Document background
The Property Sale Contract is a fundamental legal document used in Indonesian property transactions to formalize the transfer of property ownership. This document is essential for any property sale in Indonesia, whether residential, commercial, or industrial. It must comply with specific requirements under Indonesian law, including the Civil Code, Basic Agrarian Law, and various property regulations. The contract requires execution before a Land Deed Official (PPAT) and subsequent registration with the National Land Office (BPN). It typically includes comprehensive details about the property, parties involved, purchase price, payment terms, warranties, and specific conditions for transfer of ownership. The document is particularly important as it forms the basis for property rights transfer and must address various aspects of Indonesian property law, including foreign ownership restrictions where applicable.
