The Property Transfer Contract is a fundamental legal instrument used in Saudi Arabia for documenting and executing the transfer of real property ownership. This document is essential when conducting any property sale or transfer transaction within Saudi jurisdiction, whether for residential, commercial, or industrial properties. 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 details crucial elements such as property specifications, ownership rights, payment terms, and transfer procedures, while ensuring all necessary legal protections for both parties. It's particularly important as Saudi Arabia continues to develop its real estate market and attract both domestic and foreign investment, subject to applicable ownership restrictions and regulations.
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1. Parties: Identification of the seller (transferor) and buyer (transferee) with full legal names, national ID numbers/commercial registration numbers, and contact details
2. Background: Context of the transfer and brief description of the property being transferred
3. Definitions: Definitions of key terms used throughout the contract
4. Property Details: Comprehensive description of the property including location, dimensions, deed number, and plot number
5. Purchase Price and Payment Terms: Agreed purchase price, payment schedule, and method of payment
6. Transfer of Ownership: Terms and process of transferring legal title and possession
7. Seller's Representations and Warranties: Seller's declarations regarding property ownership, absence of encumbrances, and legal authority to sell
8. Buyer's Acknowledgments: Buyer's confirmation of property inspection and acceptance of condition
9. Completion Requirements: Steps required to complete the transfer, including registration and documentation
10. Costs and Taxes: Allocation of transfer fees, taxes, and other associated costs
11. Governing Law and Jurisdiction: Confirmation of Saudi law application and jurisdiction
12. Execution: Signature requirements and execution process
1. Foreign Ownership Compliance: Required when buyer is non-Saudi, detailing compliance with foreign ownership regulations
2. Mortgage Details: Required when property has existing mortgage or new mortgage arrangements
3. Power of Attorney: Required when any party is acting through an authorized representative
4. Condition Precedents: Required when transfer is subject to specific conditions being met
5. Property Management Handover: Required for properties with existing management arrangements or tenancies
6. Development Obligations: Required when property transfer includes development commitments
7. Municipal Approvals: Required when property transfer requires specific municipal clearances
1. Property Title Deed: Copy of original title deed and translation if required
2. Property Plans: Official property plans, boundaries, and survey documents
3. Payment Schedule: Detailed breakdown of payment terms and installments if applicable
4. Property Inspection Report: Technical report on property condition and any defects
5. Existing Tenancy Details: List of current tenants and lease terms if applicable
6. Required Permits: Copies of relevant permits and approvals
7. Municipality Certificates: Relevant certificates from municipal authorities
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Construction
Banking & Finance
Legal Services
Public Sector
Investment
Commercial Property
Residential Property
Urban Development
Relevant Teams
Legal
Real Estate
Compliance
Property Management
Investment
Operations
Finance
Risk Management
Business Development
Administration
Relevant Roles
Real Estate Manager
Property Lawyer
Legal Counsel
Compliance Officer
Real Estate Agent
Property Developer
Investment Manager
Real Estate Investment Director
Property Portfolio Manager
Transaction Manager
Real Estate Operations Manager
Contract Administrator
Property Registrar
Notary Public
Real Estate Finance Manager
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