| Term | Definition |
|---|---|
| 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 company, close corporation or trust. Afrikaans - Afkoel Klousule |