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Co Ownership Deed

Co Ownership Deed Template for Indonesia

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Key Requirements PROMPT example:

Co Ownership Deed

"I need a Co-Ownership Deed for a commercial building in Jakarta to be jointly owned by three corporate entities, with specific provisions for income distribution from rental proceeds and a professional property management arrangement to begin from March 2025."

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Document background
A Co-Ownership Deed is essential when multiple parties wish to establish joint ownership of property in Indonesia. This document is commonly used in various scenarios, including family property arrangements, business partnerships, or investment collaborations. The deed must comply with Indonesian property law, particularly the Basic Agrarian Law (UUPA) and the Civil Code (KUHPerdata). It details crucial aspects such as ownership percentages, management rights, financial obligations, and transfer restrictions. The document requires execution before a Land Deed Official (PPAT) and subsequent registration with the National Land Agency (BPN). It serves as the foundational document governing the relationship between co-owners and provides legal protection for all parties involved in the property ownership arrangement.
Suggested Sections

1. Parties: Identification and details of all co-owners, including their full legal names, addresses, and citizenship status

2. Background: Context of the co-ownership arrangement, including how the property was acquired and the purpose of the co-ownership

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

4. Property Details: Comprehensive description of the property, including legal title details, certificate numbers, and location

5. Ownership Shares: Specification of each owner's percentage share in the property

6. Rights and Obligations: Detailed outline of each co-owner's rights and responsibilities regarding the property

7. Property Management: Procedures for making decisions about property management, maintenance, and improvements

8. Financial Obligations: Distribution of costs, expenses, and liabilities related to the property

9. Transfer of Interest: Rules and procedures for selling, transferring, or encumbering ownership shares

10. Dispute Resolution: Procedures for resolving conflicts between co-owners

11. Termination: Conditions and procedures for terminating the co-ownership arrangement

12. Governing Law: Specification of Indonesian law as the governing law and relevant jurisdictional matters

13. Execution: Formal execution clause and signature blocks for all parties

Optional Sections

1. Right of First Refusal: Provisions giving existing co-owners the first right to purchase when one owner wishes to sell their share

2. Property Usage Schedule: Used when co-owners agree to specific time allocations for property usage

3. Property Development: Include when there are plans for future development or major modifications to the property

4. Income Distribution: Required when the property generates rental or other income

5. Insurance Requirements: Detailed insurance obligations when specific coverage is required

6. Property Manager Appointment: Include when a third-party property manager will be appointed

7. Mortgage Provisions: Required when the property is or will be subject to a mortgage

8. Survivorship Rights: Include when co-owners want to specify rights of surviving owners in case of death

Suggested Schedules

1. Property Title Documents: Copies of official property certificates and registration documents

2. Property Description: Detailed technical description of the property, including boundaries, measurements, and maps

3. Ownership Structure: Detailed breakdown of ownership percentages and contributions

4. Financial Contributions: Record of initial and ongoing financial contributions by each co-owner

5. Maintenance Schedule: Planned maintenance activities and associated responsibilities

6. Property Rules and Regulations: Specific rules governing the use and management of the property

7. Contact Information: Complete contact details for all co-owners and relevant third parties

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
Co-owners
Ownership Share
Common Areas
Exclusive Use Areas
Land Deed Official (PPAT)
National Land Agency (BPN)
Property Rights Certificate (SHM)
Building Rights Certificate (HGB)
Management Costs
Operating Expenses
Maintenance Charges
Transfer of Interest
Encumbrance
Property Manager
Major Decision
Permitted Use
Business Day
Effective Date
Initial Contribution
Governing Law
Force Majeure
Common Property
Improvements
Mortgage
Right of First Refusal
Special Resolution
Dispute
Property Rules
Management Committee
Maintenance Schedule
Insurance Coverage
Default Event
Voting Rights
Registration Requirements
Transfer Deed
Shared Facilities
Operating Budget
Clauses
Recitals
Definitions
Property Description
Ownership Rights
Title Registration
Management Rights
Decision Making
Financial Obligations
Cost Sharing
Property Usage
Maintenance and Repairs
Insurance
Transfer Restrictions
Right of First Refusal
Mortgage and Encumbrances
Default Provisions
Dispute Resolution
Force Majeure
Property Rules
Voting Rights
Meetings and Notices
Record Keeping
Income Distribution
Tax Obligations
Property Manager Appointment
Alterations and Improvements
Access Rights
Common Areas
Termination
Severability
Governing Law
Entire Agreement
Amendment
Notices
Assignment
Indemnification
Compliance with Laws
Execution
Relevant Industries

Real Estate

Agriculture

Commercial Property

Residential Property

Industrial

Hospitality

Retail

Mining

Infrastructure

Tourism

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Risk Management

Corporate Services

Administrative Services

Investment

Asset Management

Operations

Relevant Roles

Property Lawyer

Real Estate Manager

Legal Counsel

Property Developer

Asset Manager

Investment Manager

Corporate Secretary

Compliance Officer

Land Deed Official

Property Rights Specialist

Real Estate Agent

Property Administrator

Legal Administrator

Risk Manager

Industries
Indonesian Civil Code (KUHPerdata): The fundamental legal framework governing contracts, property rights, and ownership in Indonesia, particularly Book II on Property and Book III on Contracts
Basic Agrarian Law No. 5 of 1960 (UUPA): Fundamental law governing land rights and ownership in Indonesia, including provisions for joint ownership and land registration
Government Regulation No. 24 of 1997: Regulations on Land Registration, including requirements for registering co-owned properties and documentation requirements
Law No. 20 of 2011: Law on Apartments/Strata Title, relevant for co-ownership of multi-unit buildings and shared facilities
Minister of Agrarian Affairs Regulation No. 3 of 1997: Implementing regulations for property registration, including specific provisions for co-ownership arrangements
Law No. 30 of 1999: Law on Arbitration and Alternative Dispute Resolution, important for including dispute resolution mechanisms in co-ownership agreements
Government Regulation No. 37 of 1998: Regulation on Land Deed Officials (PPAT), governing the authority and responsibilities of officials who can prepare property deeds
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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