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The Agreement of Purchase and Sale (Real Estate) is a crucial document used in Indonesian property transactions to formalize the transfer of real estate ownership between parties. This agreement is essential for both residential and commercial property transactions in Indonesia and must comply with specific legal requirements under Indonesian law, including the Basic Agrarian Law, Civil Code, and property registration regulations. The document captures all material aspects of the transaction, including detailed property description, purchase price, payment terms, conditions precedent, and closing requirements. It must be executed before a Land Deed Official (PPAT) and subsequently registered with the National Land Agency (BPN). The agreement is particularly important as it forms the basis for the official deed of transfer and provides legal protection for both parties in the transaction, while ensuring compliance with Indonesian property ownership and transfer regulations.

1. Parties: Identification of the Seller and Purchaser, including complete legal names, addresses, and any relevant registration numbers

2. Background: Context of the transaction, including brief description of the property and parties' intention to enter into the sale and purchase transaction

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Description: Detailed description of the property including land certificate number, area, boundaries, and any included fixtures or improvements

5. Purchase Price: The agreed purchase price and payment structure, including deposit amounts and payment schedule

6. Payment Terms: Detailed terms of payment, including method of payment, currency, and banking details

7. Conditions Precedent: Conditions that must be satisfied before the agreement becomes fully effective

8. Seller's Representations and Warranties: Seller's declarations regarding property ownership, absence of encumbrances, and other material facts

9. Purchaser's Representations and Warranties: Purchaser's declarations regarding legal capacity and financial ability to complete the purchase

10. Closing Requirements: Requirements and procedures for completing the transaction, including documentation and registration requirements

11. Transfer of Title: Process and requirements for legal transfer of property ownership

12. Taxes and Costs: Allocation of responsibility for transfer taxes, registration fees, and other transaction costs

13. Default and Remedies: Consequences of default by either party and available remedies

14. Governing Law and Dispute Resolution: Applicable law and method for resolving disputes

15. Notices: Process for giving formal notices under the agreement

16. General Provisions: Standard contractual provisions including entire agreement, amendments, and severability