The Deed of Sale of Property is a fundamental legal instrument in Saudi Arabian real estate transactions, used to formalize and document the transfer of property ownership. This document is essential for any property sale transaction in Saudi Arabia, whether residential, commercial, or industrial. It must be drafted in compliance with the Kingdom's Real Estate Registration Law, other relevant regulations, and Sharia Law principles. The deed includes crucial information such as property details, party information, purchase price, and transfer terms. It requires official notarization and registration with relevant authorities, including the Property Registration Office. This document type is particularly important as it serves as the official record of property transfer and must meet strict regulatory requirements to be legally valid in Saudi Arabia.
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1. Parties: Identification of the Seller and Buyer with full legal names, national ID numbers/CR numbers for companies, and contact details as required by Saudi law
2. Background: Context of the sale, including current ownership status and any relevant historical information about the property
3. Definitions: Key terms used throughout the deed, including property-specific terminology and legal terms
4. Property Details: Comprehensive description of the property including location, boundaries, dimensions, and title deed number as per Saudi Land Registry
5. Sale and Purchase: Core terms of the sale including the explicit offer and acceptance (Ijab and Qabul) as required under Sharia Law
6. Purchase Price: Statement of the agreed purchase price, payment terms, and method of payment
7. Completion: Details of the completion process, including registration requirements and transfer procedures
8. Seller's Warranties: Warranties regarding ownership, absence of encumbrances, and compliance with Sharia principles
9. Property Handover: Terms for physical possession transfer and handling of utilities and services
10. Registration and Documentation: Requirements for official registration and documentation as per Saudi Real Estate Registration Law
11. Governing Law and Jurisdiction: Confirmation of Saudi law application and jurisdiction of Saudi courts
1. Foreign Ownership Compliance: Required when buyer is non-Saudi, detailing compliance with foreign ownership regulations
2. Multiple Ownership Provisions: Required when property has multiple sellers or buyers, detailing shares and responsibilities
3. Condition Precedents: Used when completion is subject to specific conditions such as regulatory approvals
4. Mortgage Release: Required when property has existing mortgage that needs to be discharged
5. Development Obligations: Required for undeveloped land with specific development requirements
6. Zoning Compliance: Required when property use is subject to specific zoning requirements
7. Tenant Provisions: Required when property is sold with existing tenants
1. Property Description Schedule: Detailed technical description of the property including plans, dimensions, and boundaries
2. Title Documents: Copies of original title deed and other ownership documents
3. Property Plans and Drawings: Official property plans, approved drawings, and maps
4. Inventory Schedule: List of fixtures, fittings, and any other items included in the sale
5. Payment Schedule: Detailed breakdown of payment terms and installments if applicable
6. Due Diligence Documents: Relevant permits, certificates, and compliance documents
7. Municipality Certificates: Required municipal approvals and certificates
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