The Apartment Sale And Purchase Contract is a crucial legal document used in Indonesian real estate transactions for the transfer of apartment ownership. This document is essential when selling or purchasing apartment units in Indonesia, whether the transaction involves individual sellers, buyers, or property developers. It must comply with Indonesian property laws, particularly Law No. 20 of 2011 on Flats and the Indonesian Civil Code. The contract includes detailed specifications of the property, payment terms, warranties, and obligations regarding common areas and maintenance. It's particularly important in urban areas where apartment living is common, and can be adapted for both new developments and resale properties. The document needs to address specific Indonesian requirements for property transfer, including notarization requirements and registration procedures.
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1. Parties: Identification of the Seller and Buyer with complete legal names, addresses, and identification numbers
2. Background: Context of the transaction, including brief description of the property and intention to sell/purchase
3. Definitions: Definitions of key terms used throughout the agreement
4. Object of Sale: Detailed description of the apartment unit, including unit number, floor, building name, and total area
5. Purchase Price: Total purchase price, payment schedule, and payment method
6. Terms of Payment: Detailed payment structure including deposit, installments, and final payment arrangements
7. Rights and Obligations: Comprehensive list of rights and obligations of both parties
8. Handover: Conditions and timeline for the handover of the apartment unit
9. Representations and Warranties: Seller's warranties regarding property title, condition, and legal status
10. Common Areas and Facilities: Rights and obligations regarding common areas and shared facilities
11. Maintenance Fees: Details of maintenance fees, service charges, and sinking fund contributions
12. Default and Termination: Consequences of default and conditions for contract termination
13. Force Majeure: Provisions for unforeseen circumstances affecting contract performance
14. Dispute Resolution: Procedures for resolving disputes, including jurisdiction and governing law
15. Notices: Methods and addresses for official communications between parties
16. Governing Law: Specification of Indonesian law as the governing law
17. Miscellaneous: Standard boilerplate provisions including severability, entire agreement, and amendments
1. Mortgage Financing: Include when buyer is using bank financing, detailing conditions and requirements
2. Foreign Ownership Provisions: Include when buyer is a foreigner, addressing specific requirements under Indonesian law
3. Developer Warranties: Include for new apartments, specifying developer's warranties and defect liability period
4. Strata Title Registration: Include when strata title is not yet issued, detailing the process and timeline
5. Broker Provisions: Include when a property broker is involved in the transaction
6. Furniture and Fittings: Include when sale includes furniture or specific fittings
7. Parking Space: Include when specific parking spaces are included in the sale
8. Pre-existing Tenancy: Include when the apartment has existing tenants
1. Schedule A - Property Details: Detailed technical specifications of the apartment, floor plans, and measurement certificates
2. Schedule B - Payment Schedule: Detailed breakdown of payment installments and due dates
3. Schedule C - Inventory List: List of fixtures, fittings, and furniture included in the sale (if applicable)
4. Schedule D - Building Rules: Copy of building management rules and regulations
5. Schedule E - Property Certificates: Copies of relevant property certificates and permits
6. Schedule F - Maintenance Agreement: Terms of building maintenance and service charges
7. Appendix 1 - Property Photos: Current photographs of the apartment unit and common areas
8. Appendix 2 - Due Diligence Documents: Copies of land certificates, building permits, and other legal documents
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Construction
Banking & Finance
Legal Services
Property Management
Real Estate Investment
Residential Development
Relevant Teams
Legal
Real Estate
Sales
Compliance
Property Management
Contract Administration
Business Development
Risk Management
Finance
Operations
Relevant Roles
Real Estate Manager
Property Developer
Legal Counsel
Real Estate Agent
Property Manager
Sales Director
Compliance Officer
Contract Administrator
Real Estate Investment Manager
Property Development Director
Legal Director
Notary Public
Bank Officer
Real Estate Broker
Building Manager
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