Joint Ownership Contract Template for Saudi Arabia

1. Property Management Committee: Required for complex properties with multiple owners, establishing a formal management structure

2. Insurance: Include when specific insurance requirements need to be allocated between owners

3. Third Party Rights: Necessary when external parties have interests or rights in the property

4. Mortgage Provisions: Required when the property has existing or potential mortgage arrangements

5. Development Rights: Include for properties with potential for development or modification

6. Zakat Provisions: Include specific provisions for handling Islamic tax obligations

7. Succession Planning: Include when owners want to address inheritance issues in accordance with Islamic law

1. Schedule 1 - Property Details: Detailed description of the jointly owned property or assets

2. Schedule 2 - Ownership Percentages: Detailed breakdown of ownership shares and calculations

3. Schedule 3 - Initial Contributions: Record of initial financial or asset contributions by each party

4. Schedule 4 - Management Procedures: Detailed procedures for day-to-day management and decision-making

5. Schedule 5 - Valuation Report: Independent valuation of the property or assets

6. Appendix A - Required Permits: Copies of relevant permits and government approvals

7. Appendix B - Property Documents: Copies of title deeds and other property documentation

8. Appendix C - Shariah Compliance Certificate: Documentation confirming compliance with Islamic principles