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Unit Purchase Agreement Template for Saudi Arabia

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Key Requirements PROMPT example:

Unit Purchase Agreement

"I need a Unit Purchase Agreement for a three-bedroom apartment in Riyadh's Al Olaya district, with completion scheduled for March 2025, where the buyer is a foreign corporation requiring specific foreign ownership provisions."

Document background
The Unit Purchase Agreement is a fundamental legal document used in Saudi Arabian real estate transactions to formalize the purchase and sale of property units. This agreement is essential when transferring ownership of residential, commercial, or mixed-use properties in Saudi Arabia, and must comply with both Sharia law principles and local real estate regulations. The document is typically used when a definitive agreement is needed to outline the complete terms of a property purchase, including detailed property specifications, payment arrangements, warranties, and completion requirements. It incorporates specific Saudi Arabian legal requirements such as property registration procedures and ownership transfer protocols, making it suitable for both local and international parties involved in Saudi Arabian real estate transactions.
Suggested Sections

1. Parties: Identification of the seller and purchaser with full legal names and details

2. Background: Context of the agreement and brief description of the transaction

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

4. Sale and Purchase: Core agreement to sell and purchase the unit, including property description

5. Purchase Price: Details of the purchase price and payment structure

6. Payment Terms: Schedule of payments, payment methods, and consequences of default

7. Completion: Conditions for completion and transfer of ownership

8. Seller's Obligations: Responsibilities and warranties of the seller

9. Purchaser's Obligations: Responsibilities and undertakings of the purchaser

10. Title and Ownership: Confirmation of title and transfer process

11. Property Condition: State of the property and any warranties regarding its condition

12. Registration: Process and requirements for legal registration of the property transfer

13. Default and Termination: Consequences of breach and termination rights

14. Notices: Communication procedures between parties

15. Governing Law: Confirmation of Saudi law application and jurisdiction

16. General Provisions: Standard boilerplate clauses including entire agreement, amendments, etc.

Optional Sections

1. Financing Arrangements: Include when purchaser is using external financing or installment payments

2. Off-Plan Provisions: Include for properties still under construction

3. Foreign Ownership Provisions: Include when purchaser is a non-Saudi national

4. Management and Service Charges: Include for units in managed developments or compounds

5. Defect Liability Period: Include for new properties with warranty period

6. Parking Rights: Include when parking spaces are part of the transaction

7. Common Areas: Include for properties in shared developments

8. Zakat and Tax Provisions: Include when specific tax arrangements need to be addressed

Suggested Schedules

1. Property Description: Detailed description of the unit including location, dimensions, and specifications

2. Payment Schedule: Detailed breakdown of payment installments and due dates

3. Title Deed Details: Copy or details of the title deed and registration information

4. Floor Plans: Architectural plans and drawings of the unit

5. Fixtures and Fittings: Inventory of included fixtures, fittings, and appliances

6. Building Rules and Regulations: Applicable building rules and community guidelines

7. Completion Certificate: Copy of completion certificate for finished properties

8. Due Diligence Documents: Copies of relevant permits, certificates, and compliance documents

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






















































Clauses




































Relevant Industries

Real Estate

Construction

Property Development

Legal Services

Banking & Finance

Property Management

Construction Management

Urban Development

Housing & Residential Development

Commercial Property

Relevant Teams

Legal

Real Estate

Sales

Compliance

Business Development

Property Management

Contracts Administration

Investment

Risk Management

Corporate Affairs

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Agent

Legal Counsel

Contracts Manager

Real Estate Developer

Property Development Manager

Compliance Officer

Real Estate Transaction Manager

Sales Manager

Business Development Manager

Investment Manager

Legal Director

Chief Legal Officer

Real Estate Investment Analyst

Property Consultant

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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