The Property Release Agreement serves as a crucial legal instrument in Indonesian property transactions, used when transferring or releasing rights to real property. This document is essential in situations ranging from simple property transfers to complex real estate developments. It must conform to Indonesian legal requirements, including the Civil Code and Basic Agrarian Law, while incorporating specific provisions for property rights transfer, payment terms, and regulatory compliance. The agreement typically requires formal registration with local land offices and may need notarization to be legally binding. Property Release Agreements are particularly important in Indonesia due to the country's unique property ownership system and strict regulations regarding property transfers, especially involving foreign interests.
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1. Parties: Identification of the property owner (Releasor) and the party receiving the release (Releasee), including their full legal names, addresses, and any relevant registration numbers
2. Background: Context of the agreement, including brief history of property ownership and purpose of the release
3. Definitions: Definitions of key terms used throughout the agreement, including 'Property', 'Release Date', and other relevant terms
4. Property Details: Detailed description of the property being released, including address, land certificate number, and boundaries
5. Release Terms: Core terms of the release, including the scope of rights being released and any reservations
6. Consideration: Details of payment or other consideration for the release, including amount and payment terms
7. Representations and Warranties: Statements by the Releasor regarding ownership, authority to release, and property condition
8. Handover: Process and timing for physical handover of the property and transfer of documentation
9. Tax Obligations: Allocation of responsibility for property transfer taxes and other related costs
10. Governing Law: Specification of Indonesian law as governing law and relevant jurisdiction
11. Execution: Signature blocks and execution requirements, including any notarization requirements
1. Existing Tenancies: Required when the property is subject to existing lease agreements or tenancies
2. Environmental Matters: Needed when the property has known environmental issues or requires environmental clearances
3. Encumbrances: Required when there are existing mortgages, liens, or other encumbrances on the property
4. Third Party Consents: Needed when the release requires approval from government authorities or other third parties
5. Special Conditions: For properties with unique features or requirements, such as heritage listings or development restrictions
6. Dispute Resolution: Optional detailed dispute resolution procedures beyond standard court jurisdiction
7. Force Majeure: May be included for releases that occur over time or involve ongoing obligations
1. Property Description Schedule: Detailed technical description of the property, including exact measurements, boundaries, and registered details
2. Title Documents: Copies of land certificates and other ownership documentation
3. Property Plans: Site plans, building plans, and other relevant drawings
4. Inventory: List of any fixtures, fittings, or other items included in the release
5. Due Diligence Results: Summary of property searches and due diligence findings
6. Required Permits: Copies of relevant permits, certificates, and governmental approvals
7. Payment Schedule: If payment is in installments, detailed payment terms and dates
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Construction
Banking and Finance
Legal Services
Commercial Property
Residential Property
Industrial Property
Hospitality
Retail
Infrastructure Development
Relevant Teams
Legal
Real Estate
Property Management
Facilities Management
Corporate Affairs
Compliance
Asset Management
Investment
Development
Operations
Risk Management
Relevant Roles
Real Estate Manager
Property Developer
Legal Counsel
Corporate Lawyer
Property Manager
Land Acquisition Manager
Real Estate Agent
Facilities Manager
Asset Manager
Development Director
Property Rights Specialist
Compliance Officer
Real Estate Transaction Manager
Property Investment Manager
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