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Immovable Property Sale Agreement Template for Saudi Arabia

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Key Requirements PROMPT example:

Immovable Property Sale Agreement

"I need an Immovable Property Sale Agreement for a commercial warehouse property in Riyadh Industrial City, with completion scheduled for March 2025, including specific provisions for existing tenant arrangements and utility transfer procedures."

Document background
The Immovable Property Sale Agreement is a crucial document used in Saudi Arabia for facilitating the legal transfer of real estate ownership between parties. This agreement is essential for any property transaction in the Kingdom, whether residential or commercial, and must comply with both Saudi civil law and Sharia principles. The document encompasses all necessary elements required by Saudi regulations, including detailed property specifications, price agreements, payment terms, and transfer procedures. It is particularly important as it serves as the foundation for property registration with relevant authorities and ensures compliance with the Real Estate Registration Law and related regulations. The agreement must be properly executed before a notary public and registered with the appropriate municipality to effect valid transfer of ownership.
Suggested Sections

1. Parties: Identification of the seller and purchaser with full legal names, addresses, and identification numbers as required by Saudi law

2. Background: Context of the sale and confirmation that the seller is the legal owner with the right to sell the property

3. Definitions: Key terms used throughout the agreement, including property-specific terminology and regulatory references

4. Property Description: Detailed description of the property including title deed number, location, boundaries, and total area as per official documents

5. Purchase Price: The agreed purchase price, payment schedule, and method of payment in compliance with Sharia principles

6. Payment Terms: Detailed breakdown of payment structure, including deposits and final payment arrangements

7. Completion: Process and requirements for completing the sale, including registration requirements and timing

8. Seller's Warranties: Warranties regarding ownership, absence of encumbrances, and compliance with regulations

9. Property Handover: Terms and process for physical handover of the property and transfer of utilities

10. Tax and Fees: Allocation of responsibility for RETT, registration fees, and other applicable charges

11. Governing Law: Confirmation of Saudi law and Sharia principles as governing law

12. Dispute Resolution: Process for resolving disputes in accordance with Saudi law

Optional Sections

1. Mortgage Provisions: Required if the property has an existing mortgage or if the purchase is being financed through a mortgage

2. Foreign Ownership Compliance: Required if the purchaser is a non-Saudi national or entity, detailing compliance with foreign ownership regulations

3. Conditions Precedent: Include if there are specific conditions that must be met before completion

4. Property Management: Include if there are ongoing management arrangements that need to be transferred

5. Development Obligations: Required if the property is part of a development project with ongoing obligations

6. Zakat and Tax Provisions: Detailed section required if there are complex tax implications or Zakat considerations

7. Representative Authority: Required if any party is acting through a representative or power of attorney

Suggested Schedules

1. Property Documents: Copies of title deed, property plans, and boundary documents

2. Payment Schedule: Detailed breakdown of payment installments and due dates

3. Property Inventory: List of fixtures, fittings, and any other items included in the sale

4. Required Permits: Copies of relevant permits, certificates, and regulatory approvals

5. Property Inspection Report: Technical inspection reports and property condition assessment

6. Outstanding Liabilities: List of any outstanding utilities, service charges, or other liabilities

7. Municipality Certificates: Relevant municipal certificates and clearances required for transfer

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

Relevant legal definitions




































Clauses




































Relevant Industries

Real Estate

Property Development

Construction

Financial Services

Legal Services

Property Management

Urban Development

Infrastructure

Commercial Property

Residential Property

Relevant Teams

Legal

Real Estate

Compliance

Finance

Risk Management

Property Management

Business Development

Corporate Affairs

Operations

Investment

Relevant Roles

Real Estate Manager

Property Developer

Legal Counsel

Compliance Officer

Real Estate Broker

Property Manager

Contract Manager

Real Estate Investment Manager

Development Director

Finance Manager

Property Lawyer

Notary Public

Real Estate Transaction Officer

Risk Manager

Corporate Counsel

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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