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Land Co Ownership Agreement

Land Co Ownership Agreement Template for Indonesia

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Key Requirements PROMPT example:

Land Co Ownership Agreement

"I need a Land Co-Ownership Agreement for a beachfront property in Bali, to be jointly owned by three international investors (from Singapore, Japan, and Australia), with specific provisions for property management and tourist rental income sharing, expected to commence from March 2025."

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Document background
The Land Co-Ownership Agreement is essential when multiple parties wish to jointly own and manage land property in Indonesia. This document becomes necessary in various scenarios, including family property arrangements, joint business ventures, or investment partnerships. It must comply with Indonesian property laws, particularly the Basic Agrarian Law (UU No. 5/1960) and related regulations governing land rights and ownership. The agreement details ownership percentages, management structures, decision-making processes, financial obligations, and exit mechanisms. It's particularly important given Indonesia's specific requirements regarding land ownership, foreign investment restrictions, and property registration procedures. The document serves as a crucial framework for preventing disputes and ensuring clear understanding among co-owners regarding their rights and responsibilities.
Suggested Sections

1. Parties: Identification of all co-owners with their complete details including citizenship status (relevant for Indonesian property law)

2. Background: Context of the co-ownership arrangement, including property acquisition details and purpose of the agreement

3. Definitions: Key terms used throughout the agreement, including specific Indonesian legal terms

4. Property Details: Comprehensive description of the land, including certificate numbers, boundaries, and zoning status

5. Ownership Structure: Detailed breakdown of ownership shares and rights of each party

6. Rights and Obligations: Core responsibilities and rights of co-owners, including maintenance, tax obligations, and usage rights

7. Management and Decision Making: Procedures for property-related decisions and day-to-day management

8. Financial Obligations: Cost sharing, expense allocation, and financial responsibilities

9. Transfer and Disposal: Rules regarding sale, transfer, or encumbrance of ownership shares

10. Default and Remedies: Consequences of breach and available remedies

11. Dispute Resolution: Process for resolving disagreements between co-owners

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

13. Term and Termination: Duration of agreement and circumstances for termination

14. Miscellaneous: Standard boilerplate provisions including notices, amendments, and severability

Optional Sections

1. Property Management Company: Required when a third-party manager is appointed to handle property administration

2. Development Rights: Needed when co-owners plan future development of the land

3. Foreign Ownership Provisions: Required when any co-owner is a foreign national, addressing specific Indonesian restrictions

4. Right of First Refusal: Optional mechanism giving co-owners priority rights to purchase others' shares

5. Inheritance Provisions: Detailed succession planning for ownership shares, particularly relevant for family arrangements

6. Special Use Rights: Required when specific areas of the property are allocated for exclusive use by certain co-owners

7. Environmental Obligations: Needed for properties with specific environmental considerations or requirements

Suggested Schedules

1. Property Title Documents: Copies of land certificates and ownership documentation

2. Property Map and Plans: Detailed site plans, boundaries, and any existing structures

3. Ownership Schedule: Detailed breakdown of ownership percentages and contribution records

4. Financial Contributions Schedule: Historical and agreed future financial contributions by each party

5. Management Procedures: Detailed procedures for property management and decision-making

6. Maintenance Schedule: Regular maintenance requirements and responsibilities

7. Land Use Permits: Copies of relevant zoning and land use permissions

8. Power of Attorney: If required for property administration under Indonesian law

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
Land Certificate (Sertifikat Hak)
Co-Owners
Ownership Share
Management Committee
Common Areas
Operating Expenses
Capital Contribution
Hak Milik (Right of Ownership)
Hak Guna Bangunan (Right to Build)
Hak Pakai (Right to Use)
Transfer of Rights
Encumbrance
Property Manager
Special Resolution
Ordinary Resolution
Business Day
Effective Date
Default Event
Force Majeure
Management Rules
Maintenance Charges
Permitted Use
Related Party
BPN (National Land Agency)
PPAT (Land Deed Official)
Nominee Agreement
Governing Law
Initial Contribution
Material Change
Property Tax (PBB)
Shared Facilities
Transfer Deed
Voting Rights
Working Days
Zoning Requirements
Annual Budget
Property Value
Reserve Fund
Special Assessment
Clauses
Property Rights
Ownership Structure
Management Rights
Decision Making
Financial Obligations
Property Maintenance
Transfer Rights
Right of First Refusal
Default and Remedies
Dispute Resolution
Force Majeure
Confidentiality
Representations and Warranties
Indemnification
Insurance
Property Tax
Land Use
Regulatory Compliance
Environmental Compliance
Voting Rights
Assignment
Termination
Notices
Severability
Entire Agreement
Amendment
Governing Law
Jurisdiction
Foreign Ownership
Property Registration
Co-owner Meetings
Emergency Repairs
Capital Improvements
Exit Rights
Succession Rights
Relevant Industries

Real Estate

Property Development

Agriculture

Infrastructure

Hospitality

Industrial

Commercial Property

Retail

Mining

Tourism

Renewable Energy

Manufacturing

Relevant Teams

Legal

Real Estate

Property Management

Asset Management

Compliance

Operations

Risk Management

Corporate Affairs

Facilities Management

Business Development

Investment

Relevant Roles

Property Manager

Real Estate Director

Legal Counsel

Land Administrator

Asset Manager

Investment Manager

Corporate Secretary

Compliance Officer

Business Development Manager

Operations Director

Risk Manager

Property Development Manager

Facilities Manager

Land Registration Officer

Industries
Basic Agrarian Law (Law No. 5 of 1960): The fundamental law governing land rights in Indonesia, establishing the types of land titles and basic principles of land ownership
Indonesian Civil Code (Kitab Undang-undang Hukum Perdata): Contains provisions regarding contracts, property rights, and shared ownership arrangements
Government Regulation No. 24 of 1997: Regulates land registration procedures and requirements for property ownership documentation
Presidential Regulation No. 103 of 2015: Regulates property ownership by foreigners, including restrictions and requirements for foreign ownership of properties
Regional Spatial Planning Law (Law No. 26 of 2007): Governs spatial planning and land use restrictions that may affect property development and usage
Law No. 28 of 2002: Building Law that regulates construction and building requirements on land properties
Law No. 2 of 2012: Land Procurement Law that may affect land acquisition and development processes
Government Regulation No. 18 of 2021: Recent regulation on land registration and land affairs that updates certain aspects of property administration
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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