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A Building Purchase Agreement is essential for any transaction involving the transfer of building ownership in Indonesia. This document is used when a party wishes to purchase a building, whether for commercial, residential, or industrial purposes. The agreement must comply with Indonesian legal requirements, including the Civil Code, Basic Agrarian Law, and Building Law No. 28 of 2002. It typically includes comprehensive details about the property, purchase price, payment terms, warranties, and completion requirements. The document must address specific Indonesian regulatory requirements such as land certification, building permits (IMB), and tax obligations. It should be prepared with consideration of local property regulations and requires execution before a Land Deed Official (PPAT). The agreement is crucial for protecting both parties' interests and ensuring a legally valid transfer of building ownership under Indonesian law.

1. Parties: Identification and details of the Seller and Buyer, including their legal capacity to enter into the agreement

2. Background: Context of the transaction, including brief description of the property and intention to sell/purchase

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

4. Property Details: Comprehensive description of the building, including address, certificate numbers, and building specifications

5. Purchase Price: Agreed purchase price and payment terms, including deposit arrangements

6. Payment Method: Details of how payments will be made, including bank account details and payment schedule

7. Conditions Precedent: Conditions that must be fulfilled before the sale can proceed, including regulatory approvals

8. Seller's Warranties: Warranties regarding property ownership, building permits, and absence of disputes or encumbrances

9. Buyer's Warranties: Warranties regarding financial capacity and compliance with relevant regulations

10. Completion: Process and requirements for completing the transaction, including documentation and handover procedures

11. Tax Obligations: Responsibilities for various taxes including transfer tax, VAT, and stamp duty

12. Risk and Insurance: Transfer of risk and insurance requirements

13. Default and Termination: Consequences of default and circumstances allowing termination

14. Dispute Resolution: Procedures for resolving disputes, including jurisdiction and governing law

15. Notices: How formal communications between parties should be made

16. General Provisions: Standard boilerplate clauses including entire agreement, amendments, and severability