Ƶ

Buy Sell Agreement Between Co Owners Of Real Property for Saudi Arabia

Buy Sell Agreement Between Co Owners Of Real Property Template for Saudi Arabia

A comprehensive legal agreement governed by Saudi Arabian law and Sharia principles that establishes the terms and conditions under which co-owners of real property can buy or sell their respective ownership interests. The document outlines triggering events, valuation methods, transfer procedures, and payment terms while ensuring compliance with Saudi real estate regulations and registration requirements. It includes specific provisions for ownership transfer, dispute resolution, and mandatory procedures under Saudi law, incorporating both traditional Islamic principles and modern commercial practices.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Buy Sell Agreement Between Co Owners Of Real Property

Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.

What is a Buy Sell Agreement Between Co Owners Of Real Property?

The Buy Sell Agreement Between Co-Owners of Real Property is a crucial document used in Saudi Arabia when multiple parties own real estate together and wish to establish clear mechanisms for ownership transfers. This agreement becomes essential in situations involving joint property ownership, whether for investment, commercial, or residential purposes. It addresses key aspects such as triggering events for sales, valuation methods, transfer procedures, and payment terms, all while ensuring compliance with Saudi Arabian law and Sharia principles. The document is particularly relevant in the context of Saudi Arabia's Vision 2030 reforms, which have modernized real estate transactions while maintaining traditional legal requirements. It provides security and clarity for co-owners by establishing predetermined procedures for ownership changes, helping prevent potential disputes and ensuring smooth transitions when ownership changes are necessary.

What sections should be included in a Buy Sell Agreement Between Co Owners Of Real Property?

1. Parties: Identification of all co-owners participating in the agreement, including their full legal names, addresses, and national ID numbers as required by Saudi law

2. Background: Brief description of the current ownership structure, property details, and purpose of entering into this agreement

3. Definitions: Definitions of key terms used throughout the agreement, including specific Arabic legal terms required under Saudi law

4. Property Description: Detailed description of the real property, including its location, dimensions, deed number, and registration details as per Saudi property registration requirements

5. Current Ownership Structure: Specification of current ownership percentages and rights of each co-owner

6. Buy-Sell Provisions: Core terms governing when and how ownership interests can be transferred between co-owners

7. Triggering Events: Specific circumstances that activate the buy-sell provisions

8. Valuation Method: Agreed mechanism for determining the property value when buy-sell provisions are triggered

9. Purchase Price and Payment Terms: Terms for calculating the purchase price and specified payment conditions

10. Transfer Process: Procedures for executing the transfer of ownership, including required governmental registrations

11. Representations and Warranties: Statements of fact and promises by each party regarding their authority, ownership, and the property's condition

12. Governing Law and Jurisdiction: Specification of Saudi law as governing law and relevant courts for dispute resolution

13. Notices: Procedures for formal communications between parties

14. Execution: Signature requirements and execution formalities as per Saudi law

What sections are optional to include in a Buy Sell Agreement Between Co Owners Of Real Property?

1. Right of First Refusal: Optional section detailing process for offering shares to existing co-owners before external sale, recommended when parties want to maintain control over ownership composition

2. Management Rights: Optional provisions governing property management decisions, recommended for properties requiring active management

3. Profit Distribution: Optional section detailing how rental income or other profits are distributed, recommended for income-generating properties

4. Insurance Requirements: Optional section specifying insurance obligations, recommended for high-value properties

5. Mortgage Provisions: Optional section addressing existing or future mortgage arrangements, needed if property is or may be mortgaged

6. Sharia Compliance Declaration: Optional detailed section confirming compliance with Islamic principles, recommended for traditional parties or Islamic financing

7. Tax Matters: Optional section addressing tax responsibilities, recommended when complex tax implications exist

What schedules should be included in a Buy Sell Agreement Between Co Owners Of Real Property?

