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Absolute Sale Deed
"I need an Absolute Sale Deed for the transfer of a commercial warehouse property in Riyadh Industrial City from my company to a local Saudi corporation, with completion scheduled for March 2025, including provisions for existing tenant arrangements."
1. Parties: Identification of the Seller and Buyer with complete legal names, identification numbers, and addresses as per Saudi requirements
2. Background: Brief context of the sale transaction and confirmation of the Seller's ownership rights
3. Definitions: Key terms used in the deed including Property, Purchase Price, Completion Date, and other relevant terms
4. Property Description: Detailed description of the property including exact location, boundaries, dimensions, and deed number as registered with relevant authorities
5. Sale Declaration: Clear statement of absolute and irrevocable sale of the property from Seller to Buyer
6. Purchase Price: Stated consideration and confirmation of payment or payment terms
7. Seller's Warranties: Warranties regarding ownership, absence of encumbrances, and authority to sell
8. Possession and Risk: Terms of property handover and transfer of risk
9. Registration and Transfer: Process and obligations for official property registration transfer
10. Governing Law: Confirmation of Saudi Law and Sharia compliance
11. Execution: Formal execution block meeting Saudi notarization requirements
1. Condition of Property: Used when specific property conditions need to be documented or acknowledged
2. Existing Tenancies: Required when the property is subject to existing lease agreements
3. Foreign Ownership Compliance: Necessary when buyer is a foreign entity or individual
4. Municipality Approvals: Required when specific municipal permits or approvals are pending
5. Utilities Transfer: Used when specific arrangements for utilities transfer need to be documented
6. Tax Matters: Required when there are specific tax implications to be addressed
7. Intermediary Declaration: Required when real estate brokers or agents are involved in the transaction
1. Property Title Deed: Copy of original title deed and registration details
2. Property Plans: Official property plans, surveys, and drawings
3. Payment Records: Documentation of purchase price payment
4. Identity Documents: Copies of parties' identification documents and authorization documents
5. Municipality Certificates: Relevant certificates from municipality regarding property status
6. Property Photographs: Recent photographs documenting property condition
7. Previous Deeds: Historical ownership documents if relevant
Authors
Real Estate
Construction
Banking & Finance
Legal Services
Property Development
Hospitality
Retail
Industrial
Commercial Property
Residential Property
Infrastructure
Legal
Real Estate
Compliance
Property Management
Corporate Affairs
Finance
Operations
Asset Management
Facilities Management
Risk Management
Real Estate Lawyer
Property Manager
Legal Counsel
Compliance Officer
Real Estate Agent
Property Developer
Corporate Lawyer
Notary Public
Real Estate Transaction Manager
Property Registration Officer
Legal Director
Real Estate Investment Manager
Asset Manager
Facilities Manager
Corporate Secretary
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