Cooling-off Right

A statutory right, recorded in Section 29A of the Alienation of Land Act, giving the buyer of a residential property costing R250,000 or less, the right to withdraw from the sale within five working days of signing the offer to purchase. It does not apply if the buyer is a A trading entity that is commonly used for commercial activity and may enter into agreements of sale or lease in its own name. Afrikaans - Maatskappy

">company, close corporation or A contract between the founder and the trustee in terms of which the trustee is to administer the trust fund for the benefit of the beneficiaries.

">trust. Afrikaans - Afkoel Klousule