Common use of TRANSFER AND TRANSFER COSTS Clause in Contracts

TRANSFER AND TRANSFER COSTS. 6.1 Transfer of the PROPERTY shall be effected by the SELLER'S conveyancers THEUNISSEN, LOUW & PARTNERS within a reasonable time after the PURCHASER has complied with the terms of clause 4 hereof and made payment to the SELLER'S conveyancers of transfer duty, revenue stamps and all other costs of transfer and matters incidental thereto, for all of which the PURCHASER shall be liable and obliged to make provision on demand. 6.2 The parties hereby undertake to immediately upon written request by the conveyancers, to sign all documents and do all that is necessary, which in the opinion of the conveyancers may be necessary to effect registration of transfer of the property in the name of the PURCHASER and to give effect to the provisions of the agreement. 6.3 The PURCHASER undertakes within 10 (ten) days of request to deliver/furnish to the conveyancers such documents/information as may be required to procure compliance with any of the provisions of this transaction or any applicable legislation. 6.4 The PURCHASER acknowledges that he is aware of the fact that he is liable to pay transfer duty within 6 (six) months from date of acceptance hereof, from which date penalties at a rate of 10% (ten per centrum) per annum on the amount of the transfer duty, will be levied in terms of the Transfer Duty Xxx 0000, Act no. 14 of 1993. In order not to pay any penalties on transfer duty, the PURCHASER is entitled to pay the transfer duty before expiration of the period of 6 (six) months to the Receiver of Revenue, Windhoek, or to the Conveyancers effecting the transfer, and request them to deposit same with the Receiver of Revenue. Although the Conveyancers will endeavour to notify the PURCHASER timeously of such payment, the PURCHASER hereby indemnify them and the SELLER against any claims that might arise there from.

TRANSFER AND TRANSFER COSTS. 6.1 Transfer of 14.1 Provided the PROPERTY shall be effected by the SELLER'S conveyancers THEUNISSEN, LOUW & PARTNERS within a reasonable time after the PURCHASER Purchaser has complied with the terms of all its obligations as set out in clause 4 hereof and made payment to the SELLER'S conveyancers of transfer duty6 this Contract, revenue stamps and all other costs of transfer and matters incidental thereto, for all of which the PURCHASER shall be liable and obliged to make provision on demand. 6.2 The parties hereby undertake to immediately upon written request by the conveyancers, to sign all documents and do all that is necessary, which in the opinion of the conveyancers may be necessary to effect registration of transfer of the property in Property shall be given by the name Seller and taken by the Purchaser on the Transfer Date, or as soon as reasonably possible after the Completion Date. 14.2 In the event that registration of transfer of the PURCHASER and to give effect Property is delayed or frustrated by any act or omission of the Purchaser, the Purchaser shall pay to the provisions Seller interest which shall be equivalent to interest on the Purchase Price at the Prime Overdraft Rate plus 2% (TWO PERCENT) calculated from the date on which the transfer would, but for such delay, otherwise have been registered up to the date of actual registration of transfer. For this purpose, the determination of the agreementConveyancers of the date on which transfer of the Property would, but for the delay, have been registered will be final and binding on the Parties. The Conveyancers will make such determination as an expert not an arbitrator. Any attempt by the Purchaser to delay or frustrate the registration of transfer or, where applicable, a mortgage bond, shall be deemed a breach of this Contract. 6.3 14.3 The PURCHASER undertakes within 10 (ten) days of request to deliver/furnish to Purchaser shall, once the conveyancers such documents/information as may be required to procure compliance with any Principal Agent has issued the Completion Certificate in respect of the provisions Property, not be entitled to delay or refuse to take transfer or to pay the balance of this transaction the Purchase Price in respect of the Property by reason of any alleged defect therein or any applicable legislation. 6.4 The PURCHASER acknowledges that he is aware by reason of the fact that he is liable to pay any part of the Building or Scheme has not yet been fully completed. 14.4 The Purchase Price includes VAT, and there will be no transfer duty within 6 (six) months from date of acceptance hereofpayable by the Purchaser. 14.5 All costs, from which date penalties at professional fees and expenses inherent in transferring the Property to the Purchaser and applying for or registering a rate of 10% (ten per centrum) per annum on mortgage bond will be for the amount account of the transfer duty, will be levied Purchaser in terms full. 14.6 The Seller is responsible for all costs relating to the opening of the Transfer Duty Xxx 0000, Act no. 14 of 1993. In order not sectional title register. 14.7 The Purchaser will sign all documents necessary to pay any penalties on effect transfer duty, the PURCHASER is entitled to pay the transfer duty before expiration of the period of 6 (six) months to Property and return same and all other documents, resolutions, consents, applications and/or certificates as determined by the Receiver of Revenue, Windhoek, or Conveyancers to the Conveyancers effecting within 10 (TEN) days after having been requested to do so. The Parties agree that should the transfer, and request them Purchaser fail to deposit same with deliver any of the Receiver of Revenue. Although aforesaid documents within the Conveyancers will endeavour to notify the PURCHASER timeously of such paymentaforesaid period, the PURCHASER hereby indemnify them and the SELLER against any claims that might arise there fromPurchaser will be in breach of this Contract.

