The Contract To Sell Land By Owner is a fundamental legal document used in Saudi Arabian real estate transactions when a property owner wishes to sell land directly to a buyer. This document is essential for both private individuals and corporations engaged in real estate transactions within Saudi Arabia. It must comply with both Sharia law principles and Saudi Arabian real estate regulations, including the Real Estate Registration Law and relevant municipal requirements. The contract includes crucial elements such as property details, payment terms, warranties, and transfer procedures. It's particularly important in Saudi Arabia where real estate transactions must follow specific legal procedures and documentation requirements. The document is designed to protect both parties' interests while ensuring compliance with local property laws, zoning regulations, and foreign ownership restrictions where applicable.
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1. Parties: Identification of the seller and buyer with full legal names, addresses, and ID/CR numbers
2. Background: Context of the sale and brief description of the property being sold
3. Definitions: Key terms used throughout the agreement including Property, Completion Date, Purchase Price, etc.
4. Property Description: Detailed legal description of the land including title deed number, location, boundaries, and total area
5. Purchase Price: Agreement on price, payment terms, and method of payment
6. Payment Terms: Schedule of payments including deposits, installments, and final payment
7. Seller's Warranties: Warranties regarding ownership, absence of encumbrances, and legal authority to sell
8. Property Condition: Current condition of the property and any agreed modifications before transfer
9. Closing Requirements: Steps required to complete the transfer including documentation and registration
10. Transfer of Ownership: Process and timing for legal transfer of title
11. Costs and Taxes: Allocation of transaction costs, fees, and applicable taxes
12. Default and Remedies: Consequences of breach and available remedies
13. Governing Law: Confirmation of Saudi law and Sharia compliance
14. Execution: Signature blocks and attestation requirements
1. Due Diligence Period: Optional period for buyer to conduct property investigations, used when buyer requires time for verification
2. Financing Contingency: Conditions related to buyer obtaining financing, included when purchase depends on mortgage approval
3. Property Inspection: Right to inspect and consequences of inspection, used for properties with structures
4. Vacant Possession: Terms for delivering property free from occupants, needed if property is currently occupied
5. Environmental Matters: Environmental warranties and indemnities, important for industrial or potentially contaminated land
6. Development Rights: Transfer of development rights or permits, relevant for undeveloped land
7. Foreign Ownership Compliance: Additional provisions for foreign buyers, required when buyer is non-Saudi
8. Broker Provisions: Terms relating to real estate brokers, included if brokers are involved in the transaction
1. Property Title Deed: Copy of official title deed showing current ownership
2. Property Plan: Official survey plan showing boundaries and dimensions
3. Payment Schedule: Detailed breakdown of payment installments and dates
4. Property Photographs: Current photographs documenting property condition
5. Municipality Certificates: Relevant municipal approvals and certificates
6. Due Diligence Documents: Property verification documents including zoning certificates
7. Power of Attorney: If applicable, authorization documents for representatives
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Construction
Agriculture
Industrial Development
Commercial Property
Residential Property
Infrastructure
Urban Planning
Investment
Relevant Teams
Legal
Real Estate
Compliance
Property Management
Business Development
Investment
Operations
Risk Management
Asset Management
Corporate Affairs
Relevant Roles
Real Estate Manager
Property Development Director
Legal Counsel
Compliance Officer
Land Acquisition Manager
Real Estate Broker
Property Investment Manager
Real Estate Attorney
Business Development Manager
Property Rights Manager
Asset Manager
Facilities Manager
Real Estate Operations Director
Investment Analyst
Risk Manager
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