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Deed Of Sale House And Lot Rights
"I need a Deed of Sale House and Lot Rights for a residential property sale in Riyadh, with completion scheduled for March 2025, including specific provisions for an existing tenant who will remain in the property for six months after the sale."
1. Parties: Identification of the Seller and Buyer with full legal names, nationality, ID numbers, and contact details as required under Saudi law
2. Background: Context of the sale, including brief history of ownership and intention to transfer
3. Definitions: Key terms used throughout the deed, including Property, Purchase Price, Completion Date, and other relevant terms
4. Property Details: Comprehensive description of the property including lot number, title deed number, exact measurements, boundaries, and location details
5. Sale and Purchase: Core agreement to sell and purchase, including the precise rights being transferred
6. Purchase Price: Agreed purchase price, payment terms, and method of payment in compliance with Sharia principles
7. Completion Requirements: Conditions for completion of sale, including documentation and registration requirements
8. Seller's Warranties: Warranties regarding ownership, absence of encumbrances, and authority to sell
9. Property Handover: Terms and conditions for physical handover of the property
10. Registration: Process and requirements for registering the transfer with relevant authorities
11. Tax Obligations: Allocation of tax responsibilities between parties
12. Governing Law: Confirmation of Saudi law and Sharia principles as governing law
13. Execution: Formal execution requirements including witnesses and notarization as required under Saudi law
1. Conditions Precedent: Used when there are specific conditions that must be met before completion, such as obtaining regulatory approvals
2. Mortgage Details: Include when the property has an existing mortgage or when purchase is being financed through a new mortgage
3. Property Management: Include when there are ongoing management arrangements that need to be transferred
4. Utilities and Services: Used when specific arrangements for transfer of utilities and services need to be detailed
5. Dispute Resolution: Optional detailed dispute resolution procedures beyond standard court jurisdiction
6. Foreign Ownership Compliance: Include when buyer is a foreign national, detailing compliance with foreign ownership regulations
7. Existing Tenancies: Include when property is subject to existing tenant agreements that will continue post-sale
1. Property Schedule: Detailed technical description of the property including plans, measurements, and boundaries
2. Title Documents: Copies of relevant title documents and ownership history
3. Payment Schedule: Detailed breakdown of payment installments if payment is not made in full at completion
4. Property Inspection Report: Recent inspection report detailing condition of property
5. Inventory: List of any fixtures, fittings, or furniture included in the sale
6. Regulatory Approvals: Copies of relevant municipal approvals and permits
7. Property Photographs: Recent photographs of the property and its boundaries
Authors
Real Estate
Legal Services
Banking & Finance
Insurance
Construction
Property Development
Property Management
Municipal Services
Notary Services
Real Estate Investment
Legal
Real Estate Operations
Property Management
Compliance
Documentation
Risk Management
Transaction Processing
Investment
Asset Management
Corporate Services
Real Estate Lawyer
Property Manager
Real Estate Agent
Legal Counsel
Conveyancing Manager
Property Developer
Real Estate Investment Manager
Compliance Officer
Real Estate Transaction Coordinator
Title Insurance Specialist
Municipal Planning Officer
Real Estate Documentation Specialist
Property Rights Administrator
Real Estate Operations Manager
Legal Documentation Manager
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