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Agreement For Sale And Sale Deed

Agreement For Sale And Sale Deed Template for Indonesia

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Key Requirements PROMPT example:

Agreement For Sale And Sale Deed

"I need an Agreement for Sale and Sale Deed for the purchase of a commercial warehouse property in Jakarta Industrial Park, where the buyer is a foreign-owned manufacturing company, with completion scheduled for March 2025 and special environmental warranties required."

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Document background
The Agreement for Sale and Sale Deed is a crucial document in Indonesian property transactions, combining both the contractual agreement and the formal transfer deed in accordance with Indonesian law. This document is essential when transferring property ownership in Indonesia, whether for residential, commercial, or industrial purposes. It must comply with the Indonesian Civil Code, Basic Agrarian Law, and various property regulations. The document is used for both private and commercial transactions, requiring execution before a notary public and subsequent registration with the Land Office. The combined format ensures that both the contractual obligations and the legal transfer requirements are properly documented, making it particularly important for property developers, businesses expanding their premises, and individuals buying or selling property.
Suggested Sections

1. Parties: Identification of the seller and purchaser with complete legal details as required under Indonesian law

2. Background: Context of the transaction, including brief property description and intention to sell/purchase

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Details: Comprehensive description of the property including certificate number, land area, building specifications, and boundaries

5. Purchase Price: Agreed purchase price, payment terms, and method of payment

6. Payment Terms: Detailed schedule of payments, including deposit and installment arrangements if applicable

7. Conditions Precedent: Conditions that must be satisfied before completion of the sale

8. Seller's Warranties: Warranties regarding property ownership, absence of encumbrances, and authority to sell

9. Property Handover: Terms and process for physical handover of the property

10. Title Transfer: Process and requirements for legal transfer of title

11. Taxes and Costs: Allocation of transaction costs, taxes, and fees between parties

12. Default and Termination: Consequences of default and circumstances allowing termination

13. Governing Law: Confirmation of Indonesian law as governing law

14. Dispute Resolution: Process for resolving disputes, including jurisdiction

Optional Sections

1. Foreign Ownership Compliance: Required when purchaser is a foreign national, detailing compliance with Indonesian foreign ownership restrictions

2. Broker Provisions: Include when a property broker is involved in the transaction

3. Existing Tenancies: Required when the property is subject to existing lease agreements

4. Mortgage Release: Include when the property needs to be released from an existing mortgage

5. Construction Warranties: Required for new properties or recent constructions

6. Strata Title Provisions: Include for apartments or properties under strata title

7. Environmental Conditions: Required for industrial properties or properties with potential environmental issues

Suggested Schedules

1. Property Description Schedule: Detailed technical description of the property, including certificates and measurements

2. Payment Schedule: Detailed breakdown of payment installments and due dates

3. Title Documents: Copies of land certificates and other title documents

4. Property Plans: Official site plans, building plans, and boundary maps

5. Due Diligence Results: Summary of property checks and verifications

6. Handover Inventory: List of items included in the sale and their condition

7. Required Permits: Copies of relevant permits and licenses

8. Tax Certificates: Property tax payment evidence and certificates

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Property
Certificate of Title
Completion Date
Deposit
Encumbrances
Purchase Price
Handover Date
Land Office
PPAT (Land Deed Official)
Notarial Deed
Building Rights Title (HGB)
Right of Ownership (Hak Milik)
Completion
Due Diligence
Effective Date
Force Majeure
Government Authority
IMB (Building Permit)
Land Certificate
Material Adverse Change
Permitted Use
Property Tax
Purchase Price
Registration
Sale Deed
Settlement Date
SHM (Certificate of Ownership)
Title Documents
Transfer Tax
Vacant Possession
Working Day
Zoning Requirements
BPHTB (Land and Building Rights Transfer Duty)
PBB (Land and Building Tax)
Conditions Precedent
Completion Documents
Default Event
Property Documents
Registration Requirements
Seller's Warranties
Transfer Documents
Clauses
Parties and Recitals
Definitions
Sale and Purchase
Purchase Price
Payment Terms
Property Description
Title Transfer
Conditions Precedent
Due Diligence
Seller's Warranties
Buyer's Warranties
Property Handover
Notarial Requirements
Registration
Taxes and Duties
Costs and Expenses
Representations and Warranties
Default
Termination
Force Majeure
Notices
Assignment
Entire Agreement
Severability
Amendments
Governing Law
Dispute Resolution
Language
Counterparts
Property Insurance
Environmental Compliance
Indemnification
Confidentiality
Further Assurance
Time of Essence
Survival
Broker Provisions
Foreign Ownership Compliance
Relevant Industries

Real Estate

Construction

Property Development

Banking & Finance

Manufacturing

Retail

Hospitality

Industrial

Agriculture

Commercial Property

Residential Property

Relevant Teams

Legal

Real Estate

Property Management

Facilities Management

Compliance

Business Development

Investment

Corporate Affairs

Asset Management

Risk Management

Relevant Roles

Legal Counsel

Property Manager

Real Estate Director

Facilities Manager

Chief Legal Officer

Business Development Manager

Property Development Manager

Investment Manager

Compliance Officer

Corporate Secretary

Real Estate Agent

Property Broker

Notary Public

Land Registration Officer

Asset Manager

Industries
Indonesian Civil Code (KUHPerdata): The fundamental law governing contracts and agreements in Indonesia, particularly Book III on Obligations and Book II on Property
Basic Agrarian Law No. 5 of 1960: The primary law governing land rights and land transfers in Indonesia, establishing the basic principles of land law and ownership
Government Regulation No. 24 of 1997: Regulation on Land Registration that governs the procedures for property registration and transfer of title
Law No. 2 of 2014 on Notary Position: Law governing notarial deeds and the role of notaries in property transactions, as sale deeds must be executed before a notary
Government Regulation No. 103 of 2015: Regulation on House Ownership by Foreigners Domiciled in Indonesia, relevant if the transaction involves foreign parties
Minister of Agrarian Affairs Regulation No. 3 of 1997: Implementation regulations for land registration, including technical requirements for deed preparation and registration
Regional Spatial Planning Laws: Local regulations governing land use and development in specific areas, which may affect property transactions
Law No. 28 of 2009: Law on Regional Taxes and Retribution, including regulations on land and building transfer tax (BPHTB)
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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