Sectional Title Act definition

Sectional Title Act means the Sectional Title Act, Act 95 of 1986 as amended;
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Sectional Title Act means the Sectional Titles Act No. 95 of 1986 as amended from time to time;
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Sectional Title Act means the Sectional Titles Act No. 95 of 1986, as amended;
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Examples of Sectional Title Act in a sentence

  • The SELLER warrants that Section 10 of the Sectional Title Act is not applicable to the transaction.

  • You are, however, still responsible for ensuring that the property is insured for the full replacement value as stipulated by the Sectional Title Act as amended.

  • In the event of the Property being part of a sectional title complex then the attention of the Purchaser is drawn to the fact that the original developer of the Sectional Title Complex of which the Unit herein purchased forms a part, has reserved to himself in terms of Section 25 of the Sectional Title Act, the right to erect and complete a further building or buildings or extensions to existing building/s upon the common Property.

  • As such, the identities of all clients are to be confirmed and verified and clients’ details are screened against lists published by the Financial Intelligence Centre and where necessary, the information is shared with the FIC;• The Deeds Registry Act 1937 and Sectional Title Act 95 of 1986 which both require full descriptions of the parties and property related to the transaction and all information lodged at the Deeds Office becomes public record.

  • In the event of the property being part of a sectional title complex then the attention of the Purchaser is drawn to the fact that the original developer of the sectional title complex of which the unit herein purchased forms a part, has reserved to himself in terms of Section 25 of the Sectional Title Act, the right to erect and complete a further building or buildings or extensions to existing building/s upon the common property.

  • In instances where the selling price is greater than the EEDBS, any balance remaining must be financed, by using the beneficiaries own resources, which may include mortgage loans.▪ Multiple units: In respect of Multiple Units (flats, cluster homes and row houses) Public sector owners must be realistic about the possibility of any block being suitable for making a sectional title offer and must be in line with the Sectional Title Act.

  • Body Corporates of the Sectional Title Schemes are governed by the Sectional Title Act: a national statute that applies to the formation and operations of all sectional title developments, also makes provision for 'exclusive use rights' in terms of which the owner of a section, who is also the co‐owner of all of the scheme's common property, may enjoy the benefits of an arrangement with the other co‐owners that s/he alone will have the right to use a specified part of the common property.

  • The South African Sectional Title Act has adopted a unique twofold basis for calculation of the co-ownership share of a unit.

  • In conjunction with the trustees we assist the trustees in ensuring that the prescripts as contained in the Sectional Title Act as well as Management/Conduct rules of the Body Corporate are observed.We convene the annual general meeting and attend to the necessary documentation and distribution thereof and also attend 3 trustee meetings and a special general meeting if needed included in the management fee.

  • It is important to note that while trustees’ actions can be restricted by way of a resolution of the members of the scheme, that they can never be halted from performing their duties under the Sectional Title Act 95 of 1986 (“The Act”) and The Sectional Title Schemes Management Act 8 of 2011(“The STSMA”) Trustees are subject to a fiduciary duty which means that they have a responsibility to act in good faith and in the interests of the body corporate at all times.

Related to Sectional Title Act

  • sectional title unit means a unit defined in section 1 of the Sectional Titles Act;

  • sectional title scheme means a scheme defined in section 1 of the Sectional Titles Act;

  • Sectional Titles Act means the Sectional Titles Act, 1986 (Act No. 95 of 1986);

  • Title V means Title V of the federal Act for the Senior Community Service Employment Program for Older Americans.

  • Immaterial Title Deficiencies means minor defects or deficiencies in title which do not diminish more than 2% of the aggregate value of the Oil and Gas Properties evaluated in the Reserve Report used in the most recent determination of the Borrowing Base.

  • Additional Tier 1 Capital means capital which is treated as Additional Tier 1 capital (or any equivalent or successor term) under CRD IV requirements by the Relevant Regulator for the purposes of the Issuer and the Group;

  • Permitted Title Exceptions means those exceptions to title to the Real Property that are satisfactory to the Acquiror as determined pursuant to Section 2.2.

  • Fecal coliform means aerobic and facultative, Gram-negative, nonspore-forming, rod-shaped bacteria capable of growth at 44.5° C, and associated with fecal matter of warm-blooded animals;

  • Owner’s Title Policy means those certain ALTA extended coverage owner’s policies of title insurance issued in connection with the closing of the Mortgage Loan insuring the Mortgage Borrower as the owner of the Property.

  • Transferred Interests has the meaning set forth in the Recitals.

  • Class Title means the designation given under these rules to a class and to each position allocated to such class.

  • the Macfarlane (Special Payments) (No. 2) Trust means the trust of that name, established on 3rd May 1991 partly out of funds provided by the Secretary of State, for the benefit of certain persons suffering from haemophilia and other beneficiaries;

  • REMIC I Assets All of the Mortgage Pool Assets.

  • 1990 Act means the Town and Country Planning Act 1990;

  • Solid Waste Disposal Site means, as defined in NCGS 130A-290(a)(36), any place at which solid wastes are disposed of by incineration, sanitary landfill, or any other method.

  • Waste Disposal Site means a Waste Disposal Site which is not a Hauled Sewage Disposal Site, a Sewage Works or a Waste Stabilization Pond; and

  • 2012 Act means the Health and Social Care Act 2012;

  • Existing Title Policy means, the existing title insurance policy for the Property.

  • REMIC II Assets The REMIC I Regular Interests.

  • AT&T OHIO means the AT&T owned ILEC doing business in Ohio.

  • Title Transfer means the transfer of title to Gas between two (2) Shippers at a Delivery Point, provided that each such party has executed a Transportation Service Agreement, or the transfer of title to Gas between two (2) Shippers at ATP, provided each such party has executed either a Transportation Service Agreement or a Title Transfer Agreement.

  • Undivided Interest means the undivided interest in the Trust evidenced by an Investor Certificate.

  • Transferred Interest means, at any time of determination, an undivided percentage ownership interest in (i) each and every then outstanding Receivable, (ii) all Related Security with respect to each such Receivable, (iii) all Collections with respect thereto, and (iv) other Proceeds of the foregoing, which undivided ownership interest shall be equal to the Aggregate Percentage Factor at such time, and only at such time (without regard to prior calculations). The Transferred Interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, shall at all times be equal to the Transferred Interest in each other Receivable, together with Related Security, Collections and Proceeds with respect thereto. To the extent that the Transferred Interest shall decrease as a result of a recalculation of the Aggregate Percentage Factor, the Administrative Agent on behalf of the applicable Class Investors shall be considered to have reconveyed to the Transferor an undivided percentage ownership interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, in an amount equal to such decrease such that in each case the Transferred Interest in each Receivable shall be equal to the Transferred Interest in each other Receivable.

  • B-BBEE Act means the Broad-Based Black Economic Empowerment Act, 2003;

  • Solid Waste Disposal Facility means any facility involved in the disposal of solid waste, as defined in NCGS 130A-290(a)(35).

  • REMIC I Interests The REMIC I Regular Interests and the Class R-I Certificates.