#InstalmentSaleAgreement Archives - Bert Smith Incorporated

25 07 '19

Can I sell my house on ALA if it is bonded?

Yes you can on condition that the purchase price is not less than the monies owed under the existing bond. There are very few attorneys in South Africa who specialise in setting up secure fixed property instalment sale agreements. At Bert Smith Attorneys, this is our speciality. Contact Us and we will assist you.

25 07 '19

Does occupational rental reduce the purchase price?

No, as it does not constitute as capital.

25 07 '19

What are the main points that parties need to get agreement on?

Purchase price Terms Deposit Instalments (capital) Occupation date and occupational rental

25 07 '19

What are the 3 main qualification criteria to implement an Instalment Sale Agreement in terms of the ALA Act 68/81?

Transaction term over term longer that 1 year Capital payable in more than 2 instalments Property is not agricultural land