The Deed of Sale Condominium is a crucial legal instrument in Indonesian property transactions, used specifically for transferring ownership rights of condominium units. This document is required whenever there is a sale and purchase of a condominium unit in Indonesia, whether for residential or commercial purposes. It must comply with various regulations, including Law No. 20 of 2011 on Condominiums, the Indonesian Civil Code, and local property regulations. The deed contains essential information about the property, parties involved, transaction terms, and legal requirements. It must be drafted and executed by a licensed Indonesian Notary Public, who ensures all legal requirements are met and the transfer is properly registered with relevant authorities. The document serves as definitive proof of ownership transfer and protects both parties' interests in the transaction.
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1. Parties: Identification of the Seller and Buyer with complete legal names, addresses, and identification numbers as required by Indonesian law
2. Background: Brief context of the transaction, including the Seller's current ownership status and intention to sell
3. Definitions: Key terms used throughout the deed, including property-specific terminology and legal terms
4. Property Description: Detailed description of the condominium unit, including unit number, floor, building name, certificate numbers, and measurements
5. Price and Payment Terms: Purchase price, payment method, and schedule of payments
6. Transfer of Rights: Legal provisions regarding the transfer of ownership rights from Seller to Buyer
7. Representations and Warranties: Seller's declarations regarding property ownership, absence of disputes, and other material facts
8. Handover Terms: Conditions and timing for physical handover of the property
9. Tax Obligations: Allocation of tax responsibilities between parties (including transfer tax and duty)
10. Registration and Administration: Procedures for legal registration of the property transfer
11. Governing Law: Confirmation of Indonesian law as governing law and jurisdiction
12. Closing Provisions: Formal closing statements required under Indonesian notarial law
1. Mortgage Release: Required if the property has an existing mortgage that needs to be discharged
2. Power of Attorney: Included when either party is represented by an authorized representative
3. Condition Precedents: Specific conditions that must be met before the transfer can be completed
4. Broker Provisions: Required if a property broker is involved in the transaction
5. Building Management Provisions: Special terms relating to building management transfer and obligations
6. Renovation Agreement: Included if there are agreed renovations to be completed before or after transfer
1. Property Title Documents: Copies of ownership certificates and property registration details
2. Floor Plan: Detailed floor plan of the condominium unit with measurements
3. Payment Schedule: Detailed breakdown of payment installments if applicable
4. Inventory List: List of fixtures, fittings, and furniture included in the sale
5. Building Rules and Regulations: Copy of condominium building rules and regulations
6. Property Tax Records: Recent property tax payments and outstanding amounts
7. Building Management Agreement: Terms of building management and maintenance fees
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