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Absolute Deed Of Sale Of Motor Vehicle

Absolute Deed Of Sale Of Motor Vehicle Template for Saudi Arabia

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Key Requirements PROMPT example:

Absolute Deed Of Sale Of Motor Vehicle

"I need an Absolute Deed of Sale of Motor Vehicle for transferring ownership of my Toyota Land Cruiser 2022 to a corporate buyer in Riyadh, with payment to be made in three installments between January and March 2025, including comprehensive warranties about the vehicle's condition."

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Document background
The Absolute Deed Of Sale Of Motor Vehicle is a crucial legal document used in Saudi Arabia for transferring vehicle ownership between parties. It serves as definitive proof of the sale transaction and is required by the Saudi Traffic Department (Muroor) for official registration transfer. This document is essential for both private and commercial vehicle sales, ensuring compliance with Saudi Arabian traffic laws and Sharia principles. It includes comprehensive details about the vehicle, parties involved, and transaction terms, while incorporating necessary warranties and declarations. The deed is particularly important as it provides legal protection for both parties and facilitates smooth ownership transfer in accordance with local regulations. It can be used for various types of motor vehicles, from personal cars to commercial vehicles, and is recognized by all relevant authorities in Saudi Arabia.
Suggested Sections

1. Parties: Identification of the seller and buyer with complete details including full legal names, ID numbers, addresses, and contact information as required by Saudi regulations

2. Background: Brief context of the sale transaction and confirmation that the seller is the legitimate owner of the vehicle

3. Definitions: Key terms used in the deed including 'Vehicle', 'Purchase Price', 'Transfer Date', and other relevant terms

4. Vehicle Details: Comprehensive description of the vehicle including make, model, year, color, chassis number, engine number, and registration details

5. Sale and Purchase: Clear statement of the absolute and irrevocable sale of the vehicle from seller to buyer

6. Purchase Price: Agreed purchase price, payment terms, and confirmation of receipt

7. Seller's Warranties: Warranties regarding vehicle ownership, absence of liens or encumbrances, and condition of the vehicle

8. Transfer of Ownership: Process and obligations for transferring vehicle ownership through the Saudi Traffic Department

9. Tax Obligations: Statement regarding VAT and other applicable taxes, including responsibility for payment

10. Governing Law: Confirmation that the deed is governed by Saudi Arabian law and Sharia principles

11. Execution: Signature section including date and place of signing, with space for witnesses as required by Saudi law

Optional Sections

1. Vehicle Condition Disclosure: Detailed disclosure of known defects or damage, used when selling used vehicles or vehicles with existing issues

2. Payment Installments: Schedule of payments when the purchase price is to be paid in installments rather than as a lump sum

3. Special Conditions: Any specific conditions agreed between the parties that deviate from standard terms

4. Insurance Transfer: Provisions regarding the transfer or termination of existing insurance policies

5. Dispute Resolution: Specific procedures for resolving disputes, used when parties want to specify a particular approach beyond standard legal procedures

Suggested Schedules

1. Schedule 1 - Vehicle Inspection Report: Detailed technical inspection report of the vehicle's condition at the time of sale

2. Schedule 2 - Vehicle History: Documentation of the vehicle's maintenance history, previous accidents, and repairs

3. Schedule 3 - Vehicle Registration Documents: Copies of current registration cards and other official documentation

4. Schedule 4 - Payment Records: Records of payment transactions and receipts

5. Appendix A - Photographs: Dated photographs of the vehicle showing its condition at the time of sale

6. Appendix B - Additional Documentation: Any supplementary documents such as warranty certificates or service records

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
Seller
Buyer
Vehicle
Purchase Price
Completion Date
Transfer Date
Registration Documents
Saudi Traffic Department
Vehicle Documentation
Effective Date
Encumbrances
Insurance Policy
Muroor
Payment Terms
Purchase Tax
Registration Card
Saudi Arabian Territory
Title Documents
Transfer Procedures
VAT
Vehicle Condition Report
Vehicle History
Vehicle Identification Number
Vehicle License
Vehicle Registration Number
Warranties
Governing Law
Business Day
Force Majeure
Liabilities
Parties
Signing Date
Technical Inspection
Third Party
Relevant Industries

Automotive

Transportation

Fleet Management

Vehicle Leasing

Car Dealership

Insurance

Logistics

Corporate Transportation

Vehicle Rental

Public Transportation

Relevant Teams

Legal

Procurement

Fleet Management

Operations

Sales

Compliance

Risk Management

Corporate Services

Documentation

Asset Management

Relevant Roles

Fleet Manager

Procurement Manager

Sales Manager

Legal Counsel

Compliance Officer

Vehicle Administrator

Operations Manager

Transport Manager

Contract Administrator

Risk Manager

Corporate Services Manager

Asset Manager

Logistics Coordinator

Vehicle Sales Representative

Documentation Specialist

Industries
Saudi Traffic Law (Royal Decree No. M/85): Governs vehicle registration, transfer of ownership, and general traffic regulations in Saudi Arabia. This is fundamental for ensuring the vehicle transfer complies with national transportation laws.
Saudi Arabian Commercial Law: Provides the general framework for commercial transactions and sales in Saudi Arabia, including requirements for valid sales contracts.
Consumer Protection Law (Royal Decree No. M/75): Ensures consumer rights are protected in vehicle sales transactions and mandates certain disclosures about the vehicle's condition.
Anti-Concealment Law: Requires transparency in commercial transactions and prevents fraudulent sales, particularly relevant for disclosing vehicle history and condition.
Value Added Tax (VAT) Law: Governs the tax implications of vehicle sales transactions, including the current 15% VAT rate applicable to vehicle sales in Saudi Arabia.
Islamic Law (Sharia) Principles on Sales (Bay'): Provides fundamental principles for sales contracts under Islamic law, including requirements for valid sales transactions and prohibited practices.
Documentation Requirements by Saudi Traffic Department (Muroor): Specifies the official documentation required for transferring vehicle ownership, including forms, identification requirements, and procedural steps.
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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