Contract For Selling A House By Owner Template for Indonesia

The Contract For Selling A House By Owner is a crucial legal document used in Indonesia when property owners wish to sell their residential property directly to buyers without full real estate agency services. This type of agreement is governed by Indonesian law, particularly the Civil Code (KUHPerdata) and Basic Agrarian Law No. 5 of 1960, and must be executed before a licensed land deed official (PPAT). The document is designed to protect both parties' interests while ensuring compliance with local property transfer regulations, tax requirements, and land registration procedures. It includes comprehensive details about the property, payment terms, warranties, and specific conditions of sale, making it suitable for private property transactions where owners handle the majority of the sale process directly.

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

2. Background: Context of the sale, including brief history of ownership and confirmation of seller's right to sell

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

4. Property Details: Complete description of the property including land certificate number, address, boundaries, and built-up area

5. Purchase Price: Agreed purchase price and payment structure, including deposit arrangements

6. Payment Terms: Detailed payment schedule, method of payment, and consequences of payment default

7. Transfer of Title: Process and requirements for legal transfer of property ownership

8. Seller's Representations and Warranties: Seller's guarantees regarding property ownership, condition, and absence of disputes

9. Buyer's Representations and Warranties: Buyer's confirmations regarding financial capacity and compliance with property ownership regulations

10. Completion Requirements: Conditions to be met before completion, including documentation and regulatory requirements

11. Tax Obligations: Allocation of tax responsibilities between parties, including transfer tax and duties

12. Risk and Insurance: Transfer of risk and insurance responsibilities

13. Default and Termination: Consequences of breach and conditions for contract termination

14. Governing Law: Confirmation of Indonesian law application and jurisdiction

15. Dispute Resolution: Process for resolving disputes, including choice of forum

16. Notices: Method and addresses for formal communications between parties

17. Execution: Signature requirements and execution formalities