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Real Estate Purchase Contract
"I need a Real Estate Purchase Contract under Indonesian law for a residential property in Jakarta, with standard payment terms and completion scheduled for March 2025; the property is currently occupied by tenants who will vacate before the completion date."
1. Parties: Identification of the seller and purchaser with complete details as required under Indonesian law
2. Background: Context of the transaction and brief description of the property being sold
3. Definitions: Key terms used throughout the agreement, including Indonesian legal terms
4. Property Details: Comprehensive description of the property, including certificate number, land area, and building specifications
5. Purchase Price: Agreed purchase price, payment terms, and schedule of payments
6. Payment Method: Specified method of payment and bank account details
7. Conditions Precedent: Prerequisites that must be fulfilled before completion
8. Seller's Representations and Warranties: Seller's declarations regarding property ownership, encumbrances, and legal status
9. Buyer's Representations and Warranties: Buyer's declarations regarding legal capacity and financial ability
10. Completion Requirements: Documentation and procedures required for legal transfer of property
11. Transfer of Title: Process and requirements for transferring property rights
12. Taxes and Costs: Allocation of transaction taxes, fees, and other costs
13. Default and Remedies: Consequences of breach and available remedies
14. Governing Law: Confirmation of Indonesian law application and jurisdiction
15. Dispute Resolution: Procedure for resolving disputes, including choice of forum
16. Notices: Communication methods and addresses for formal notices
17. Execution: Signing requirements and witness provisions
1. Mortgage Financing: Include when buyer is obtaining bank financing, detailing conditions and requirements
2. Foreign Ownership Provisions: Required when buyer is a foreign national, including specific restrictions and requirements
3. Property Management Handover: Include for properties within managed complexes or apartments
4. Construction Completion: Required for off-plan purchases or properties under construction
5. Tenant Provisions: Include if property is currently leased to tenants
6. Strata Title Provisions: Required for apartment or condominium purchases
7. Environmental Conditions: Include if property requires environmental clearance or has specific environmental obligations
8. Agent Commission: Include if real estate agents are involved in the transaction
1. Property Description Schedule: Detailed technical description of land and buildings, including certificates and permits
2. Payment Schedule: Detailed breakdown of payment installments and due dates
3. Land Certificate Details: Copy and details of land certificate and ownership history
4. Property Tax Records: History of property tax payments and outstanding obligations
5. Building Permits: Copies of relevant building permits and certificates
6. Site Plan: Official site plan and property boundaries
7. Inventory List: List of fixtures and fittings included in the sale
8. Due Diligence Results: Summary of legal and technical due diligence findings
9. Required Governmental Approvals: List and copies of required governmental approvals for transfer
Authors
Akta Jual Beli
Building
Building Rights (Hak Guna Bangunan)
Business Day
Buyer
Certificate of Title
Completion Date
Completion
Conditions Precedent
Deposit
Effective Date
Encumbrances
Force Majeure
Freehold Title (Hak Milik)
IMB (Building Permit)
Land
Land and Building Tax (PBB)
Land Certificate
Land Deed Official (PPAT)
Land Office (BPN)
Legal Requirements
National Land Agency
Notarial Deed
Notices
Parties
Payment Schedule
Permitted Use
PPJB (Preliminary Purchase Agreement)
Property
Purchase Price
Right to Build
Right to Use (Hak Pakai)
Seller
Settlement Date
SHM (Sertifikat Hak Milik)
Site Plan
Strata Title
Tax Assessment
Title Deed
Transfer Duty (BPHTB)
Transfer of Title
Warranties
Sale and Purchase
Property Description
Title and Ownership
Purchase Price
Payment Terms
Conditions Precedent
Due Diligence
Seller's Representations and Warranties
Buyer's Representations and Warranties
Property Transfer
Registration Requirements
Tax Obligations
Insurance
Risk and Possession
Certificates and Permits
Environmental Compliance
Property Inspection
Building Condition
Utilities and Services
Default
Termination
Force Majeure
Assignment
Notices
Costs and Expenses
Governing Law
Dispute Resolution
Severability
Entire Agreement
Amendment
Language
Counterparts
Confidentiality
Further Assurance
Time of Essence
Regulatory Compliance
Foreign Ownership
Land Use
Indemnification
Real Estate
Property Development
Construction
Banking & Finance
Legal Services
Hospitality
Retail
Commercial Property
Residential Property
Industrial Property
Agriculture (for land purchases)
Tourism
Legal
Real Estate
Compliance
Finance
Risk Management
Property Management
Asset Management
Investment
Operations
Corporate Affairs
Facilities Management
Business Development
Real Estate Manager
Property Development Manager
Legal Counsel
Compliance Officer
Real Estate Agent
Property Broker
Corporate Lawyer
Notary Public
Land Registration Officer
Property Appraiser
Real Estate Investment Manager
Facilities Manager
Asset Manager
Real Estate Director
Chief Financial Officer
Risk Manager
Property Portfolio Manager
Real Estate Analyst
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