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The Agreement For Sale Of Immovable Property is a fundamental legal document used in Saudi Arabian real estate transactions to formalize the transfer of property ownership between parties. This agreement is essential for any property sale transaction in Saudi Arabia, whether residential, commercial, or industrial. It must comply with both civil law requirements and Sharia principles, which form the basis of Saudi Arabia's legal system. The document covers crucial elements including property details, purchase price, payment terms, warranties, and completion requirements, while ensuring compliance with local municipality regulations, registration requirements, and foreign ownership restrictions where applicable. It serves as the primary evidence of the transaction and is required for official property registration with Saudi authorities.

1. Parties: Identification of the seller and purchaser, including full legal names, addresses, and ID/registration numbers as required under Saudi law

2. Background: Context of the transaction, including brief property description and intention to sell/purchase

3. Definitions: Key terms used throughout the agreement, including property-specific terminology and Saudi legal terms

4. Property Description: Detailed description of the property, including location, dimensions, deed number, and registration details

5. Purchase Price: Amount, currency, payment terms, and method of payment in compliance with Sharia principles

6. Payment Terms: Schedule of payments, deposit requirements, and final settlement arrangements

7. Completion: Process and requirements for completing the sale, including registration requirements and timing

8. Seller's Warranties: Warranties regarding ownership, absence of encumbrances, and compliance with Saudi property laws

9. Property Condition: Current state of the property and any agreed repairs or modifications

10. Title and Registration: Process for title transfer and registration with relevant Saudi authorities

11. Risk and Insurance: Transfer of risk and insurance requirements during the transaction period

12. Default and Termination: Consequences of default and termination rights

13. Governing Law and Jurisdiction: Confirmation of Saudi law application and dispute resolution mechanisms

14. Notices: Method and addresses for formal communications between parties

15. General Provisions: Standard contract clauses adapted to Saudi legal requirements