed of sale, failing which there shall be accrual to such transfer duties penalty tax payable by the SellerPURCHASER and it shall be the PURCHASER’s residential development end user finance agreements exclusive obligation to request the SELLER’s attorneys to make due arrangements for the payment thereof to the Receiver of Revenue within such stated period of time or to make his arrangements for the payment thereof. The PURCHASER can at any point in time after entering into this deed of sale request the SELLER’s attorneys to deposit the correct amount of the transfer duties with the relevant banks and Receiver of Revenue provided that the Purchaser must ensure that this requirement is adhered PURCHASER provides the said attorneys with sufficient funds to when applying for financedo so. 12.8 The payment of the Transfer fees by the Seller is only available if the bond is taken up and Xxxxx Lovells Attorneys are instructed to register the bond. Should any other firm of attorneys other than Xxxxx Lovells Attorneys be instructed to attend to the registration of the bond, then the transfer fees and the bond registration fees will be for the account of the Purchaser. If any such bond instructed to any other firm is moved to and registered by Xxxxx Lovells Attorneys, then the Transfer fees will again be paid by the Seller. 12.9 Save as may be otherwise provided to the contrary in terms of this agreement, the Sectional Titles Act and the Alienation Act as amended from time to time shall in all respects govern the relationship between the Seller and the Purchaser.