Document background
The Property Purchase Form is a fundamental legal document used in Indonesian real estate transactions to formalize the transfer of property ownership. It is designed to comply with Indonesian property law, particularly the Basic Agrarian Law No. 5 of 1960 and subsequent regulations. This document is essential for both residential and commercial property transactions, requiring execution before a licensed Notary Public (PPAT). The form captures crucial information including property details, ownership history, purchase price, payment terms, and parties' obligations. It serves as a key document for property registration at the National Land Office and forms the basis for calculating property transfer taxes. The document is adaptable for various property types including land, houses, apartments, and commercial buildings, while maintaining compliance with Indonesian foreign ownership restrictions where applicable.
