WITNESSING A PROPERTY SALE AGREEMENT
WITNESSING A PROPERTY SALE AGREEMENT
Must a sale agreement of land bear the signature of a witness in order to be valid? No, there is no such requirement in our law although it is generally advisable to have witnesses sign the agreement to facilitate proof, should it become necessary, that the signatures that appear are those of the seller and purchaser identified in the agreement.
Some retail banks have however now made it a requirement that a sale agreement must carry at least one witness signature before that bank will consider an application by the purchaser for financing. It is therefore advisable to make sure a witness sign the agreement if the purchaser intends applying for a loan.
13 Mar 2017
Author Welgedacht Properties
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