TRANSFER AND TRANSFER COSTS. 6.1 Transfer 4.1 Registration of the PROPERTY transfer shall be effected by the SELLER'S conveyancers THEUNISSENConveyancers. 4.2 All conveyancing fees and disbursements incidental to the preparation and registration of transfer to and bonds by the Purchaser, LOUW & PARTNERS shall be paid by the Purchaser to the Conveyancers within a reasonable time after 7 (Seven) days of written request therefore by the PURCHASER Conveyancers. 4.3 The Purchaser acknowledges that 4.3.1 He shall be obliged to sign the transfer documents within 7 (seven) days of being called upon to receipt thereof. 4.3.2 The Conveyancers are designated as an “accountable institution” in terms of the Financial Intelligence Centre Act No. 38 of 2001 (“FICA”). Certain obligations are placed on the Conveyancers in terms of FICA and the Prevention of Organized Crime Act No. 21 of 1998 (“POCA”) and the Regulations promulgated in terms thereof. The Conveyancers shall not invest and administer any deposits or any other monies paid by the Purchaser in terms of this agreement, unless the Purchaser has complied provided the Conveyancers with the documents that they require in terms of clause 4 hereof FICA. Accordingly the Purchaser undertakes to comply with all requirements of and made payment supply all information and documentation required by the Conveyancers, within 7 (Seven) days of written request therefore, to enable the SELLER'S conveyancers Conveyancers to fulfil their obligations in terms of transfer duty, revenue stamps FICA and all other costs of transfer POCA and matters incidental thereto, for all of which the PURCHASER shall be liable and obliged to make provision on demandRegulations promulgated in terms thereof. 6.2 The parties hereby undertake 4.3.3 Failure to immediately upon written comply with the request by the conveyancers, Conveyancers to furnish information or documentation required by them or to sign all documents conveyancing documents, or to pay conveyancing costs upon request, shall constitute a breach by the Purchaser of his obligations and do all that is necessary, which shall entitle the Seller to give notice in the opinion terms of Clause 9 hereof. 4.4 The Purchaser shall not be entitled to transfer of the conveyancers may property until the whole of the purchase price, costs, interest and other charges have been paid or secured to the Conveyancers' satisfaction. 4.5 Upon registration of transfer, an adjustment in respect of the parties' liability in respect of rates and other charges relating to the property, shall be necessary made by the Conveyancers. 4.6 The Seller shall in no way be liable to effect the Purchaser for any delay in effecting registration of transfer of the property in into the name Purchaser’s name, irrespective of the PURCHASER and reason for the cause of such delay. The Purchaser shall be entitled to give effect to the provisions of the agreement. 6.3 The PURCHASER undertakes resile from this Agreement should transfer not have been registered within 10 12 (ten) days of request to deliver/furnish to the conveyancers such documents/information as may be required to procure compliance with any of the provisions of this transaction or any applicable legislation. 6.4 The PURCHASER acknowledges that he is aware of the fact that he is liable to pay transfer duty within 6 (sixTwelve) months from date of acceptance signature hereof, from which date penalties at a rate of 10% (ten per centrum) per annum on provided that the amount of the transfer duty, will be levied in terms of the Transfer Duty Xxx 0000, Act no. 14 of 1993. In order Purchaser is not to pay any penalties on transfer duty, the PURCHASER is entitled to pay the transfer duty before expiration of the period of 6 (six) months to the Receiver of Revenue, Windhoek, or to the Conveyancers effecting the transfer, and request them to deposit same with the Receiver of Revenue. Although the Conveyancers will endeavour to notify the PURCHASER timeously of responsible for such payment, the PURCHASER hereby indemnify them and the SELLER against any claims that might arise there fromdelay.

