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Land Acquisition Agreement
"I need a Land Acquisition Agreement for purchasing a 5,000 square meter industrial plot in Riyadh Industrial City for my manufacturing company, with completion planned for March 2025; the agreement needs to include specific provisions for future development rights and environmental compliance."
1. Parties: Identification of the seller and purchaser, including their full legal names, addresses, and registration details as per Saudi requirements
2. Background: Context of the transaction, including brief description of the property and purpose of the acquisition
3. Definitions: Definitions of key terms used throughout the agreement, including property-specific and Saudi legal terms
4. Property Description: Detailed description of the land, including exact boundaries, dimensions, and deed numbers as per Saudi land registration requirements
5. Purchase Price: Purchase price, payment terms, and method of payment in compliance with Shariah principles
6. Completion: Process and requirements for completion of the transfer, including registration requirements with relevant Saudi authorities
7. Seller's Warranties: Warranties regarding ownership, absence of encumbrances, and compliance with Saudi law
8. Title and Registration: Provisions regarding transfer of title and registration process with the Saudi land registry
9. Shariah Compliance: Specific provisions ensuring compliance with Islamic law principles
10. Municipal Compliance: Confirmations regarding zoning, land use, and municipal regulations
11. Governing Law and Jurisdiction: Specification of Saudi law as governing law and Saudi courts' jurisdiction
12. Notices: Process for serving notices between parties as per Saudi legal requirements
1. Foreign Ownership Provisions: Required when purchaser is a foreign entity, addressing specific requirements under Saudi foreign investment laws
2. Development Obligations: Include when the purchase involves undeveloped land with specific development requirements
3. Environmental Compliance: Required when the land has specific environmental considerations or requirements
4. Conditions Precedent: Include when completion is subject to specific conditions such as government approvals
5. Financing Provisions: Required when purchase involves Shariah-compliant financing arrangements
6. Due Diligence: Include when specific due diligence requirements need to be completed before completion
7. Force Majeure: Optional provisions for unforeseen circumstances affecting completion
1. Property Plan: Official surveyed plan of the property as approved by Saudi authorities
2. Title Documents: Copies of existing title deed and registration documents
3. Payment Schedule: Detailed breakdown of payment installments and timing if applicable
4. Due Diligence Documents: List of required documents for due diligence review
5. Municipal Approvals: Copies of relevant municipal permits and approvals
6. Property Photographs: Recent photographs of the property and its boundaries
7. Completion Requirements: Checklist of documents required for completion and registration
8. Power of Attorney: If required, forms for power of attorney for registration purposes
Authors
Real Estate Development
Construction
Industrial Manufacturing
Retail
Hospitality
Healthcare
Education
Logistics
Mining
Agriculture
Energy
Infrastructure Development
Religious Tourism
Commercial Property
Legal
Real Estate
Property Development
Corporate Development
Finance
Compliance
Facilities Management
Project Management
Risk Management
Business Development
Investment
Real Estate Director
Legal Counsel
Property Manager
Development Manager
Investment Director
Chief Financial Officer
Compliance Officer
Facilities Manager
Project Manager
Land Acquisition Specialist
Corporate Real Estate Manager
General Counsel
Risk Manager
Chief Executive Officer
Business Development Director
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