|
|
|
Conditions of Sale |
- The property is sold subject to the Law
Association of Zambia General Conditions of Sale 1997 so far as the same
are not inconsistent with or varied by these Special Conditions.
- The period fixed for obtaining the
State's Consent and any other licences to assign shall be four (4) weeks
from the date that Title, with respect to the property to be Subdivided,
is issued.
- The date fixed for completion is within
two ( 2 ) weeks after obtaining the necessary State Consent to Assign.
- The Vendor is selling as Beneficial
Owner.
- The title shall commence with
Certificate of Title issued in relation to the property.
- The property is sold subject to the
exceptions, reservations, restrictions restrictive covenants and
conditions as are endorsed in the Memorials to the said Certificate of
Title relating to the property.
- The property is sold subject to the
condition that the Purchaser agrees to pay Property Transfer Tax, ground
rent and state consent fee rates affecting the property.
- The Purchaser has paid the full purchase
price receipt whereof the Vendor hereby acknowledges.
- The property is sold subject to the
condition that the Purchaser agrees to acquire it in its present state
of repair and condition.
- The property is sold subject to the
condition that the Vendor and the Purchaser agree to bear their own
legal costs and the Purchaser agrees to bear the registration fees
incidental to assignment of the property.
- The Purchaser acknowledges that the
property is to be used for residential purposes only and accordingly no
commercial activities whatsoever shall be conducted on the property.
- The Purchaser will be allowed a period
of not more than 12 months from the date of completion to start
developments on the plot.
- The Vendor shall have the option to
buy-back any plot that will not be developed within the allowable
period.
- The Vendor shall be entitled to buy-back
undeveloped plots at 75% of the initial purchase price of plots.
- The Purchaser of a plot will be allowed
a period not exceeding 36 months in which to complete construction of
the structure(s) on the plot from the date of completion.
- The Vendor shall have the option to buy
back any plot with incomplete developments/structures at the expiry of
the allowable period for development. In such a case, the Vendor shall
have the right to pay only up to 60% of the material cost of the
structure upon verification of invoices/receipts by the Vendors and/or
vendors’ appointed agents.
- The Purchaser shall not be allowed to
sub-divide, merge or amalgamate plots either at the stage of purchase of
the plot or upon completion or after developing the said plot without
the express approval of the Vendor. For avoidance of doubt, the
Purchaser shall not at any stage whatsoever sub-divide, merge or
amalgamate plots without the express approval of the Vendor.
- The Vendor shall have the first right of
refusal where the Purchaser decides to sell the plot before undertaking
full development thereon.
- The term DEVELOPMENT shall have the same
meaning as that defined in the town and Country Planning Act Cap. 283 of
the Laws of Zambia.
- The Purchaser shall not sell, assign,
transfer or rent an undeveloped plot and or incomplete structures
without prior approval from the Vendor.
- Construction by the Purchaser shall only
commence after issuance of the Clearance Certificate of the design and
plans of the intended development by the Vendor or Vendor’s agent. The
Purchaser shall not make any application for planning permission to the
local authorities without first obtaining the Vendor’s written consent
and if the Vendor attached any conditions to the consent not to apply
for an planning permission except in accordance with those conditions.
|
|
