Leaving anything important out of your Property Sale Agreement will sink it
18 July 2023
In what format must your property sale agreement be, and what terms and conditions must it incorporate for it to... be valid and enforceable?
We’ll address that question with reference to a recent Supreme Court of Appeal fight over a R4.5m sale of land which was declared void after 7 years of confusion, delay, and wasted opportunity. All because the parties failed to include in their sale agreement a term relating to the subdivision of one of the pieces of land being sold. Our discussion covers what must be included in your sale agreement, what “essential” and “material” terms are, why it matters, and why clarity and certainty are vitally important.