Restriction on Alienation definition
Restriction on Alienation. This unit shall not be sold or alienated in any way nor shall any transfer thereof be registered without the written consent of the Body Corporate and Combined Developers (Pty) Ltd, which consent will not be unreasonably withheld. By registering this condition against the title deed of the property, it allows the developer and the Body Corporate to uphold and safeguard the standard and condition of the development as intended, and it ensures compliance by the owners of all the conduct and management rules pertaining thereto, which in turn shall also be to the benefit of the owners.
Restriction on Alienation. This unit shall not be sold or alienated in any way nor shall any transfer thereof be registered without the written consent of the Body Corporate and Combined Developers (Pty) Ltd, which consent will not be unreasonably withheld. By registering this condition against the title deed of the property, it allows the developer and the Body Corporate to uphold and safeguard the standard and condition of the development as intended, and it ensures compliance by the owners of all the conduct and management rules pertaining thereto, which in turn shall also be to the benefit of the owners. SIGNED at on this day of 201 , for and behalf of THE SELLER who warrants that he/she is duly authorised thereto. Full name Signature Capacity of signatory ID Number of signatory Full name Signature Capacity of witness ID Number of witness Full name Signature Capacity of witness ID Number of witness SIGNED at on this day of 201 , for and behalf of THE PURCHASER who warrants that he/she is duly authorised thereto. Full name Signature Capacity of signatory ID Number of signatory
Examples of Restriction on Alienation in a sentence
The following special conditions imposed by Combined Developers (Pty) Ltd in its favour and the favour of the HOME OWNERS ASSOCIATION, will be registered against the title deed of the Property, namely: Restriction on Alienation: This erf shall not be sold or alienated in any way nor shall any transfer thereof be registered without the written consent of the HOME OWNERS ASSOCIATION and Combined Developers (Pty) Ltd, which consent will not be unreasonably withheld.
Restriction on Alienation: A spendthrift clause can be included in the trust agreement to prevent beneficiaries from transferring their interest in the trust.