1. Property Details Schedule: Detailed technical description of the property, including maps, plans, and registration documents

2. Ownership Schedule: Current ownership percentages and historical ownership information

3. Valuation Methodology: Detailed procedures for property valuation, including appointed valuers and specific methods

4. Required Notices and Forms: Templates for various notices and forms required under the agreement

5. Power of Attorney: Standard form of power of attorney for property transfers

6. Property Management Schedule: Details of property management arrangements if applicable

7. Registration Requirements: Checklist of documents required for property transfer registration with Saudi authorities

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Saudi Arabia

Publisher

Ƶ

Document Type

Buy-Sell Agreement

Cost

Free to use
Relevant legal definitions





































Clauses




































Relevant Industries

Real Estate

Property Development

Construction

Investment Management

Banking & Finance

Professional Services

Hospitality

Retail

Industrial

Commercial Property

Relevant Teams

Legal

Real Estate

Compliance

Finance

Investment

Risk Management

Property Management

Corporate Affairs

Business Development

Operations

Relevant Roles

Real Estate Manager

Property Investment Director

Legal Counsel

Compliance Officer

Chief Financial Officer

Investment Manager

Asset Manager

Property Portfolio Manager

Real Estate Development Director

Corporate Lawyer

Property Rights Specialist

Transaction Manager

Risk Management Officer

Property Valuation Expert

Business Development Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Simple Buy Sell Agreement (Real Estate)

A Saudi Arabian law-governed agreement for the sale and purchase of real estate property, outlining key terms and conditions while ensuring compliance with local regulations and Sharia principles.

find out more

Buy And Sell Agreement (Real Estate)

A Saudi Arabian real estate purchase agreement that details property transfer terms, compliant with local law and Sharia principles.

find out more

Simple Purchase Agreement For House

A Saudi Arabian law-compliant agreement for the purchase and sale of residential property, outlining key terms and conditions for property transfer.

find out more

Agreement To Buy And Sell (Real Estate)

A Saudi Arabian law-governed agreement for the sale and purchase of real estate property, compliant with Shariah principles and local regulations.

find out more

Agreement To Purchase Property

A legally binding agreement for property purchase and transfer in Saudi Arabia, conforming to local laws and Sharia principles.

find out more

Contract For The Sale And Purchase Of (Real Estate)

A Saudi Arabian law-compliant agreement for the sale and purchase of real estate property, incorporating both local regulations and Shariah principles.

find out more

Buy And Sell Agreement Life (Insurance)

A Saudi Arabian-compliant Buy and Sell Agreement with life insurance provisions, combining business succession planning with Shariah-compliant insurance funding mechanisms.

find out more

Shop Sales Agreement

A Saudi Arabian law-governed agreement for the sale and transfer of a retail business, ensuring compliance with local regulations and Sharia principles.

find out more

Agreement For Purchase Of Goods

A Saudi law-governed agreement setting out terms and conditions for the sale and purchase of goods, compliant with local regulations and Sharia principles.

find out more

Sell And Purchase Agreement

A Saudi law-governed agreement documenting the sale and purchase of assets between parties, incorporating local commercial and Sharia law requirements.

find out more

Agreement Of Sale Of Immovable Property

A comprehensive property sale agreement governed by Saudi law and Shariah principles, documenting the transfer of immovable property ownership in Saudi Arabia.

find out more

Used Car Sale Contract

A Saudi Arabia-compliant Used Car Sale Contract for legally transferring vehicle ownership, suitable for both private and commercial transactions.

find out more

Sale And Purchase Agreement Of Shares

A Saudi law-governed agreement for the sale and purchase of company shares, incorporating all necessary terms and conditions in compliance with local regulations and Sharia principles.

find out more

Home For Sale By Owner Contract

A Saudi Arabian legal agreement for direct property sales between private individuals, compliant with local property law and Sharia principles.

find out more

Simple Land Sale Agreement

A Shariah-compliant land sale agreement for property transfers in Saudi Arabia, incorporating local legal requirements and Islamic principles.

find out more

Sales With Buyback Agreement

A Sharia-compliant agreement under Saudi Arabian law governing the sale of assets with predetermined buyback terms and conditions.

find out more

Purchase Agreement For Sale By Owner

A Saudi Arabian law-compliant agreement for direct property sale between owner and buyer, detailing transaction terms and transfer procedures.