TRANSFER AND TRANSFER COSTS. 6.1 Transfer 7.1 Subject to clause 5 hereof, transfer of the PROPERTY shall be effected by the SELLER'S conveyancers THEUNISSEN, LOUW & PARTNERS within a reasonable time after the PURCHASER has complied with the terms of clause 4 hereof and made payment to the SELLER'S conveyancers of transfer duty, revenue stamps and all other costs of transfer and matters incidental thereto, for all of which the PURCHASER shall be liable and obliged to make provision on demand. 6.2 7.2 The parties hereby undertake to immediately upon written request by the conveyancers, to sign all documents and do all that is necessary, which in the opinion of the conveyancers may be necessary to effect registration of transfer of the property in the name of the PURCHASER and to give effect to the provisions of the agreement. 6.3 7.3 The PURCHASER undertakes within 10 (ten) days of request to deliver/furnish to the conveyancers such documents/information as may be required to procure compliance with any of the provisions of this transaction or any applicable legislation. 6.4 7.4 The PURCHASER acknowledges that he is aware of the fact that he is liable to pay transfer duty within 6 (six) months from date of acceptance hereof, from which date penalties at a rate of 10% (ten per centrum) per annum on the amount of the transfer duty, will be levied in terms of the Transfer Duty Xxx 0000, Act no. 14 of 1993. In order not to pay any penalties on transfer duty, the PURCHASER is entitled to pay the transfer duty before expiration of the period of 6 (six) months to the Receiver of Revenue, Windhoek, or to the Conveyancers effecting the transfer, and request them to deposit same with the Receiver of Revenue. Although the Conveyancers will endeavour to notify the PURCHASER timeously of such payment, the PURCHASER hereby indemnify them and the SELLER against any claims that might arise there from.

TRANSFER AND TRANSFER COSTS. 6.1 Transfer 4.1 Registration of the PROPERTY transfer shall be effected by the SELLER'S conveyancers THEUNISSEN, LOUW & PARTNERS within a reasonable time after the PURCHASER has complied with the terms of clause 4 hereof Conveyancers. 4.2 All conveyancing fees and made payment disbursements incidental to the SELLER'S conveyancers of transfer duty, revenue stamps preparation and all other costs of transfer and matters incidental thereto, for all of which the PURCHASER shall be liable and obliged to make provision on demand. 6.2 The parties hereby undertake to immediately upon written request by the conveyancers, to sign all documents and do all that is necessary, which in the opinion of the conveyancers may be necessary to effect registration of transfer of to and bonds by the property in Purchaser, shall be paid by the name of the PURCHASER and to give effect Purchaser to the provisions of the agreement. 6.3 The PURCHASER undertakes Conveyancers within 10 7 (tenSeven) days of written request to deliver/furnish to therefore by the conveyancers such documents/information as may be required to procure compliance with any of the provisions of this transaction or any applicable legislationConveyancers. 6.4 4.3 The PURCHASER Purchaser acknowledges that he is aware of the fact that he is liable that 4.3.1 He shall be obliged to pay transfer duty within 6 (six) months from date of acceptance hereof, from which date penalties at a rate of 10% (ten per centrum) per annum on the amount of sign the transfer duty, will be levied documents within 7 (seven) days of being called upon to receipt thereof. 4.3.2 The Conveyancers are designated as an “accountable institution” in terms of the Transfer Duty Xxx 0000Financial Intelligence Centre Act No. 38 of 2001 (“FICA”). Certain obligations are placed on the Conveyancers in terms of FICA and the Prevention of Organized Crime Act No. 21 of 1998 (“POCA”) and the Regulations promulgated in terms thereof. The Conveyancers shall not invest and administer any deposits or any other monies paid by the Purchaser in terms of this agreement, Act nounless the Purchaser has provided the Conveyancers with the documents that they require in terms of FICA. 14 Accordingly the Purchaser undertakes to comply with all requirements of 1993. In order not and supply all information and documentation required by the Conveyancers, within 7 (Seven) days of written request therefore, to pay any penalties on transfer duty, enable the PURCHASER is entitled Conveyancers to pay fulfil their obligations in terms of FICA and POCA and the transfer duty before expiration of Regulations promulgated in terms thereof. 4.3.3 Failure to comply with the period of 6 (six) months request by the Conveyancers to the Receiver of Revenue, Windhoekfurnish information or documentation required by them or to sign conveyancing documents, or to pay conveyancing costs upon request, shall constitute a breach by the Conveyancers effecting Purchaser of his obligations and shall entitle the Seller to give notice in terms of Clause 9 hereof. 4.4 The Purchaser shall not be entitled to transfer of the Property until the whole of the purchase price, costs, interest and other charges have been paid or secured to the Conveyancers' satisfaction. 4.5 Upon registration of transfer, an adjustment in respect of the parties' liability in respect of rates and request them other charges relating to deposit same with the Receiver of Revenue. Although property, shall be made by the Conveyancers will endeavour to notify the PURCHASER timeously of such payment, the PURCHASER hereby indemnify them and the SELLER against any claims that might arise there fromConveyancers.

