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Thread: Vehicle Sale Template

  1. #1
    Platinum Member sterne.law@gmail.com's Avatar
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    Vehicle Sale Template

    Greetings my fellow TFSA'ers.

    I am designing templates.
    The challenge is to make it easy for the user (presuming they have little knowledge of subject matter) yet vague enough to be flexible.

    Appreciate your thoughts in this regard, if templates should have notes, instructions
    Attached Files Attached Files
    Anthony Sterne

    www.acumenholdings.co.za
    DISCLAIMER The above is merely a comment in discussion form and an open public arena. It does not constitute a legal opinion or professional advice in any manner or form.

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    Diamond Member Justloadit's Avatar
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    On the seller's rights on breach of contract, what if the Purchaser moves or does not notify the seller of his new address or even provides an incorrect address, or simply disappears before full payment, meaning that there will be no acknowledgement of receipt of the notice?

    What if the purchaser defaults and con not pay the full amount as requested in the breach?
    Victor - Knowledge is a blessing or a curse, your current circumstances make you decide!
    Solar and LED lighting solutions - www.microsolve.co.za

  3. #3
    Platinum Member sterne.law@gmail.com's Avatar
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    Default, seller take possession as per normal remedies. There is scope for clauses to say payments forfeited.
    Seller keeps papers and is still owner, so that allows for certain powers.

    As to moving, it may be a good idea to put a tracker and keeping sellers name.
    Anthony Sterne

    www.acumenholdings.co.za
    DISCLAIMER The above is merely a comment in discussion form and an open public arena. It does not constitute a legal opinion or professional advice in any manner or form.

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    Diamond Member Justloadit's Avatar
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    Happy with your reply, my problem in the past was tracking the vehicle down. Another instance - when is the vehicle transferred to the new owner?

    My experience, while holding onto ownership, was that the purchaser rolled up a number of hefty traffic fines during the period before full payment, an in one instance even managed to get a summons to a dorpie in the middle of nowhere due to speeding. Whilst I did an affidavit stating that I was not the driver, and had it couriered, it was still a frightening experience if it was not accepted by the local court.

    Another issue to take into consideration is E-Tolls as well.
    Victor - Knowledge is a blessing or a curse, your current circumstances make you decide!
    Solar and LED lighting solutions - www.microsolve.co.za

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    Site Caretaker Dave A's Avatar
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    The solution to the fines etc. problem might be to do it the way the banks do it - transfer title to the purchaser, but remain as owner until the debt is paid.

    Question - with it being effectively an instalment sale agreement, would this arrangement require the seller to become registered as a credit provider in terms of the National Credit Act nowadays?

    p.s love the template concept, Anthony. And a great example.
    Last edited by Dave A; 06-Aug-14 at 10:15 PM.
    The trouble with opportunity is it normally comes dressed up as work.

  6. #6
    Platinum Member sterne.law@gmail.com's Avatar
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    The contract is structured so that ownership vests with seller and he keeps papers.
    An interesting point - ownership and possession are 2 different things.
    You might possess but not own and vice versa.
    So ownership stays with seller (like the bank would be), and only passes on final payment.

    In the absence of a fee or charge, it escapes the definition of a credit agreement.

    Of course larger transactions will possibly have charges .
    The other issue is the requirement to register which deals with the threshholds.
    So probably good idea to title the agreement as for sales under XYZ rand (XYZ being the threshold)
    Anthony Sterne

    www.acumenholdings.co.za
    DISCLAIMER The above is merely a comment in discussion form and an open public arena. It does not constitute a legal opinion or professional advice in any manner or form.

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    Dave A (06-Aug-14)

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    Site Caretaker Dave A's Avatar
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    Quote Originally Posted by sterne.law@gmail.com View Post
    In the absence of a fee or charge, it escapes the definition of a credit agreement.
    Ah yes, of course.
    Thanks for clearing that up.
    The trouble with opportunity is it normally comes dressed up as work.

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