Section 8 of the Act excludes certain agreements from the operation of the law, namely the leasing of land. It is clear from the above that a rental of real estate is expressly excluded from the operation of the law, but the law does not explicitly exclude a temperance purchase contract for real estate. 5. And finally, of great importance, is the fact that, if interest were to be levied on rates as one would expect, and the purchaser is a consumer under the National Credit Act, then all NCA requirements will apply as well. Is Home Real Estate “Real Estate Law” Is your sale of land in increments subject to the national credit law? The information and documents published on this website are only for general purposes and do not constitute legal advice. Please note that the models at our disposal are those of a SALE CONTRAT and QUOTATION in which the buyer is a consumer within the meaning of the national credit law (i.e. where the purchase agreement provides for interest or other ancillary costs within the meaning of the law). These models were obtained by the site of the former company of the cape law, around 2015. We cannot and do not take any responsibility for the accuracy of these proposals.
We provide them exclusively as examples of such documents, to allow the reader to better understand the legitimacy surrounding such staggered purchase contracts. We will assure you in the utmost firmness that you only do so with the help of a real estate lawyer who has expertise in temperate sales contracts and in the National Credit Act if you wish to enter into such an agreement or a normal temperate purchase agreement. It should be noted that any seller who wishes to enter into such a sales contract if the National Credit Act applies must also register as a credit provider with the National Credit Regulatory Authority and, as such, we do not recommend that you consider such an agreement, unless you have received the advice and support of an expert in the field. Therefore, sellers should avoid sales contracts with individuals or small businesses, for a fee, fee or interest payable to the seller, otherwise the provisions of the NCA apply to the seller and the temperance purchase contract itself. These provisions can be cumbersome, including registering as a credit provider with the national credit regulator, implementing robust financial affordability assessments for borrowers, using NCA-compliant documents and agreements, enforcing NCA collection procedures, etc.