TRANSFER AND TRANSFER COSTS. 6.1 Transfer 4.1 Registration of the PROPERTY transfer shall be effected by the SELLER'S conveyancers THEUNISSENConveyancers. 4.2 All conveyancing fees and disbursements incidental to the preparation and registration of transfer to and bonds by the Purchaser, LOUW & PARTNERS shall be paid by the Purchaser to the Conveyancers within a reasonable time after 7 (Seven) days of written request therefore by the PURCHASER Conveyancers. 4.3 The Purchaser acknowledges that 4.3.1 He shall be obliged to sign the transfer documents within 7 (seven) days of being called upon to receipt thereof. 4.3.2 The Conveyancers are designated as an “accountable institution” in terms of the Financial Intelligence Centre Act No. 38 of 2001 (“FICA”). Certain obligations are placed on the Conveyancers in terms of FICA and the Prevention of Organized Crime Act No. 21 of 1998 (“POCA”) and the Regulations promulgated in terms thereof. The Conveyancers shall not invest and administer any deposits or any other monies paid by the Purchaser in terms of this agreement, unless the Purchaser has complied provided the Conveyancers with the documents that they require in terms of clause 4 hereof FICA. Accordingly the Purchaser undertakes to comply with all requirements of and made payment supply all information and documentation required by the Conveyancers, within 7 (Seven) days of written request therefore, to enable the SELLER'S conveyancers Conveyancers to fulfil their obligations in terms of transfer duty, revenue stamps FICA and all other costs of transfer POCA and matters incidental thereto, for all of which the PURCHASER shall be liable and obliged to make provision on demandRegulations promulgated in terms thereof. 6.2 The parties hereby undertake 4.3.3 Failure to immediately upon written comply with the request by the conveyancers, Conveyancers to furnish information or documentation required by them or to sign all documents conveyancing documents, or to pay conveyancing costs upon request, shall constitute a breach by the Purchaser of his obligations and do all that is necessary, which shall entitle the Seller to give notice in the opinion terms of the conveyancers may Clause 9 hereof. 4.4 The Purchaser shall not be necessary entitled to effect registration of transfer of the property in until the name whole of the PURCHASER purchase price, costs, interest and to give effect other charges have been paid or secured to the provisions Conveyancers' satisfaction. 4.5 Upon registration of transfer, an adjustment in respect of the agreement. 6.3 The PURCHASER undertakes within 10 (ten) days parties' liability in respect of request to deliver/furnish rates and other charges relating to the conveyancers such documents/information as may property, shall be required to procure compliance with any of made by the provisions of this transaction or any applicable legislationConveyancers. 6.4 The PURCHASER acknowledges that he is aware of the fact that he is liable to pay transfer duty within 6 (six) months from date of acceptance hereof, from which date penalties at a rate of 10% (ten per centrum) per annum on the amount of the transfer duty, will be levied in terms of the Transfer Duty Xxx 0000, Act no. 14 of 1993. In order not to pay any penalties on transfer duty, the PURCHASER is entitled to pay the transfer duty before expiration of the period of 6 (six) months to the Receiver of Revenue, Windhoek, or to the Conveyancers effecting the transfer, and request them to deposit same with the Receiver of Revenue. Although the Conveyancers will endeavour to notify the PURCHASER timeously of such payment, the PURCHASER hereby indemnify them and the SELLER against any claims that might arise there from.

