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DEED OF TRANSFER PT. 2 - Coggle Diagram
DEED OF TRANSFER PT. 2
THE TRANSFEROR
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It must be remembered that the registration of a deed of transfer is a unilateral legal act by the transferor and that such transferor is the most important person mentioned in the deed of transfer.
When the seller signs the POA, he is fulfilling his obligations under the contract. There is thus a unilateral legal act by the transferor.
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PARTNERSHIPS
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Two aspects are important in the description of partners in a partnership in both the preamble and the vesting clause
Must contain: i) full names & surnames ii) identity numbers and iii) marital status of every partner.
Immediately after the personal information , that such partners "together carrying on business in partnership as (name of partnership"
Where immovable property is purchased by a partnership and one of the partners to such partnership is MICOP, such property must be registered in the name of the partner only as partner and not in the name of the joint estate
Where parties married ICOP and both entered into the same partnership / any partnership, there is no prohibition to the registration of immovable property in the name of such partnership. A person married ICOP is entitled to enter into a partnership agreement with any person including their spouse.
In such case the property must be vested in the name of both spouses married ICOP to each other - "carrying on business in partnership as ..."
Parties married ICOP who enter into a partnership with one another may not agree in the partnership agreement that each partner has a different share in the partnership
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