The Post Possession Agreement serves as a critical legal instrument in Indonesian property transactions where circumstances necessitate early possession of property before completing the full transfer of ownership. This situation commonly arises in cases of staggered payments, pending administrative requirements, or specific arrangements between parties. The agreement, governed by Indonesian law including the Civil Code (KUHPerdata) and Basic Agrarian Law (UUPA), provides a comprehensive framework detailing possession terms, payment schedules, maintenance responsibilities, and risk allocation. It protects both parties' interests during the interim period and ensures compliance with local property regulations. The document is particularly important in Indonesia's property market where complex regulatory requirements can lead to extended periods between initial agreement and final property transfer.
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1. Parties: Identification of the seller and buyer, including their complete legal names, addresses, and any relevant registration numbers
2. Background: Context of the agreement, including reference to the main sale agreement and reason for early possession
3. Definitions: Key terms used throughout the agreement, including 'Possession Date', 'Completion Date', 'Property', etc.
4. Possession Terms: Specific conditions under which possession is granted, including date of possession and duration
5. Payment Terms: Details of any possession fees, utility payments, and remaining purchase price installments
6. Obligations of the Buyer: Responsibilities of the buyer during possession period, including maintenance, insurance, and permitted use
7. Obligations of the Seller: Continuing responsibilities of the seller until final transfer of ownership
8. Risk and Insurance: Allocation of risk and required insurance coverage during the possession period
9. Utilities and Maintenance: Responsibilities for utility connections, payments, and property maintenance
10. Default and Remedies: Consequences of breach and available remedies for both parties
11. Governing Law: Confirmation of Indonesian law application and jurisdiction
12. Execution: Signature blocks and execution requirements
1. Renovation Rights: Include when buyer is permitted to make alterations during possession period
2. Property Access: Include when seller needs to retain specific access rights during possession period
3. Early Termination: Include when parties want specific provisions for early termination of possession
4. Third Party Rights: Include when there are existing tenants or other third-party rights affecting the property
5. Environmental Matters: Include for properties with specific environmental considerations or requirements
6. Force Majeure: Include when specific force majeure provisions are needed beyond standard terms
7. Dispute Resolution: Include when parties want specific dispute resolution procedures beyond court jurisdiction
1. Schedule 1 - Property Details: Detailed description of the property including address, boundaries, and certificates
2. Schedule 2 - Inventory List: List of fixtures, fittings, and contents included in the possession
3. Schedule 3 - Payment Schedule: Detailed breakdown of all payments including possession fees and purchase installments
4. Schedule 4 - Condition Report: Documentation of property condition at time of possession
5. Schedule 5 - Insurance Requirements: Specific insurance requirements and minimum coverage details
6. Appendix A - Property Certificates: Copies of relevant property certificates and permits
7. Appendix B - Main Sale Agreement: Copy of the main sale and purchase agreement referenced
8. Appendix C - Handover Protocol: Specific procedures for taking possession and final handover
Relevant legal definitions
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Relevant Industries
Real Estate
Property Development
Banking & Finance
Construction
Hospitality
Retail
Manufacturing
Commercial Property
Residential Property
Industrial Property
Relevant Teams
Legal
Real Estate
Compliance
Risk Management
Facilities Management
Property Management
Business Development
Corporate Affairs
Operations
Asset Management
Relevant Roles
Real Estate Manager
Property Developer
Legal Counsel
Contract Manager
Property Manager
Facilities Manager
Real Estate Agent
Corporate Lawyer
Compliance Officer
Risk Manager
Property Administrator
Business Development Manager
Transaction Manager
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