The Co-Purchase Agreement is essential when two or more parties wish to jointly purchase and own an asset in Indonesia. This document is commonly used in various contexts, from real estate acquisitions to equipment purchases, and must comply with Indonesian legal requirements, particularly the Civil Code (KUHPerdata) and relevant property laws. The agreement comprehensively addresses crucial aspects such as ownership structure, financial contributions, management rights, usage terms, and exit mechanisms. It serves as a foundational document that prevents future disputes by clearly defining each party's rights and obligations, establishing decision-making processes, and outlining procedures for handling various scenarios that may arise during the co-ownership period. The agreement becomes particularly important in the Indonesian context where specific regulations govern property ownership, especially involving foreign nationals or corporate entities.
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1. Parties: Identification and details of all co-purchasers participating in the agreement
2. Background: Context of the co-purchase arrangement and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Purchase Details: Description of the asset being purchased and its key characteristics
5. Ownership Structure: Specification of ownership shares and rights of each co-purchaser
6. Purchase Price and Payment: Total purchase price, payment structure, and contribution requirements from each co-purchaser
7. Financial Obligations: Ongoing financial responsibilities including maintenance costs, taxes, and other expenses
8. Management and Decision Making: Procedures for making decisions about the asset and day-to-day management
9. Usage Rights: Rules governing how co-purchasers can use or access the asset
10. Transfer of Rights: Procedures and restrictions for transferring ownership rights
11. Default and Remedies: Consequences and remedies for breach of agreement or payment default
12. Term and Termination: Duration of the agreement and circumstances for termination
13. Dispute Resolution: Procedures for resolving disputes between co-purchasers
14. Governing Law: Specification of Indonesian law as governing law and jurisdiction
15. General Provisions: Standard boilerplate clauses including notices, amendments, and severability
1. Property Management Agreement: Required when co-purchasers agree to employ a property manager or management company
2. Mortgage and Financing: Needed when the purchase involves external financing or mortgages
3. Insurance Requirements: Detailed insurance obligations when the asset requires specific insurance coverage
4. Right of First Refusal: Optional mechanism giving co-purchasers priority rights to purchase others' shares
5. Buy-Sell Provisions: Detailed procedures for buying out other co-purchasers, including valuation methods
6. Foreign Ownership Provisions: Required when one or more co-purchasers are foreign nationals
7. Special Use Provisions: Needed for assets with specific use restrictions or requirements
8. Rental Income Distribution: Required when the asset will be rented out and generate income
1. Schedule A - Asset Details: Detailed description and specifications of the purchased asset
2. Schedule B - Ownership Percentages: Detailed breakdown of ownership shares and contribution amounts
3. Schedule C - Payment Schedule: Timeline and structure of payments from each co-purchaser
4. Schedule D - Management Procedures: Detailed procedures for asset management and decision-making
5. Schedule E - Maintenance Standards: Required maintenance standards and procedures
6. Appendix 1 - Asset Documentation: Copies of relevant asset documentation, certificates, and permits
7. Appendix 2 - Financial Statements: Initial financial statements and contribution records
8. Appendix 3 - Contact Information: Detailed contact information for all co-purchasers and relevant parties
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Commercial Property
Residential Property
Manufacturing
Retail
Agriculture
Transportation
Industrial Equipment
Hospitality
Technology
Aviation
Maritime
Relevant Teams
Legal
Real Estate
Finance
Procurement
Compliance
Risk Management
Operations
Business Development
Investment
Asset Management
Corporate Affairs
Property Management
Relevant Roles
Legal Counsel
Property Manager
Real Estate Director
Asset Manager
Finance Manager
Investment Manager
Business Development Manager
Corporate Lawyer
Compliance Officer
Risk Manager
Operations Director
Chief Financial Officer
Property Developer
Procurement Manager
Contract Administrator
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