Conditional Land Sale Agreement Template for Indonesia

The Conditional Land Sale Agreement is a crucial document used in Indonesian real estate transactions where the sale of land is contingent upon fulfilling certain conditions before the transfer of ownership can be completed. This agreement is particularly relevant when dealing with property transactions that require regulatory approvals, zoning changes, or specific development conditions. The document must comply with Indonesian property law, including the Basic Agrarian Law (UUPA), land registration regulations, and spatial planning requirements. It typically includes detailed provisions about the property, payment terms, conditions precedent, due diligence requirements, and completion procedures. This type of agreement is commonly used in commercial property transactions, development projects, and situations where regulatory or financial conditions need to be met before the sale can be finalized.

1. Parties: Identification of seller and purchaser with complete legal details including ID/company registration numbers

2. Background: Context of the transaction, brief description of the property, and general intent of the parties

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

4. Property Description: Detailed description of the land, including certificate number, boundaries, and current land use status

5. Purchase Price: Agreed purchase price, payment structure, and payment mechanisms

6. Conditions Precedent: Conditions that must be fulfilled before the sale becomes binding, including legal and technical requirements

7. Due Diligence: Buyer's rights and process for conducting property investigation and verification

8. Seller's Warranties: Warranties regarding property ownership, encumbrances, and compliance with laws

9. Completion Requirements: Steps required for closing the transaction and transferring ownership

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

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

12. Default and Termination: Consequences of breach and circumstances allowing termination

13. Dispute Resolution: Mechanism for resolving disputes, including jurisdiction and governing law

14. Notices: Process for formal communications between parties

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