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The Real Estate Contract For Sale By Owner is a crucial legal document used in Indonesia when property owners wish to sell their real estate directly to buyers without broker intervention. This document type has gained significance due to the increasing preference for direct property transactions and the need for cost efficiency. It must comply with Indonesian property law, including the Basic Agrarian Law (Undang-Undang Pokok Agraria), land registration regulations, and local property transaction requirements. The contract includes comprehensive provisions for property transfer, from initial agreement through to final registration, and is particularly relevant in cases where parties wish to maintain direct control over the transaction process while ensuring legal compliance. It's designed to protect both parties' interests while facilitating a smooth transfer of property ownership within the Indonesian legal framework.

1. Parties: Identification of the Seller and Buyer with complete legal names, addresses, and ID numbers (KTP for Indonesian citizens or passport for foreigners)

2. Background: Brief context of the sale, including the seller's ownership status and intention to sell

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

4. Property Details: Comprehensive description of the property including certificate number, land area, building area, and exact location

5. Purchase Price: Agreed purchase price, payment terms, and payment schedule

6. Payment Method: Specified method of payment and banking details

7. Conditions Precedent: Conditions that must be met before the sale can proceed

8. Representations and Warranties: Seller's declarations regarding property ownership, absence of disputes, and property condition

9. Rights and Obligations: Detailed responsibilities of both parties before, during, and after the transaction

10. Property Handover: Terms and process for transferring physical possession of the property

11. Registration and Transfer of Title: Process and requirements for legal transfer of property ownership

12. Taxes and Costs: Allocation of transaction costs, taxes, and fees between parties

13. Default and Termination: Consequences of breach and conditions for contract termination

14. Dispute Resolution: Process for resolving disputes, including jurisdiction and applicable law

15. Notices: How formal communications between parties should be made

16. Governing Law: Confirmation of Indonesian law as the governing law

17. Execution: Signature blocks and execution requirements