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The Real Estate Installment Contract is a specialized agreement used in Indonesian property transactions where the buyer purchases real estate through structured installment payments rather than a single lump sum. This document is particularly relevant in situations where buyers require extended payment terms or when developers offer payment plans for properties under construction or completed units. It must comply with Indonesian property laws, including the Basic Agrarian Law and relevant consumer protection regulations. The contract typically includes detailed payment schedules, property specifications, ownership transfer mechanisms, and buyer/seller obligations. It's commonly used in both residential and commercial property transactions, requiring proper notarization and registration with relevant authorities to ensure legal enforceability.

1. Parties: Identification of the seller and buyer, including complete legal names, addresses, and ID numbers as required by Indonesian law

2. Background: Context of the transaction, brief description of the property, and parties' intention to enter into an installment-based purchase agreement

3. Definitions: Definitions of key terms used throughout the agreement, including technical and legal terms specific to Indonesian real estate law

4. Property Details: Comprehensive description of the property, including certificate number, land area, building specifications, and boundaries

5. Purchase Price: Total purchase price, payment structure, and installment terms including down payment amount

6. Payment Terms: Detailed schedule of installment payments, payment methods, and consequences of late or missed payments

7. Transfer of Ownership: Process and conditions for the gradual or final transfer of property ownership rights under Indonesian law

8. Seller's Warranties: Warranties regarding property ownership, absence of encumbrances, and compliance with local regulations

9. Buyer's Obligations: Responsibilities including timely payments, property maintenance, and compliance with residential regulations

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

11. Registration and Notarization: Requirements for proper registration and notarization of the agreement as per Indonesian law

12. Taxes and Costs: Allocation of transaction costs, taxes, and fees between parties

13. Governing Law: Confirmation of Indonesian law as governing law and jurisdiction

14. Termination: Conditions and processes for agreement termination

15. Notices: Process for formal communications between parties

16. Execution: Signature requirements and execution formalities