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Commercial Real Estate Sales Contract Template for Indonesia

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Key Requirements PROMPT example:

Commercial Real Estate Sales Contract

"I need a Commercial Real Estate Sales Contract for the purchase of a three-story office building in Jakarta's central business district, with completion scheduled for March 2025; the buyer is a domestic Indonesian corporation, and we need to include specific provisions for existing tenants who will remain in the building after the sale."

Document background
The Commercial Real Estate Sales Contract is a crucial legal document used in Indonesia for facilitating the transfer of commercial property ownership between parties. It is essential for any transaction involving the sale of office buildings, retail spaces, industrial properties, or other commercial real estate assets in Indonesia. The document must comply with Indonesian property laws, including the Basic Agrarian Law No. 5 of 1960, Government Regulation No. 24 of 1997 on Land Registration, and various local spatial planning regulations. This contract type includes detailed provisions for property description, purchase price, payment terms, due diligence requirements, warranties, and transfer procedures, all specifically tailored to meet Indonesian legal requirements and commercial property regulations.
Suggested Sections

1. Parties: Identification of the seller and purchaser, including complete legal names, addresses, and registration numbers for companies

2. Background: Context of the transaction, brief description of the property, and purpose of the agreement

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

4. Property Details: Comprehensive description of the property, including address, land certificate details, building specifications, and registered encumbrances

5. Purchase Price: Agreed purchase price, payment structure, and payment methods

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

7. Conditions Precedent: Conditions that must be satisfied before completion of the sale

8. Due Diligence: Buyer's rights and timeline for conducting due diligence investigations

9. Seller's Warranties: Warranties regarding property ownership, condition, and legal status

10. Buyer's Warranties: Warranties regarding legal capacity and funding availability

11. Completion: Process and requirements for completing the sale, including documentation and registration

12. Transfer of Title: Procedures for transferring property ownership and registration with relevant authorities

13. Taxes and Costs: Allocation of transaction taxes, registration fees, and other costs

14. Default and Termination: Consequences of breach and circumstances allowing termination

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

16. Dispute Resolution: Procedures for handling disputes, including choice of forum and arbitration provisions

Optional Sections

1. Foreign Ownership Provisions: Required when buyer is a foreign entity or individual, detailing compliance with Indonesian foreign ownership restrictions

2. Strata Title Provisions: Required for multi-story commercial buildings with separate strata titles

3. Environmental Compliance: Required when property has specific environmental considerations or requirements

4. Tenant Rights: Required when property is sold with existing tenants and lease agreements

5. Development Rights: Required when property includes undeveloped land or development potential

6. Mixed-Use Provisions: Required for properties with both commercial and other usage rights

7. Broker Provisions: Required when real estate brokers are involved in the transaction

8. Financing Contingency: Required when purchase is contingent on buyer obtaining financing

9. Property Management Transition: Required for properties with existing management structures

Suggested Schedules

1. Property Description Schedule: Detailed technical description of the property, including boundaries, measurements, and facilities

2. Title Documents: Copies of land certificates and other ownership documents

3. Property Plans: Building plans, floor plans, and site maps

4. Inventory Schedule: List of fixtures, fittings, and equipment included in the sale

5. Payment Schedule: Detailed breakdown of payment installments and timing

6. Due Diligence Results: Summary of due diligence findings and reports

7. Existing Tenancies: Details of current lease agreements and tenant obligations

8. Permits and Licenses: Copies of relevant business and building permits

9. Land Use Certificates: Zoning certificates and land use rights documentation

10. Environmental Reports: Environmental assessment reports and certificates

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions


















































Clauses








































Relevant Industries

Commercial Real Estate

Retail

Office Space Development

Industrial Property

Hospitality

Mixed-use Development

Warehousing and Logistics

Shopping Centers and Malls

Business Parks

Manufacturing

Relevant Teams

Legal

Real Estate

Finance

Property Development

Asset Management

Investment

Facilities Management

Risk Management

Corporate Development

Compliance

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Real Estate Director

Property Development Manager

Commercial Property Manager

Legal Counsel

Real Estate Investment Manager

Facilities Manager

Asset Manager

Property Acquisition Specialist

Real Estate Broker

Corporate Lawyer

Finance Director

Investment Analyst

Due Diligence Officer

Industries









Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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