The Land Sale Agreement Form is a crucial legal document used in Indonesian property transactions to formalize the transfer of land ownership between parties. This document is essential when any type of land, whether vacant, developed, or agricultural, is being sold in Indonesia. It must comply with the Basic Agrarian Law No. 5 of 1960 and related regulations, including requirements for land registration and transfer procedures at the National Land Office (BPN). The agreement covers all aspects of the transaction, from property description and price to warranties and completion requirements, while addressing specific Indonesian legal requirements such as the involvement of a Land Deed Official (PPAT) and proper tax documentation. It's particularly important as land ownership in Indonesia is subject to strict regulations, especially regarding foreign ownership and land use restrictions.
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1. Parties: Identification of the seller and purchaser with complete details as required under Indonesian law, including their KTP (ID card) numbers
2. Background: Context of the transaction and brief description of the property being sold
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the land, including certificate number, location, boundaries, and size
5. Purchase Price: Agreed purchase price and payment terms, including deposit arrangements
6. Payment Method: Details of how and when payments will be made, including bank account details
7. Conditions Precedent: Conditions that must be satisfied before the sale can proceed
8. Seller's Warranties: Warranties regarding ownership, absence of encumbrances, and authority to sell
9. Buyer's Warranties: Warranties regarding capacity to purchase and compliance with Indonesian property ownership laws
10. Completion: Process and requirements for completing the sale, including timing and location
11. Land Registration: Process for transferring title at the National Land Office (BPN)
12. Costs and Taxes: Allocation of transaction costs, including transfer tax (BPHTB) and income tax
13. Default and Termination: Consequences of default and circumstances allowing termination
14. Governing Law: Confirmation of Indonesian law as governing law
15. Dispute Resolution: Process for resolving disputes, including jurisdiction of Indonesian courts
16. Execution: Signing requirements and date
1. Foreign Ownership Compliance: Required if buyer is a foreign national or entity, detailing compliance with foreign ownership restrictions
2. Building Inspection: Include if the land includes buildings requiring inspection
3. Environmental Conditions: Include if environmental assessments are required or if there are known environmental issues
4. Broker Provisions: Include if a property broker is involved in the transaction
5. Existing Tenancies: Include if the property has existing tenants
6. Mortgage Release: Include if the property has an existing mortgage that needs to be discharged
7. Development Conditions: Include if the land is subject to specific development requirements or restrictions
8. Strata Title Provisions: Include if the property involves strata title arrangements
1. Property Description Schedule: Detailed technical description of the land, including certificate details and cadastral map
2. Payment Schedule: Detailed breakdown of payment installments and timing
3. Title Documents: Copies of land certificate and other relevant title documents
4. Due Diligence Results: Results of legal and technical due diligence investigations
5. Land Use Permits: Copies of relevant land use and zoning permits
6. Property Tax Records: History of property tax payments and current status
7. Site Plan: Detailed plan showing property boundaries and features
8. Photographs: Recent photographs of the property and any structures
Relevant legal definitions
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Relevant Industries
Real Estate
Property Development
Construction
Agriculture
Industrial
Commercial Property
Residential Property
Infrastructure
Tourism
Mining
Manufacturing
Relevant Teams
Legal
Real Estate
Property Management
Compliance
Business Development
Investment
Facilities Management
Project Management
Risk Management
Operations
Corporate Affairs
Finance
Relevant Roles
Real Estate Manager
Property Developer
Legal Counsel
Compliance Officer
Land Acquisition Manager
Property Manager
Business Development Manager
Investment Manager
Facilities Manager
Construction Manager
Project Manager
Real Estate Agent
Corporate Lawyer
Notary Public
Land Deed Official
Property Consultant
Risk Manager
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