The Acknowledgement Receipt For Real Property Sales is a fundamental document in Saudi Arabian real estate transactions, required whenever a property sale occurs. It serves as official evidence of payment and intent to transfer ownership, combining elements of both payment receipt and preliminary transfer documentation. This document type is particularly important in Saudi Arabia's legal framework, where property transactions must comply with both civil law requirements and Sharia principles. It typically precedes the final property registration and includes crucial information such as party details, property specifications, and payment confirmation. The document is essential for protecting both buyers' and sellers' interests and is often required by banks, government authorities, and property registrars as part of the complete transaction documentation.
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1. Transaction Information: Date, location, and reference numbers of the transaction
2. Seller Details: Complete identification of the seller including full name, ID/Iqama number, and contact information
3. Buyer Details: Complete identification of the buyer including full name, ID/Iqama number, and contact information
4. Property Description: Detailed description of the property including title deed number, location, size, and boundaries
5. Transaction Amount: Clear statement of the full purchase price in both numbers and words
6. Payment Confirmation: Explicit acknowledgment of receipt of payment, including payment method and date
7. Legal Declaration: Statement confirming the legitimacy of the transaction and compliance with Saudi law
8. Signatures: Space for signatures of seller, buyer, and witnesses
1. Installment Payment Details: Required when payment is made in installments, detailing payment schedule and terms
2. Agent Authorization: Required when either party is represented by an agent, including agent's details and powers
3. Foreign Ownership Declaration: Required when the buyer is a non-Saudi national, confirming compliance with foreign ownership laws
4. VAT Declaration: Required for commercial properties or when VAT is applicable to the transaction
5. Mortgage Details: Required when the property has an existing mortgage or the purchase involves new mortgage financing
1. Property Documentation: Copies of title deed, property registration documents, and boundary maps
2. Payment Evidence: Copies of bank transfers, checks, or other payment confirmations
3. Identity Documents: Copies of IDs/Iqamas of all parties involved
4. Property Photos: Recent photographs of the property for verification purposes
5. Previous Receipts: If installment payments were made, copies of previous payment receipts
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Banking and Finance
Legal Services
Construction
Property Development
Investment and Asset Management
Property Management
Insurance
Government and Public Sector
Consulting Services
Relevant Teams
Legal
Real Estate
Compliance
Finance
Risk Management
Documentation
Property Management
Investment
Operations
Administrative Support
Relevant Roles
Real Estate Manager
Property Lawyer
Legal Counsel
Compliance Officer
Real Estate Agent
Property Developer
Investment Manager
Finance Manager
Property Registrar
Notary Public
Real Estate Transaction Coordinator
Documentation Specialist
Risk Manager
Title Officer
Contract Administrator
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