Sectional Title Act definition
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.
The Purchaser acknowledges that his/her rights as owner of the Property are circumscribed by the provisions of the Sectional Title Act, and the applicable Management and Conduct Rules, and undertakes to abide by them from date of occupation or registration of transfer, whichever date occurs first.
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 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.
The PURCHASER acknowledges that there has / has not been a reservation by the developer of a right to extend in terms of Section 25 of the Sectional Title Act 95/1986 of the abovementioned Sectional Title Scheme.
It is recorded that the Seller wishes to either reserve the right or already has reserved the right to develop the Scheme in phases according to the provision of Section 25 of the Sectional Title Act.
Please note that in terms of the Sectional Title Act 95 of 1986, the OWNER remains liable and responsible for the conduct of any lessee or other occupant of any section and that it is the OWNER’S duty to ensure compliance with the rules by his lessee or occupant, including employees, guests and any member of his family, his lessee or his occupant.
The Unit is sold subject to all the provisions of the Sectional Title Act 95 of 1986 (as amended) and subject to the provisions of the rules of the body corporate lodged or to be lodged with the Registrar of Deeds in terms of the Sectional Titles Act and the STSM Act and approved by the Community Schemes Ombud Service as required.
The requirements of what constitutes an Ordinary Resolution or a Special Resolution and who may vote at an Annual General Meeting or a Special General Meeting are set out in the Sectional Title Act and / or the Sectional Title Schemes Management Act.
The Purchaser hereby purchases from the Seller the following unit to be erected in the sectional title scheme known as which will be opened in terms of the Sectional Title Act no.