Redeemable Deed Template for Saudi Arabia

The Redeemable Deed is a crucial document in Saudi Arabian property transactions where temporary transfer of property rights is required while maintaining the original owner's right to reclaim the property. This document type is commonly used in various scenarios, including Islamic financing arrangements, family property matters, and commercial real estate transactions. The deed must strictly comply with Sharia principles and Saudi Arabian property laws, requiring detailed documentation of the property, parties involved, consideration paid, and specific conditions for redemption. It's particularly important in Islamic finance structures where conventional mortgages are not permitted, providing a Sharia-compliant alternative for property financing arrangements. The document requires official authentication through Saudi notarial authorities and must be registered with the relevant property registration authorities to be legally effective.

1. Parties: Identification of all parties involved in the deed, including full legal names, addresses, and official identification numbers as required by Saudi law

2. Background: Context of the transaction, including the original ownership status and the purpose of the redeemable deed arrangement

3. Definitions: Key terms used throughout the deed, including specific Arabic legal terms and their English equivalents where applicable

4. Property Description: Detailed description of the property including location, boundaries, size, and registration details as per Saudi land registry requirements

5. Consideration: Details of the payment or consideration given for the property, ensuring compliance with Sharia principles

6. Redemption Rights: Specific terms and conditions under which the property can be redeemed, including timeframe and process

7. Payment Terms: Details of how and when redemption payments must be made, including any installment arrangements

8. Property Possession and Management: Rights and obligations regarding property possession and management during the redemption period

9. Representations and Warranties: Statements and guarantees made by each party regarding their authority, property status, and other relevant matters

10. Default Provisions: Consequences of failing to meet redemption terms or other obligations

11. Notices: Process for formal communications between parties

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

13. Execution: Formal signing requirements and attestation in accordance with Saudi legal requirements