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Deed Of Redemption
"I need a Deed of Redemption for a commercial property in Riyadh valued at 5 million SAR, with redemption to be completed through three installment payments starting March 2025, ensuring compliance with Islamic finance principles."
1. Parties: Identification of the Mortgagor (original property owner) and Mortgagee (current property holder), including full legal names and contact details
2. Background: Historical context of the original mortgage transaction, reference to original agreements, and current status
3. Definitions: Key terms used throughout the deed, including Property, Redemption Amount, Completion Date, and other relevant terminology
4. Property Details: Comprehensive description of the property being redeemed, including title deed numbers and registration details
5. Redemption Terms: Specific terms of redemption, including amount, payment method, and completion timeline
6. Completion Requirements: Steps required for completing the redemption process, including documentation and registration requirements
7. Representations and Warranties: Statements and guarantees from both parties regarding their authority, property status, and compliance with Sharia principles
8. Handover Provisions: Terms governing the physical handover of the property and related documentation
9. Governing Law and Jurisdiction: Confirmation of Saudi law application and relevant court jurisdiction
10. Execution: Formal execution block complying with Saudi legal requirements
1. Third Party Rights: Required when other parties have interests in the property or redemption process
2. Islamic Finance Compliance Declaration: Detailed section confirming Sharia compliance, required when the original transaction involved Islamic financing
3. Power of Attorney: Needed when any party is acting through an authorized representative
4. Conditions Precedent: Include when specific conditions must be met before redemption can proceed
5. Tax Provisions: Required when there are specific tax implications or requirements for the redemption
6. Dispute Resolution: Optional detailed alternative dispute resolution procedures beyond standard court jurisdiction
1. Property Description Schedule: Detailed technical description of the property, including boundaries, plans, and specifications
2. Title Documents: Copies of relevant title deeds and registration certificates
3. Payment Schedule: If redemption involves multiple payments, detailed payment terms and dates
4. Original Mortgage Agreement: Copy of the original mortgage agreement and related documents
5. Property Inspection Report: Current condition report of the property if required for handover
6. Required Governmental Approvals: List and copies of necessary governmental or regulatory approvals
Authors
Completion Requirements
Deed
Effective Date
Encumbrance
Handover Date
Islamic Finance Requirements
Land Registration Office
Mortgage
Mortgagee
Mortgagor
Original Mortgage Agreement
Party/Parties
Payment Terms
Property
Property Documents
Rahn
Redemption Amount
Redemption Notice
Redemption Period
Registration Requirements
Relevant Authority
Required Approvals
Saudi Law
Sharia Principles
Title Deed
Transfer Documents
Working Day
Redemption Terms
Payment Obligations
Completion Requirements
Property Transfer
Representations and Warranties
Sharia Compliance
Title and Ownership
Handover Provisions
Registration Requirements
Regulatory Compliance
Conditions Precedent
Further Assurance
Notices
Costs and Expenses
Governing Law
Dispute Resolution
Force Majeure
Severability
Entire Agreement
Amendments
Assignment
Third Party Rights
Counterparts
Legal Capacity
Authority
Real Estate
Banking & Finance
Islamic Finance
Legal Services
Property Development
Construction
Housing & Residential Development
Commercial Property
Legal
Real Estate
Compliance
Islamic Finance
Property Management
Documentation
Risk Management
Corporate Affairs
Legal Counsel
Property Lawyer
Real Estate Manager
Islamic Finance Advisor
Compliance Officer
Property Rights Registrar
Real Estate Director
Mortgage Officer
Sharia Compliance Manager
Property Transaction Manager
Contract Administrator
Legal Documentation Specialist
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