find out more

Buy Sell Agreement For Small Business

A Saudi Arabian law-governed agreement for the sale and purchase of a small business, detailing transaction terms and ownership transfer requirements.

find out more

Business Buy Out Agreement

A Saudi Arabian law-governed agreement for the purchase and sale of a business entity or its assets, ensuring compliance with local regulations and commercial requirements.

find out more

Used Car Buy Sell Agreement

A Saudi Arabian law-governed agreement for the sale and purchase of used vehicles, ensuring compliant transfer of ownership and protecting both parties' interests.

find out more

Simple Residential Purchase Agreement

A Sharia-compliant residential property purchase agreement for use in Saudi Arabia, covering essential terms of sale and transfer requirements under Saudi law.

find out more

Contract To Buy And Sell Real Estate Residential

Saudi Arabian residential real estate purchase and sale agreement compliant with local laws and Sharia principles.

find out more

Residential Purchase And Sale Agreement

A Saudi Arabian law-governed agreement for the sale and purchase of residential property, outlining terms, conditions, and requirements for property transfer.

find out more

Agreement For The Sale Of A Business

A Saudi Arabian law-governed agreement detailing the terms and conditions for the complete transfer of business ownership from seller to purchaser.

find out more

Immovable Property Sale Agreement

A comprehensive property sale agreement compliant with Saudi law and Sharia principles, detailing terms and conditions for immovable property transfer in Saudi Arabia.

find out more

Lot Land Purchase And Sale Agreement

A Saudi Arabian law-governed agreement for the sale and purchase of lot land, detailing property transfer terms and conditions in compliance with local regulations.

find out more

Private Home Sale Contract

A legal agreement for private residential property sale in Saudi Arabia, compliant with Saudi law and Sharia principles.

find out more

Stock Purchase And Sale Agreement

A Saudi Arabian law-governed agreement documenting the terms and conditions for the purchase and sale of company shares, ensuring compliance with local regulations and Shariah principles.

find out more

Simple Agreement Of Sale

A straightforward purchase and sale agreement compliant with Saudi Arabian law and Sharia principles, used for commercial transactions.

find out more

Buy Sell Agreement Between Co Owners Of Real Property

A Saudi Arabian law-governed agreement establishing terms for buying and selling ownership interests between co-owners of real property, compliant with Sharia principles.

find out more

Agreement For Flat Purchase

A Saudi Arabian law-governed agreement for the sale and purchase of residential flats, detailing terms, conditions, and regulatory compliance requirements.

find out more

Private Property Sale Agreement

A Saudi Arabian legal agreement for the sale and transfer of private property ownership, compliant with Sharia law and local regulations.

find out more

Simple Purchase And Sale Agreement

A Saudi Arabian law-compliant agreement facilitating the sale and purchase of goods between parties, incorporating essential commercial terms and Sharia principles.

find out more

Bill Of Sale For Asset Purchase Agreement

A legal document under Saudi Arabian law that formalizes and evidences the transfer of asset ownership from seller to buyer, detailing sale terms and conditions.

find out more

Agreement To Purchase Contract

A Sharia-compliant purchase agreement under Saudi Arabian law detailing terms, conditions, and obligations for the transfer of assets or property between parties.

find out more

Deed Of Agreement For Sale Of Land

A legally binding agreement under Saudi Arabian law that documents and enables the transfer of land ownership from seller to purchaser, incorporating both Shariah and modern legal requirements.

find out more

Shareholder Buy Sell Agreement

A Saudi Arabian law-governed agreement establishing terms for share transfers between shareholders, incorporating both corporate and Shariah law requirements.

find out more

Sale And Purchase Deed

A legal document used in Saudi Arabia for transferring property ownership from seller to buyer, compliant with Saudi law and Sharia principles.

find out more

Apartment Sales Contract

A Saudi Arabian law-compliant contract for the sale and purchase of residential apartments, incorporating local real estate regulations and Shariah principles.

find out more

Simple Vacant Land Purchase Agreement

A legal agreement for the purchase and sale of vacant land in Saudi Arabia, complying with local laws and Sharia principles.

find out more
See more related templates

ұԾ’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ұԾ’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it