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Suspensive condition | Conveyancing terms

From a conveyancing perspective, a Suspensive condition is a condition in an Offer to Purchase/Deed of Sale which delays enforceability of the agreement until the condition is fulfilled.
The most common suspensive conditions in a Deed of Sale are that the sale is subject to Mortgage Bond Approval; or that the sale is subject to the sale of the purchaser’s property – by a specific date. (in the event of the Mortgage Bond not being approved or the sale not being effected by the due date, the agreement automatically lapses.)

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