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Deed Of Sale Condo

Deed Of Sale Condo Template for Saudi Arabia

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Key Requirements PROMPT example:

Deed Of Sale Condo

"I need a standard Deed of Sale Condo for a new 2-bedroom unit in Riyadh's Al Olaya district, with a straightforward cash purchase to be completed by March 2025."

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Document background
The Deed of Sale Condo is a crucial legal instrument used in Saudi Arabian real estate transactions to transfer ownership of condominium units. This document is essential when selling or purchasing individual units within a larger building or development complex in Saudi Arabia. It must comply with both civil law requirements and Sharia principles, incorporating recent reforms under Vision 2030. The deed includes comprehensive details about the property, parties involved, payment terms, and common area rights, while ensuring compliance with the Law of Ownership of Real Estate Units and Their Subdivision. This document is particularly important given Saudi Arabia's growing focus on residential property development and the increasing popularity of condominium living in urban areas. The Deed of Sale Condo must be properly notarized and registered with relevant authorities to ensure legal validity and proper transfer of ownership.
Suggested Sections

1. Parties: Identification of the seller and purchaser with full legal names, national ID numbers/commercial registration numbers, and addresses

2. Background: Brief context of the property ownership and intention to sell/purchase

3. Definitions: Key terms used throughout the deed including Property, Common Areas, Transfer Date, etc.

4. Property Description: Detailed description of the condominium unit, including unit number, floor, building details, and registered title information

5. Sale and Purchase: Core transaction terms including the agreement to sell and purchase

6. Purchase Price: Statement of the purchase price and payment terms

7. Payment Terms: Detailed breakdown of payment schedule and method

8. Transfer of Ownership: Process and timing for legal transfer of the property

9. Seller's Warranties: Warranties regarding ownership, absence of encumbrances, and property condition

10. Common Areas: Rights and obligations regarding common areas and facilities

11. Registration and Notarization: Requirements and process for official registration

12. Governing Law: Confirmation of Saudi law and Sharia compliance

Optional Sections

1. Condition of Property: Detailed description of property condition - include if property is not new

2. Maintenance Obligations: Specific maintenance requirements - include if there are special maintenance arrangements

3. Foreign Ownership: Additional requirements for foreign buyers - include if purchaser is non-Saudi

4. Financing Provisions: Terms related to mortgage or financing - include if purchase is financed

5. Property Manager: Details of property management arrangements - include if relevant to the specific development

6. Parking Rights: Specific parking allocations - include if parking is separately allocated

7. Service Charges: Details of service charges and payment obligations - include if not covered in main community documents

Suggested Schedules

1. Property Plan: Floor plan and location details of the condominium unit

2. Title Documents: Copies of current title deed and registration documents

3. Payment Schedule: Detailed breakdown of payment installments and dates

4. Common Area Rights: Detailed description of common area entitlements and obligations

5. Property Photographs: Current photographs of the property and common areas

6. Building Rules: Copy of current building rules and regulations

7. Maintenance Contracts: List of ongoing maintenance contracts and obligations

8. Utility Connections: Details of utility connections and account transfer requirements

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

alex.den.21@genieai.co
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Relevant Industries

Real Estate

Property Development

Construction

Banking & Finance

Legal Services

Property Management

Insurance

Urban Planning

Facilities Management

Relevant Teams

Legal

Real Estate

Property Management

Sales

Compliance

Operations

Finance

Business Development

Customer Service

Document Control

Risk Management

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Agent

Legal Counsel

Compliance Officer

Real Estate Development Manager

Property Sales Manager

Contract Administrator

Real Estate Transaction Coordinator

Title Officer

Real Estate Investment Manager

Facilities Manager

Property Conveyancer

Real Estate Operations Director

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

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