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Mortgage Purchase Contract
"I need a Mortgage Purchase Contract for a commercial warehouse property in Riyadh, with completion scheduled for March 2025, including specific provisions for existing tenant rights and an installment-based payment structure compliant with Islamic finance principles."
1. Parties: Identification of all parties including purchaser, seller, and any financial institution involved
2. Background: Context of the transaction and brief description of the property and purpose
3. Definitions: Key terms used throughout the agreement including property, purchase price, mortgage amount, and relevant dates
4. Property Details: Comprehensive description of the property including title details and registration information
5. Purchase Terms: Details of the purchase price, payment structure, and completion requirements
6. Mortgage Terms: Shariah-compliant financing structure, repayment terms, and profit rate
7. Conditions Precedent: Prerequisites for completion including property inspection, title verification, and regulatory approvals
8. Completion Process: Steps for transfer of property ownership and mortgage registration
9. Representations and Warranties: Statements of fact and assurances from all parties
10. Covenants: Ongoing obligations of the parties including property maintenance and insurance
11. Default Provisions: Consequences of default and enforcement procedures
12. Registration and Notices: Requirements for property and mortgage registration with relevant authorities
13. Governing Law and Jurisdiction: Confirmation of Saudi law application and dispute resolution procedures
1. Multiple Properties Schedule: Required when the purchase involves more than one property
2. Special Payment Arrangements: Used when there are installment plans or unique payment structures
3. Property Management: Included when specific management arrangements are required post-purchase
4. Additional Security: Required when additional collateral or guarantees are provided
5. Third Party Rights: Included when there are existing tenants or other third-party interests
6. Development Obligations: Required for properties under construction or requiring development
7. Shariah Board Approval: Specific terms required by Shariah supervisory board
8. Tax Provisions: Special tax considerations or arrangements if applicable
1. Property Schedule: Detailed property description, boundaries, and title information
2. Payment Schedule: Detailed breakdown of purchase price and payment installments
3. Mortgage Payment Schedule: Amortization schedule showing profit and principal payments
4. Property Condition Report: Detailed assessment of property condition at purchase
5. Required Permits: List of governmental and regulatory approvals
6. Property Documents: List of title deeds and other property-related documents
7. Form of Transfer: Template documents for property transfer registration
8. Insurance Requirements: Detailed insurance specifications and requirements
Authors
Property
Purchase Price
Completion Date
Completion
Deposit
Due Diligence Period
Effective Date
Encumbrance
Event of Default
Finance Amount
Financial Institution
Financing Documents
Governing Law
Islamic Finance Terms
Land Registry
Legal Requirements
Mortgage
Mortgagee
Mortgagor
Murabaha
Parties
Payment Schedule
Permits
Profit Rate
Property Documents
Purchase Contract
Purchaser
Registration Fee
Regulatory Approvals
Related Rights
Relevant Authority
Required Insurances
SAMA
Seller
Shariah Principles
Signing Date
Title Deed
Transfer Date
Transfer Documents
Valuation
Warranties
Property Description
Purchase Price
Payment Terms
Islamic Finance Terms
Title and Ownership
Property Transfer
Mortgage Terms
Security
Representations and Warranties
Covenants
Conditions Precedent
Completion
Registration
Default
Enforcement
Insurance
Property Maintenance
Regulatory Compliance
Shariah Compliance
Taxes and Fees
Force Majeure
Notices
Assignment
Amendment
Severability
Entire Agreement
Governing Law
Dispute Resolution
Termination
Real Estate
Banking & Finance
Islamic Finance
Construction
Property Development
Commercial Property
Residential Property
Property Investment
Legal Services
Legal
Real Estate
Finance
Compliance
Risk Management
Islamic Banking
Property Management
Corporate Finance
Investment
Operations
Legal Counsel
Real Estate Manager
Finance Director
Compliance Officer
Property Manager
Islamic Finance Specialist
Risk Manager
Chief Financial Officer
Real Estate Director
Banking Relationship Manager
Property Investment Manager
Legal Director
Shariah Compliance Officer
Real Estate Transaction Manager
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