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Property Agreement
"I need a Property Agreement for purchasing a commercial building in Jakarta's business district for my Singapore-based company, ensuring compliance with Indonesian foreign ownership restrictions and including specific provisions for the building's existing tenants who will remain after the purchase is completed in March 2025."
1. Parties: Details of the parties entering into the agreement, including their legal names, addresses, and registration numbers for companies
2. Background: Context of the agreement, including brief history of the property and purpose of the transaction
3. Definitions: Definitions of key terms used throughout the agreement, including Indonesian legal terms
4. Property Details: Comprehensive description of the property including certificate number, land area, building specifications, and boundaries as per Indonesian land registration requirements
5. Transaction Terms: Core terms of the property transaction including price/rent, payment terms, and payment method in accordance with Indonesian banking regulations
6. Rights and Obligations: Detailed responsibilities of each party under Indonesian law, including maintenance obligations and permitted use of property
7. Title and Ownership: Declarations regarding legal ownership, encumbrances, and transfer process in accordance with Indonesian property law
8. Representations and Warranties: Legal statements and guarantees about the property's status and parties' authority to enter into the agreement
9. Completion Process: Steps for completing the transaction, including notarial requirements and registration procedures
10. Default and Remedies: Consequences of breach and available legal remedies under Indonesian law
11. Governing Law and Dispute Resolution: Specification of Indonesian law as governing law and dispute resolution mechanisms
12. Notices: Process for formal communications between parties
13. General Provisions: Standard legal provisions including severability, entire agreement, and amendments
1. Foreign Ownership Provisions: Required when one party is non-Indonesian, detailing compliance with foreign ownership restrictions
2. Strata Title Provisions: Required for apartments or multi-story properties, including building management and common area rights
3. Tenant Provisions: Required for lease agreements, including terms of occupancy and maintenance responsibilities
4. Mortgage Provisions: Required when the property is subject to mortgage or financing arrangements
5. Development Rights: Required when the property includes undeveloped land or renovation rights
6. Environmental Compliance: Required for properties in environmentally sensitive areas or with specific environmental obligations
7. Cultural Heritage Provisions: Required for properties with cultural or historical significance under Indonesian law
8. Broker Provisions: Required when property agents or brokers are involved in the transaction
1. Property Description Schedule: Detailed technical description of the property, including maps, plans, and photographs
2. Title Documents: Copies of land certificates, building permits, and other ownership documents
3. Payment Schedule: Detailed breakdown of payment terms, installments, and due dates
4. Due Diligence Results: Reports on legal and physical inspection of the property
5. Land Use Certificates: Copies of zoning permits and land use rights certificates
6. Property Tax Documents: Records of property tax payments and obligations
7. Building Specifications: Technical details of building construction and facilities
8. Previous Agreements: Copies of relevant prior agreements affecting the property
9. Power of Attorney: If applicable, notarized power of attorney documents
Authors
Real Estate
Property Development
Construction
Banking & Finance
Hospitality
Retail
Commercial Property
Residential Property
Industrial Property
Agriculture
Tourism
Manufacturing
Logistics
Education
Healthcare
Legal
Real Estate
Property Management
Facilities Management
Business Development
Operations
Finance
Compliance
Risk Management
Asset Management
Investment
Acquisitions
Development
Contract Administration
Real Estate Manager
Property Developer
Legal Counsel
Compliance Officer
Real Estate Agent
Property Manager
Facilities Manager
Investment Manager
Asset Manager
Business Development Manager
Operations Director
Chief Financial Officer
Risk Manager
Contract Administrator
Property Valuer
Real Estate Analyst
Development Director
Acquisition Manager
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