Common Contracts
1 similar Instalment Sale Agreement contracts
It is compulsory, when concluding an instalment sale agreement in respect of land, thatInstalment Sale Agreement • March 5th, 2014
the contract is recorded by the Registrar of Deeds against the property‟s title deed. Failure to so do (temporarily) obliterates the seller‟s right to receive any payments and defaulting purchasers are practically not considered to be „in arrears‟. Although the State is exempt from the recordal obligation, the Court in this matter held that the Cape Town Community Housing Company‟s claims against the „defaulting‟ purchasers had to fail as it could not rely on the exemption. It acted as agent, performing some of the State‟s functions on its behalf, but was not an organ of the State as meant in the exemption.