TRANSFER AND TRANSFER COSTS. 6.1 4.1. Transfer of the PROPERTY Property shall be effected passed by the SELLER'S conveyancers THEUNISSENSeller’s Conveyancers and shall be given by the Seller and taken by the Purchaser as soon as possible after fulfilment of the last of the conditions precedent contained in clause 10 but then only - 4.1.1. after date of issue of the Occupancy Certificate by the local authority; and 4.1.2. where applicable, LOUW & PARTNERS within a reasonable time after delivery of the PURCHASER has complied with guarantee/s contemplated in clause 3.2 and/or 3.3 and/or 3.4; and 4.1.3. further on condition that all the Purchaser’s obligations in terms of clause 4 hereof and made payment this Agreement have been complied with. 4.2. The Purchaser shall, within 7 (seven) days of being so requested by the Seller’s Conveyancers to do so, furnish the SELLER'S conveyancers of transfer duty, revenue stamps Seller’s Conveyancers with any and all other costs of transfer and matters incidental thereto, for all of which the PURCHASER shall be liable and obliged to make provision on demand. 6.2 The parties hereby undertake to immediately upon written request by the conveyancers, to sign all documents and do all that is necessary, which in the opinion of the conveyancers documentation as may be necessary to effect registration of transfer of the property in the name of the PURCHASER and required to give effect to the provisions of the agreementthis Agreement. 6.3 The PURCHASER undertakes within 10 (ten) days 4.3. Should registration of request to deliver/furnish to the conveyancers such documents/information transfer be delayed as may be required to procure compliance with any a consequence of a breach on part of the provisions of this transaction Purchaser, then without derogating from any other rights or any applicable legislation. 6.4 The PURCHASER acknowledges that he is aware remedies of the fact that he is liable to pay transfer duty within 6 (six) months from date of acceptance hereof, from which date penalties at a rate of 10% (ten per centrum) per annum on the amount of the transfer duty, will be levied Seller in terms of the Transfer Duty Xxx 0000, Act no. 14 of 1993. In order not to pay any penalties on transfer dutythis Agreement, the PURCHASER is entitled Purchaser shall be liable to pay compensate that Seller in respect of the transfer duty before expiration said delay by making payment to the Seller of interest in respect of the period of 6 such delay calculated at the Prime Rate plus 3% (sixthree percent) months on the Consideration from the date of commencement of the delay to the Receiver date of Revenueactual payment (days inclusive). 4.4. The Seller shall be liable for and shall pay transfer fees as stipulated in the applicable tariff, Windhoektransfer duty (if applicable), or Deeds Office fees and other normal costs incidental to registration of transfer, including all certificate fees payable to the local authority and/or Association in respect of a levy clearance and rates clearance certificate to be obtained. 4.5. The Purchaser shall be liable for and shall pay mortgage bond costs stipulated in the applicable tariff, Deeds Office fees and other normal costs incidental to registration of a mortgage bond, including charges and fees due to the relevant bank. 4.6. The amounts contemplated in clauses 4.4 and 4.5, plus VAT thereon where applicable, shall be payable on demand and prior to the Date of Transfer to the Seller’s Conveyancers effecting the transfer, and request them to deposit same with the Receiver of Revenue. Although the Conveyancers will endeavour to notify the PURCHASER timeously of such payment, the PURCHASER hereby indemnify them and the SELLER against nominated bond attorneys (if applicable), free of exchange and bank charges. 4.7. The Purchaser shall pay any claims fees and charges and costs of any guarantee(s), to be issued by a financial institution and any other costs not specifically referred to in clauses 3.2, 3.3, 3.4, 4.4 and 4.5. 4.8. The Purchaser acknowledges and accepts that might arise there fromlodgement of transfer at the Deeds Office shall be entirely at the discretion of the Seller’s Conveyancers and the Purchaser's obligations in terms of this Agreement shall remain unaffected by any delay occasioned by the above. The Purchaser shall not be entitled to resile from this Agreement as a result of any such delay.