This Real Estate Contract template is designed for use in property transactions within Indonesia, incorporating all necessary elements required by Indonesian property law and regulations. The document is essential for formalizing property sales and transfers, ensuring compliance with the Basic Agrarian Law, civil code requirements, and regional property regulations. It can be used for both residential and commercial properties, accommodating various transaction types from simple residential sales to complex commercial property transfers. The contract includes provisions for property description, ownership verification, payment terms, and transfer procedures, while addressing specific requirements for different types of land rights under Indonesian law. It's particularly valuable for ensuring that property transactions meet all legal requirements and properly document the rights and obligations of all parties involved.
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1. Parties: Details of the seller and buyer, including complete legal names, ID numbers (KTP/passport), addresses, and citizenship status
2. Background: Context of the transaction, including brief property history and purpose of the sale
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 schedule of payments
6. Payment Method: Detailed description of payment mechanisms and bank account details
7. Transfer of Title: Process and timeline for legal transfer of property ownership
8. Representations and Warranties: Seller's warranties regarding property ownership, encumbrances, and condition
9. Rights and Obligations: Specific responsibilities of both parties before, during, and after the transaction
10. Taxes and Costs: Allocation of transaction taxes, notary fees, and other costs
11. Handover Process: Timeline and conditions for physical property handover
12. Default and Remedies: Consequences of breach and available remedies
13. Governing Law: Confirmation of Indonesian law application and jurisdiction
14. Dispute Resolution: Process for resolving disputes, including choice of forum
15. Notices: Method and addresses for official communications
16. Execution: Signature requirements and execution process
1. Mortgage Provisions: Required when the purchase involves bank financing or mortgage arrangements
2. Foreign Ownership Compliance: Necessary when the buyer is a foreign national, detailing compliance with Government Regulation No. 103 of 2015
3. Property Management: Required for apartments or properties within managed complexes
4. Broker Provisions: Include when real estate agents or brokers are involved in the transaction
5. Condition Precedents: Special conditions that must be met before completion
6. Due Diligence Period: When buyer requires time for property investigation
7. Strata Title Provisions: For apartment or condominium purchases
8. Development Obligations: When property includes undeveloped land or requires construction
9. Environmental Compliance: For properties requiring environmental permits or assessments
1. Property Certificate Details: Copy and details of land certificate, building permits, and ownership history
2. Payment Schedule: Detailed breakdown of payment installments and due dates
3. Property Specifications: Detailed technical specifications, floor plans, and building details
4. Due Diligence Results: Reports from property inspections and legal verification
5. Tax Certificates: Property tax payment proof and tax registration details
6. Permits and Licenses: Copies of relevant permits, licenses, and certificates
7. Site Plan: Official site plan showing property boundaries and location
8. Inventory List: List of fixtures, fittings, and other items included in the sale
9. Power of Attorney: If applicable, power of attorney documents for representatives
10. Previous Agreements: Relevant prior agreements affecting the property
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