Apartment Sale Agreement Template for Indonesia

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Key Requirements PROMPT example:

Apartment Sale Agreement

"I need an Apartment Sale Agreement for a new development unit in Jakarta, where I'm representing the developer selling to a first-time buyer who requires bank financing, with completion scheduled for March 2025."

Document background
The Apartment Sale Agreement is a crucial legal instrument used in Indonesian real estate transactions for the transfer of apartment ownership. This document is essential when selling or purchasing apartment units in Indonesia, whether new developments or resale properties. It must comply with Law No. 20 of 2011 on Apartments (Rumah Susun) and other relevant Indonesian property laws. The agreement covers all aspects of the transaction, including property details, payment terms, warranties, and transfer procedures. It's particularly important as apartment ownership in Indonesia involves specific rights and obligations related to common areas and building management. The document protects both parties' interests while ensuring compliance with local property registration requirements, tax obligations, and building regulations.
Suggested Sections

1. Parties: Identification of the seller and buyer with complete legal names and details

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

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

4. Object of Sale: Detailed description of the apartment unit, including unit number, floor, building name, and certificate details

5. Purchase Price: Agreed purchase price and payment terms, including deposit and installment schedule if applicable

6. Payment Method: Specified method of payment and bank account details

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

8. Representations and Warranties: Statements of fact and guarantees by both parties regarding their capacity and the property

9. Rights and Obligations: Detailed responsibilities of both parties before, during, and after the transfer

10. Property Handover: Terms and process for the physical handover of the apartment

11. Transfer of Title: Process and requirements for legal transfer of ownership

12. Taxes and Costs: Allocation of transaction taxes, fees, and other costs

13. Default and Termination: Consequences of breach and conditions for termination

14. Dispute Resolution: Process for handling disputes, including jurisdiction and applicable law

15. Force Majeure: Provisions for unforeseen circumstances affecting contract performance

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

17. Governing Law: Specification of Indonesian law as governing law

18. Execution: Signature blocks and execution requirements

Optional Sections

1. Mortgage Provisions: Required if buyer is obtaining mortgage financing, including conditions and requirements

2. Developer Warranties: Included if the apartment is a new unit directly from developer

3. Broker Provisions: Required if real estate agents are involved in the transaction

4. Furniture and Fixtures: Included if sale includes furniture or specific fixtures

5. Defect Liability: Detailed provisions for handling defects, particularly important for new developments

6. Management Agreement: Reference to building management terms if required to be signed separately

7. Renovation Conditions: Include if there are specific agreements about permitted renovations

8. Parking Rights: Required if parking spaces are sold separately or have special conditions

Suggested Schedules

1. Property Details: Detailed technical description of the apartment unit, including floor plans and specifications

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

3. Certificate Details: Copy or details of the Strata Title Certificate (SHMSRS)

4. Inventory List: List of furniture and fixtures included in the sale, if applicable

5. Building Rules: Copy of the building management rules and regulations

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

7. Form of Handover Certificate: Template for the property handover documentation

8. Power of Attorney: Standard format for power of attorney if required for registration

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

Clauses
Relevant Industries

Real Estate

Property Development

Construction

Banking & Finance

Legal Services

Property Management

Investment

Housing & Development

Urban Planning

Facilities Management

Relevant Teams

Legal

Real Estate

Sales

Compliance

Property Management

Finance

Risk Management

Business Development

Operations

Contract Administration

Relevant Roles

Real Estate Manager

Property Developer

Legal Counsel

Property Manager

Sales Director

Compliance Officer

Contract Administrator

Real Estate Agent

Property Lawyer

Financial Controller

Development Manager

Asset Manager

Transaction Manager

Project Manager

Risk Manager

Industries
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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