Sectional Title Schemes definition
Examples of Sectional Title Schemes in a sentence
The said exclusive use area shall be allocated in terms of Section 10(7) and (8) of the Sectional Title Schemes Management Act No 8 of 2011(Management Rules) in favour of the Purchaser.
Notwithstanding anything to the contrary stipulated for in this sale agreement, it is agreed between the parties that if a special levy is pro-rated by the Body Corporate as contemplated in Section 3(3) of the Sectional Title Schemes Management Act, 2011 the Purchaser will be liable for such portion which is payable after date of registration of transfer and the Seller liable for such portion for periods prior thereto.
The Developer however reserves the right to implement Section 11(2)(d) of the Sectional Title Schemes Management Act 8 of 2011.
These Conduct Rules, the provisions of section 13 of the Sectional Title Schemes Management Act, No 8 of 2011, as amended from time to time, are applicable to and binding upon the trustees, the manager (if so contracted), the managing agent (if so contracted), and all owners, tenants (lessees), and other occupiers of sections.
The Exchanged Shares pursuant to this Section shall be, when issued, fully paid, and non-assessable.
This sale is affected subject to the terms and conditions set out in or to be endorsed upon the Sectional Plans, and in the Rules which are to be registered or as they are already registered in respect of the scheme as envisaged in terms of the Sectional Title Schemes Management Act 8 of 2011, as well as existing conditions of title.
The Trustees compiled the rules of conduct within the stipulation of the Sectional Titles Act 1986 (as amended) and the Sectional Title Schemes Management Act, 2011 (as amended).
The trustees of the Sectional Title Schemes, by attaching their signatures to this document, agree that its contents are binding on all parties and accept the responsibility of obtaining indemnity from all owners and residents.
In the event of a sectional title property and notwithstanding anything to the contrary stipulated for in this sale agreement, it is agreed between the parties that if a special levy is pro-rated by the Body Corporate as contemplated in Section 3(3) of the Sectional Title Schemes Management Act, 2011 the Purchaser will be liable for such portion which is payable after date of registration of transfer and the Seller liable for such portion for periods prior thereto.
Roles and responsibilities of the elected Trustees and Directors of the JBOT are governed, where applicable, by the Act, the Sectional Title Schemes Management Act, the Companies Act, the MOI and / or the Commercial Agreement.