When selling commercial properties, registered in the name of a company or close corporation, some sellers opt to sell the shares in the company or the members’ interest as opposed to transferring title of the property itself.
Doing so naturally has many financial benefits for the seller and can often speed up the process of transfer as no registration of transfer of title is required in the Deeds Office.
Having said this, parties to such a transaction should always ensure that they obtain the legal advice of an experienced conveyancer and also discuss the matter fully with their accountant / financial advisor to ensure that they obtain full guidance in the matter.
For assistance in compiling / concluding a sale of shares or sale of member’s interest agreement, contact Lucas Landman at our office on 035 792 2011 to schedule an appointment.