Common Contracts
1 similar Redistribution Agreement contracts
Redistribution agreement pdfRedistribution Agreement • July 9th, 2023
Parties to a redistributed agreement In terms of section 14(1)(b)(iii) of the Act, a redistribution agreement can be entered into in between heirs and legatees, including ascertained and competent fideicommissary heirs and legatees. The executor need not be a party to a redistribution agreement (see RCR 34 of 2005). To enter into a redistribution agreement, the heirs and legatees must have vested rights, and not merely a spes (see Leach v Champion Estates Ltd 1956 (3) SA 674 (O)). This is not true with regard to the rights of fideicommissary heirs, as section 14(1)(b)(iii) specifically provides that they may be a party to such agreement. 6.1 Surviving spouse as a party To be competent to enter into a redistribution agreement, the surviving spouse must also be an heir or legatee in the estate of the deceased or a joint estate must be involved (see Chief Registrars Circular No 10 of 1969). 6.2 Unascertained heirs A redistribution agreement where unascertained heirs are involved (for exam
