Contract For Deed Amortization Schedule Template for Indonesia

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Key Requirements PROMPT example:

Contract For Deed Amortization Schedule

"I need a Contract for Deed Amortization Schedule for a residential property in Jakarta, with a purchase price of 2.5 billion IDR, 20% down payment, and monthly installments over 5 years starting March 2025."

Document background
The Contract For Deed Amortization Schedule is a crucial document in Indonesian property transactions where buyers cannot or prefer not to obtain traditional mortgage financing. This document is commonly used in both residential and commercial property transactions, providing a structured payment plan that protects both seller and buyer interests. It details the complete amortization schedule, including principal and interest calculations, payment dates, and running balances, all in compliance with Indonesian property law and financial regulations. The document is particularly important as it serves as both a legal contract and a financial tracking tool, ensuring transparency in the property purchase process while adhering to local property transfer requirements and Basic Agrarian Law provisions.
Suggested Sections

1. Parties: Identification of the seller (vendor) and buyer (vendee), including their complete legal names, addresses, and any relevant registration numbers

2. Background: Context of the agreement, including brief property description and parties' intention to enter into a contract for deed arrangement

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

4. Property Description: Detailed legal description of the property, including certificate numbers, boundaries, and registered encumbrances

5. Purchase Price and Payment Terms: Total purchase price, down payment details, and general terms of the amortization arrangement

6. Amortization Structure: Specific details about payment frequency, interest rate, and term length

7. Default and Remedies: Consequences of payment default and available remedies for both parties

8. Property Maintenance and Responsibilities: Obligations of both parties regarding property maintenance during the payment period

9. Insurance and Taxes: Requirements for property insurance and responsibility for property taxes during the contract period

10. Transfer of Title: Conditions and process for final transfer of property title upon completion of payments

11. Governing Law: Specification of Indonesian law as governing law and relevant jurisdictional details

12. Execution: Signature blocks and notarization requirements

Optional Sections

1. Early Payment Provisions: Terms for early payment or full settlement of the remaining balance, used when parties want to allow for potential early completion

2. Property Use Restrictions: Specific restrictions on property use during the payment period, included when the property has special zoning or usage requirements

3. Third-Party Rights: Provisions regarding rights of third parties, included when there are existing tenants or other rights holders

4. Assignment Rights: Terms for transferring rights under the contract, included when parties want to allow for potential transfer of obligations

5. Death or Incapacity Provisions: Procedures in case of death or incapacity of either party, included for longer-term contracts

6. Dispute Resolution: Specific procedures for resolving disputes, included when parties prefer alternative dispute resolution methods

Suggested Schedules

1. Schedule A - Amortization Table: Detailed monthly payment schedule showing principal, interest, and balance for each payment

2. Schedule B - Property Documentation: Copies of property certificates, land registration details, and relevant property documentation

3. Schedule C - Payment Requirements: Specific payment procedures, acceptable payment methods, and banking details

4. Appendix 1 - Property Photos and Plans: Current photographs of the property and any relevant architectural or land plans

5. Appendix 2 - Property Inspection Report: Initial condition report of the property at the time of contract execution

6. Appendix 3 - Tax Certificates: Current tax certificates and payment status for the property

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

Relevant Industries

Real Estate

Banking & Finance

Legal Services

Property Development

Construction

Property Management

Residential Housing

Commercial Property

Agricultural Land

Relevant Teams

Legal

Real Estate

Finance

Property Management

Sales

Compliance

Contract Administration

Document Processing

Property Development

Relevant Roles

Real Estate Attorney

Property Lawyer

Financial Controller

Real Estate Agent

Property Manager

Legal Counsel

Notary Public

Land Deed Official

Finance Manager

Real Estate Development Manager

Contract Administrator

Property Sales Manager

Mortgage Specialist

Real Estate Transaction Coordinator

Legal Document Specialist

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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