Car Ownership Agreement Template for Indonesia

The Car Ownership Agreement serves as a legally binding document under Indonesian law that facilitates and records the transfer of vehicle ownership between parties. This document is essential for both private and commercial vehicle transfers, ensuring compliance with Law No. 22 of 2009 on Traffic and Road Transportation and related regulations. It should be used whenever a vehicle ownership transfer occurs, whether between individuals, corporate entities, or a combination thereof. The agreement includes crucial details such as vehicle specifications, ownership history, payment terms, and transfer conditions, while also addressing tax obligations and registration requirements. It provides protection for both parties by clearly documenting the transaction terms and ensuring compliance with local legal requirements for vehicle ownership transfer.

1. Parties: Identification of the seller and buyer, including full legal names, addresses, and identification numbers as required by Indonesian law

2. Background: Context of the transaction, including brief history of the vehicle ownership and purpose of the transfer

3. Definitions: Key terms used throughout the agreement, including technical and legal terminology

4. Vehicle Details: Comprehensive description of the vehicle including make, model, year, color, engine number, chassis number, and license plate number

5. Purchase Price and Payment: Details of the agreed purchase price, payment terms, and method of payment

6. Transfer of Ownership: Terms and process of transferring legal ownership, including registration requirements and documentation

7. Seller's Representations and Warranties: Seller's declarations regarding vehicle condition, ownership status, and absence of encumbrances

8. Buyer's Acknowledgments: Buyer's confirmation of vehicle inspection and acceptance of condition

9. Registration and Taxes: Responsibilities for vehicle registration transfer and payment of associated taxes

10. Risk and Insurance: Transfer of risk and insurance requirements

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

12. Execution: Signature blocks and execution requirements