The Unregistered Sale Agreement With Possession is a crucial document in Saudi Arabian property transactions where immediate transfer of possession is required before or without formal registration. This agreement type is commonly used in situations requiring quick closure, temporary arrangements pending full registration, or where traditional registered sales face procedural delays. The document must strictly comply with Saudi law and Sharia principles while providing comprehensive protection for both parties. It includes detailed provisions for possession transfer, payment terms, warranties, and risk allocation, making it particularly valuable in time-sensitive commercial transactions or where traditional registration procedures may not be immediately practical. The agreement serves as a binding document under Saudi law, though parties should be aware of its limitations compared to registered sales.
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1. Parties: Identification of seller and buyer with complete details including ID numbers, addresses, and capacity to contract
2. Background: Context of the sale, current ownership status, and brief property history
3. Definitions: Key terms used throughout the agreement, including Property, Possession Date, and Purchase Price
4. Sale and Purchase: Core agreement to sell and purchase, including property description and confirmation of Sharia compliance
5. Purchase Price: Amount, payment method, and payment schedule including any deposits
6. Possession: Terms of physical possession transfer, timing, and associated procedures
7. Seller's Warranties: Warranties regarding ownership, absence of encumbrances, and property condition
8. Property Condition: Current state of property, any defects, and acceptance of condition
9. Risk and Insurance: Transfer of risk and responsibility for insurance
10. Taxes and Costs: Allocation of transaction costs, taxes, and utility payments
11. Default and Remedies: Consequences of breach and available remedies
12. Notices: Communication methods and addresses for formal notices
13. Governing Law: Confirmation of Saudi law and Sharia principles application
1. Financing Arrangements: Include when purchase involves external financing or installment payments
2. Maintenance Obligations: Include for properties requiring specific maintenance arrangements during transition
3. Third Party Rights: Include when there are existing tenants or other third-party interests
4. Future Registration: Include when parties plan future official registration of the sale
5. Broker Provisions: Include when real estate brokers are involved in the transaction
6. Property Management: Include for properties with ongoing management requirements
7. Dispute Resolution: Include when parties wish to specify particular dispute resolution mechanisms
1. Property Description: Detailed description of property including boundaries, size, and location
2. Payment Schedule: Detailed breakdown of payment installments and dates if applicable
3. Inventory: List of included fixtures, fittings, and contents if applicable
4. Property Documents: List of all relevant property documents and certificates
5. Handover Checklist: Detailed list of items to be checked during possession transfer
6. Defects List: Documentation of any existing defects acknowledged by both parties
7. Required Permits: List of necessary permits and their status
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Construction
Banking & Finance
Property Development
Agriculture
Industrial
Retail
Hospitality
Commercial Property
Residential Property
Manufacturing
Logistics
Relevant Teams
Legal
Real Estate
Property Management
Compliance
Risk Management
Operations
Commercial
Business Development
Facilities Management
Asset Management
Relevant Roles
Real Estate Manager
Property Lawyer
Legal Counsel
Property Developer
Asset Manager
Facilities Manager
Commercial Director
Real Estate Agent
Property Consultant
Compliance Officer
Risk Manager
Investment Manager
Business Development Manager
Operations Manager
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