Bargain Sale Deed Template for Saudi Arabia

The Bargain Sale Deed is a fundamental legal instrument in Saudi Arabian property transactions, used when transferring ownership of real property between parties for valuable consideration. This document is essential in both residential and commercial property transactions within Saudi Arabia, requiring compliance with both civil law requirements and Sharia principles. It must be prepared with careful attention to detail, including accurate property descriptions, clear terms of sale, and proper authentication. The deed becomes legally binding upon registration with the appropriate authorities and serves as the official record of property ownership transfer. It's particularly important to note that the document must conform to the Real Estate Registration Law of Saudi Arabia and include specific elements required by local municipalities and registration authorities.

1. Parties: Identification of the Seller and Buyer with full legal names, addresses, and national ID/commercial registration numbers

2. Background: Brief context of the sale transaction and confirmation that the Seller is the legal owner of the property

3. Definitions: Key terms used throughout the deed including Property, Purchase Price, Completion Date, and other relevant terms

4. Property Description: Detailed description of the property including exact location, boundaries, dimensions, and deed number

5. Consideration: Purchase price and payment terms, including confirmation of receipt if fully paid

6. Transfer of Ownership: Clear statement of transfer of title and ownership from Seller to Buyer

7. Seller's Warranties: Warranties regarding property ownership, absence of encumbrances, and authority to sell

8. Property Condition: Statement regarding the condition in which the property is being sold

9. Registration and Transfer: Procedures for official registration and transfer of the property

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

11. Execution: Signature blocks for parties and witnesses as required by Saudi law