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The Buy Sell Agreement For Land is a crucial legal document used in Indonesian property transactions to formalize and document the transfer of land ownership. It is essential for any land acquisition in Indonesia, whether for personal, commercial, or industrial purposes. The agreement must comply with various Indonesian regulations, including the Basic Agrarian Law No. 5 of 1960, land registration requirements, and local spatial planning regulations. This document is particularly important as land ownership in Indonesia has specific restrictions and requirements, especially regarding foreign ownership and different types of land titles. The agreement typically includes detailed property descriptions, price and payment terms, warranties about the property's legal status, and specific procedures for completing the transfer through a Land Deed Official (PPAT). It serves as the foundation for the eventual execution of the deed of transfer (Akta Jual Beli) and subsequent land registration.

1. Parties: Identification of the Seller and Buyer with complete legal names, addresses, and identification numbers as required by Indonesian law

2. Background: Context of the transaction, including brief description of the property and parties' intention to enter into a sale and purchase transaction

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

4. Object of Sale and Purchase: Detailed description of the land, including certificate number, location, boundaries, and total area as per official documents

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

6. Payment Terms: Detailed payment schedule, method of payment, and consequences of payment default

7. Representations and Warranties: Seller's warranties regarding ownership, encumbrances, and property condition; Buyer's warranties regarding capability to purchase

8. Conditions Precedent: Conditions that must be fulfilled before completion, including legal and regulatory requirements

9. Completion: Process and requirements for transferring ownership, including execution of deed of transfer (AJB) before PPAT

10. Default and Termination: Circumstances constituting default and consequences thereof, including termination rights

11. Taxes and Costs: Allocation of transaction costs, including transfer tax, notary fees, and registration costs

12. Governing Law and Dispute Resolution: Specification of Indonesian law as governing law and agreed dispute resolution mechanism

13. Notices: Process for giving formal notices under the agreement

14. General Provisions: Standard boilerplate provisions including entire agreement, amendments, and severability