Agreement To Sell Property Template for Indonesia

The Agreement To Sell Property is a crucial legal document used in Indonesian property transactions to formalize the sale and purchase of real estate. It serves as the primary contract between the seller and buyer, establishing their rights and obligations under Indonesian law. This document is essential when any party wishes to transfer property ownership and requires careful consideration of local property regulations, including the Basic Agrarian Law, land registration requirements, and foreign ownership restrictions if applicable. The agreement typically precedes the final deed of transfer (Akta Jual Beli) and must be properly executed to ensure legal enforceability. It includes detailed provisions about the property, payment terms, conditions precedent, and completion requirements, while addressing specific Indonesian legal requirements for property transactions.

1. Parties: Identification and details of the Seller and Buyer, including their legal capacity to enter into the agreement

2. Background: Context of the transaction, including brief description of the property and the parties' intention to enter into the sale and purchase transaction

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

4. Property Details: Comprehensive description of the property being sold, including its legal status and certificates

5. Purchase Price: Agreed purchase price and detailed payment terms

6. Payment Method: Specific methods of payment and timeline for installments if applicable

7. Conditions Precedent: Conditions that must be fulfilled before the sale can proceed

8. Seller's Representations and Warranties: Seller's declarations regarding property ownership, encumbrances, and legal status

9. Buyer's Representations and Warranties: Buyer's declarations regarding legal capacity and financial ability to purchase

10. Completion: Process and requirements for completing the property transfer

11. Tax Obligations: Distribution of tax responsibilities between parties

12. Default and Termination: Consequences of default and conditions for agreement termination

13. Notices: Method and addresses for official communications between parties

14. Governing Law: Confirmation of Indonesian law as governing law and jurisdiction

15. Dispute Resolution: Process for resolving disputes between parties