Land Sales Contract (Real Estate) Template for Saudi Arabia

The Land Sales Contract (Real Estate) is a fundamental legal document used in Saudi Arabia for transferring ownership of real estate property from seller to buyer. This document is essential for any real estate transaction in Saudi Arabia, whether between individuals, corporate entities, or a combination of both. It must comply with both Saudi civil law and Sharia principles, incorporating specific requirements for property registration, transfer procedures, and payment terms. The contract is typically used when conducting property sales in Saudi Arabia and must be executed before a notary public and registered with relevant authorities. It includes crucial details such as property specifications, payment terms, warranties, and regulatory compliance requirements, while ensuring adherence to local municipality regulations and foreign ownership restrictions where applicable.

1. Parties: Identification of the seller and buyer, including full legal names, addresses, and official identification numbers

2. Background: Context of the transaction and brief description of the property being sold

3. Definitions: Key terms used throughout the agreement, including technical and legal terminology

4. Property Details: Comprehensive description of the property, including exact location, boundaries, and title deed details

5. Purchase Price: Statement of the agreed purchase price and payment terms, including deposit requirements

6. Payment Terms: Detailed breakdown of payment schedule, method of payment, and currency

7. Title and Ownership: Confirmation of seller's ownership and right to sell, warranties regarding clear title

8. Completion: Process and requirements for completing the sale, including registration requirements

9. Seller's Obligations: List of seller's commitments and responsibilities up to completion

10. Buyer's Obligations: List of buyer's commitments and responsibilities up to completion

11. Property Condition: Statement about the condition in which the property is being sold

12. Registration and Transfer: Process for official registration and transfer of title

13. Representations and Warranties: Standard warranties from both parties regarding capacity and authority

14. Default and Remedies: Consequences of breach and available remedies

15. Governing Law: Confirmation of Saudi law and Sharia principles as governing law

16. Execution: Signature blocks and execution requirements