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The Residential Purchase And Sale Agreement is a fundamental legal document used in Saudi Arabia for transferring ownership of residential properties. It serves as the primary contract between buyers and sellers, establishing their rights, obligations, and the terms of the transaction. This document is essential for compliance with Saudi Arabian real estate laws, Islamic Sharia principles, and local regulations. It typically includes detailed property descriptions, payment terms, conditions precedent, completion requirements, and property handover procedures. The agreement is particularly important as it must address specific Saudi Arabian requirements such as municipality approvals, property registration procedures, and foreign ownership restrictions where applicable. It forms the basis for property registration with relevant authorities and serves as evidence of the transaction terms.

1. Parties: Identification of the seller and buyer with complete legal names, ID/registration numbers, and contact details

2. Background: Context of the transaction, including brief property description and parties' intention to enter into sale agreement

3. Definitions: Key terms used throughout the agreement, including technical and legal terminology

4. Property Description: Detailed description of the property including address, dimensions, deed number, and registration details

5. Purchase Price: Agreed purchase price, payment terms, installments if any, and method of payment

6. Payment Terms: Schedule of payments, deposit requirements, and conditions for release of funds

7. Title and Ownership: Confirmation of seller's ownership, warranties regarding clear title, and process of title transfer

8. Conditions Precedent: Conditions that must be satisfied before completion, including municipality approvals and documentation

9. Completion: Process and requirements for completing the sale, including timing and location

10. Seller's Obligations: Detailed list of seller's responsibilities before and at completion

11. Buyer's Obligations: Detailed list of buyer's responsibilities before and at completion

12. Representations and Warranties: Statements of fact and promises by both parties regarding the property and transaction

13. Property Handover: Process and timing for physical possession transfer and utilities transfer

14. Default and Remedies: Consequences of breach and available remedies for either party

15. Governing Law and Jurisdiction: Confirmation of Saudi law application and jurisdiction for disputes

16. Notices: Process and addresses for formal communications between parties

17. Execution: Signature requirements and execution formalities