Sectional Titles Act, 1986 (Act No. 95 of 1986)Part VII : Participation Quotas and Developers34. Shares of developers in buildings and land |
| (1) | The developer shall be the owner of any section in respect of which the ownership is not held by any other person, and the quota of such section or, if there is more than one such section, the total of the quotas of such sections, shall determine the share of the developer in the common property. |
| (2) | When the ownership in every section is held by any person or persons other than the developer, the developer shall, subject to the provisions of section 25(1), cease to have a share or interest in the common property. |
| (3) | When a developer has in one transaction alienated the whole of his or her interest in the land and the building or buildings comprised in a scheme, or a share in the whole of such interest, to any other person, the registrar shall register the transaction by means of a deed of transfer in the case of units and by means of a bilateral notarial deed of cession in the case of rights reserved under sections 25 and 27. |
[Section 34(3) substituted by section 22 of Act No. 44 of 1997]
| (4) | The registrar shall not register the transfer of a transaction referred to in subsection (3) unless— |
| (a) | there is produced to the registrar a clearance certificate of the local authority that— |
| (i) | all rates and moneys due to that local authority in respect of the land concerned have been paid up to and including the day of transfer; or |
| (ii) | in those cases where a law provides for the separate levying of rates in respect of a unit, all such rates due to that local authority in respect of the unit concerned have been paid up to and including the day of transfer; and |
| (b) | there is produced to the registrar a certificate by a conveyancer confirming that, if a body corporate is deemed to have been established in terms of 2(1) of the Sectional Titles Schemes Management Act, that body corporate has certified that all moneys due to the body corporate by the transferor in respect of the units concerned have been paid or provision for the payment thereof has been made to the satisfaction of the body corporate. |
[Section 34(4)(b) substituted by section 16 of the Schedule of Act No. 8 of 2011]
[Section 34(4) substituted by section 7 of Act No. 7 of 1992]