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.
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1. Parties: Details of the seller and buyer, including complete legal names, ID numbers (KTP/Passport), addresses, and nationality
2. Background: Brief context of the transaction, including property ownership history and parties' intention to enter into the transaction
3. Definitions: Key terms used throughout the agreement, including technical and legal terminology
4. Property Details: Comprehensive description of the property including certificate number, land area, building area, boundaries, and address
5. Purchase Price: Agreed purchase price, payment terms, method of payment, and payment schedule
6. Terms of Transfer: Conditions and process for transferring ownership, including timing and responsibilities
7. Representations and Warranties: Seller's warranties regarding property ownership, absence of disputes, and condition of the property
8. Rights and Obligations: Detailed responsibilities of both parties before, during, and after the transfer
9. Taxes and Costs: Allocation of transaction costs, including transfer tax (BPHTB), income tax, and administrative fees
10. Property Handover: Terms and conditions for physical handover of the property
11. Governing Law: Confirmation of Indonesian law as governing law and jurisdiction
12. Dispute Resolution: Process for resolving any disputes related to the transaction
13. Execution: Signing requirements and execution formalities
1. Mortgage Details: Required when the purchase involves bank financing, including mortgage terms and conditions
2. Foreign Ownership Provisions: Required for foreign buyers, including compliance with Government Regulation No. 103 of 2015
3. Property Management: For apartments or properties within managed complexes, including management fees and obligations
4. Broker Provisions: When the transaction involves a property broker, including commission details
5. Condition Precedents: Special conditions that must be met before completion, such as obtaining permits or clearances
6. Due Diligence Results: When specific findings from due diligence need to be acknowledged in the agreement
7. Third Party Rights: When the property involves third party rights or interests that need to be addressed
1. Property Title Documents: Copies of land certificate and other ownership documents
2. Property Tax Records: History of property tax payments and current status
3. Property Plans: Official site plans, building plans, and measurements
4. Inventory List: For properties sold with furnishings or fixtures, detailed inventory
5. Payment Schedule: Detailed breakdown of payment installments and timing
6. Due Diligence Report: Summary of legal and technical due diligence findings
7. Permits and Licenses: Copies of relevant building permits and licenses
8. Photo Documentation: Current photographs of the property condition
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