The Agreement for Sale and Sale Deed is a crucial document in Indonesian property transactions, combining both the contractual agreement and the formal transfer deed in accordance with Indonesian law. This document is essential when transferring property ownership in Indonesia, whether for residential, commercial, or industrial purposes. It must comply with the Indonesian Civil Code, Basic Agrarian Law, and various property regulations. The document is used for both private and commercial transactions, requiring execution before a notary public and subsequent registration with the Land Office. The combined format ensures that both the contractual obligations and the legal transfer requirements are properly documented, making it particularly important for property developers, businesses expanding their premises, and individuals buying or selling property.
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1. Parties: Identification of the seller and purchaser with complete legal details as required under Indonesian law
2. Background: Context of the transaction, including brief property description and intention to sell/purchase
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property including certificate number, land area, building specifications, and boundaries
5. Purchase Price: Agreed purchase price, payment terms, and method of payment
6. Payment Terms: Detailed schedule of payments, including deposit and installment arrangements if applicable
7. Conditions Precedent: Conditions that must be satisfied before completion of the sale
8. Seller's Warranties: Warranties regarding property ownership, absence of encumbrances, and authority to sell
9. Property Handover: Terms and process for physical handover of the property
10. Title Transfer: Process and requirements for legal transfer of title
11. Taxes and Costs: Allocation of transaction costs, taxes, and fees between parties
12. Default and Termination: Consequences of default and circumstances allowing termination
13. Governing Law: Confirmation of Indonesian law as governing law
14. Dispute Resolution: Process for resolving disputes, including jurisdiction
1. Foreign Ownership Compliance: Required when purchaser is a foreign national, detailing compliance with Indonesian foreign ownership restrictions
2. Broker Provisions: Include when a property broker is involved in the transaction
3. Existing Tenancies: Required when the property is subject to existing lease agreements
4. Mortgage Release: Include when the property needs to be released from an existing mortgage
5. Construction Warranties: Required for new properties or recent constructions
6. Strata Title Provisions: Include for apartments or properties under strata title
7. Environmental Conditions: Required for industrial properties or properties with potential environmental issues
1. Property Description Schedule: Detailed technical description of the property, including certificates and measurements
2. Payment Schedule: Detailed breakdown of payment installments and due dates
3. Title Documents: Copies of land certificates and other title documents
4. Property Plans: Official site plans, building plans, and boundary maps
5. Due Diligence Results: Summary of property checks and verifications
6. Handover Inventory: List of items included in the sale and their condition
7. Required Permits: Copies of relevant permits and licenses
8. Tax Certificates: Property tax payment evidence and certificates
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