The Apartment Purchase Agreement is a crucial legal document used in Indonesian real estate transactions for the sale and purchase of apartment units. It serves as the primary contract between sellers and buyers, whether they are individuals, companies, or developers. This agreement must comply with Indonesian property laws, particularly Law No. 20 of 2011 on Flats (Rumah Susun) and the Basic Agrarian Law. The document is essential for both new developments and resale transactions, covering all aspects from payment terms to property handover. It includes specific provisions required under Indonesian law, such as strata title details, building management obligations, and where applicable, foreign ownership considerations. The agreement should be executed before a notary public and requires registration with relevant authorities to ensure legal validity.
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1. Parties: Identification of the seller and purchaser with complete details including ID/passport numbers, addresses, and citizenship status
2. Background: Context of the transaction, including brief description of the property and seller's right to sell
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the apartment including unit number, floor, building name, land certificate details, measurements, and boundaries
5. Purchase Price: Agreed purchase price, payment schedule, and payment methods
6. Payment Terms: Detailed breakdown of payment structure, installments, and due dates
7. Conditions Precedent: Conditions that must be fulfilled before completion of the purchase
8. Seller's Representations and Warranties: Seller's guarantees regarding property ownership, condition, and legal status
9. Buyer's Representations and Warranties: Buyer's declarations regarding legal capacity and financial ability to purchase
10. Completion: Process and requirements for completing the transaction, including documentation and registration
11. Handover: Procedures for physical handover of the property and transfer of utilities
12. Taxes and Costs: Allocation of transaction costs, taxes, and registration fees
13. Default and Termination: Consequences of default and conditions for termination
14. Dispute Resolution: Procedures for handling disputes, including jurisdiction and governing law
15. Notices: Methods and addresses for formal communications between parties
16. General Provisions: Standard contractual provisions including severability, entire agreement, and amendments
1. Mortgage Financing: Required when buyer is obtaining bank financing, including conditions and requirements for mortgage approval
2. Foreign Ownership Provisions: Required for foreign buyers, including compliance with Indonesian foreign ownership restrictions
3. Property Management: Details of building management, maintenance fees, and regulations when relevant to the purchase
4. Defect Liability: For new apartments, covering developer's warranty period and obligations
5. Furniture and Fittings: When apartment is sold furnished, detailing included items and their condition
6. Power of Attorney: When any party is acting through an attorney or representative
7. Strata Title Provisions: When strata title is still in process or requires special conditions
1. Property Description Schedule: Detailed technical description of the apartment, including floor plans and specifications
2. Payment Schedule: Detailed breakdown of payment installments and due dates
3. Inventory List: List of furniture, fixtures, and fittings included in the sale (if applicable)
4. Building Rules and Regulations: Copy of the apartment complex rules and regulations
5. Land Certificate Details: Copies of relevant certificates and property ownership documents
6. Defect List: Documentation of any existing defects or damage acknowledged by both parties
7. Service Charge Schedule: Details of ongoing maintenance fees and service charges
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