Assignable Real Estate Contract Template for Indonesia

The Assignable Real Estate Contract serves as a crucial document for property transactions in Indonesia where the buyer wishes to retain the right to transfer their purchase rights to another party. This document is particularly useful in pre-completion property transactions, investment purchases, and development projects where the initial buyer may need flexibility to assign their rights. It must comply with Indonesian property law, including the Basic Agrarian Law and relevant property registration requirements. The contract typically includes comprehensive property details, purchase terms, clear assignment mechanisms, and necessary regulatory compliance provisions. It's designed to protect all parties' interests while facilitating potential future transfers, making it essential for both straightforward property purchases and more complex investment transactions in the Indonesian real estate market.

1. Parties: Identification of the seller, buyer, and any other relevant parties including their complete legal names, addresses, and registration numbers if applicable

2. Background: Context of the transaction, including brief property description and intention to create assignable rights

3. Definitions: Key terms used throughout the agreement, including property-specific terminology and assignment-related definitions

4. Property Details: Comprehensive description of the real estate, including address, certificate numbers, and land boundaries

5. Purchase Price: Agreed purchase price, payment terms, deposit requirements, and payment schedule

6. Assignment Rights: Terms and conditions for assignment, including notice requirements and any restrictions

7. Representations and Warranties: Seller's assertions about property ownership, encumbrances, and condition

8. Conditions Precedent: Requirements to be met before completion, including regulatory approvals and registration requirements

9. Completion: Process and requirements for closing the transaction, including document delivery and registration

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

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

12. Default and Termination: Consequences of breach and termination rights

13. Governing Law and Dispute Resolution: Confirmation of Indonesian law application and dispute resolution mechanisms

14. Notices: Communication procedures between parties

15. General Provisions: Standard contract clauses including severability, entire agreement, and amendments