The Affidavit of Consideration for Use by Seller is a critical document in Saudi Arabian property and asset transactions, required when there is a need to formally declare and verify the true consideration involved in a sale. This document becomes necessary during property transfers, asset sales, or when authorities require verification of transaction values. The affidavit must be prepared in accordance with Saudi law, including compliance with Sharia principles and local commercial regulations. It typically contains detailed information about the seller, the property or asset being sold, and the exact consideration received. The document requires proper notarization and may need to be presented to various authorities including the Ministry of Justice, municipalities, or commercial courts. Given Saudi Arabia's strict requirements for transaction transparency and Islamic finance principles, this affidavit serves as both a legal declaration and a compliance document.
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1. Title and Introduction: Formal title of the affidavit and introduction of the document under Saudi law
2. Affiant Information: Full legal name, address, and identification details of the seller making the affidavit
3. Property/Transaction Description: Detailed description of the property or subject matter of the sale
4. Consideration Statement: Explicit declaration of the full and true consideration received or to be received
5. Transaction Details: Date of sale, method of payment, and other relevant transaction details
6. Truth Declaration: Formal declaration that all statements made are true and accurate
7. Sharia Compliance Statement: Declaration that the transaction complies with Islamic principles
8. Execution: Signature block, date, and place of execution
9. Notary Attestation: Official notarization section as required under Saudi law
1. Additional Parties: Section for including details of additional sellers if the property has multiple owners
2. Prior Transactions: Details of any previous relevant transactions, used when there's a chain of sales
3. Financing Details: Information about any financing arrangements, if applicable
4. Special Conditions: Any special conditions or unusual circumstances relating to the consideration
5. Power of Attorney: Required when the affidavit is being executed through a legal representative
6. Translation Certificate: Required when the document needs to be in both Arabic and English
1. Schedule A - Property Details: Detailed description of the property or assets involved in the transaction
2. Schedule B - Payment Schedule: If consideration is to be paid in installments, details of the payment schedule
3. Schedule C - Supporting Documents: List of attached supporting documents such as property titles or transaction records
4. Appendix 1 - Identity Documents: Copies of required identification documents of the seller
5. Appendix 2 - Property Documents: Copies of property ownership documents or relevant certificates
6. Appendix 3 - Authorization Documents: Any powers of attorney or authorization documents if applicable
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