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Settlement Deed Of Property

Settlement Deed Of Property Template for Saudi Arabia

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Key Requirements PROMPT example:

Settlement Deed Of Property

"I need a Settlement Deed of Property to formalize the division of our family's commercial building in Riyadh among three siblings, with specific provisions for shared management responsibilities and future right of first refusal for any party wanting to sell their share."

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Document background
The Settlement Deed of Property is a crucial legal instrument in Saudi Arabia used to formalize and document the transfer of property rights through settlement arrangements. This document type is particularly relevant when resolving property disputes, facilitating family property distributions, or implementing court-ordered property settlements. The deed must strictly comply with Saudi Arabian law, including the Real Estate Registration Law and Shariah principles, requiring proper authentication by authorized notaries and registration with the relevant property authorities. It includes comprehensive details about the property, parties involved, settlement terms, and any conditions attached to the transfer. The document's format and content are specifically designed to meet Saudi legal requirements, ensuring its enforceability and recognition within the Saudi legal system.
Suggested Sections

1. Parties: Details of the transferor(s) and transferee(s), including full legal names, national ID numbers, and contact information as required by Saudi law

2. Background: Context of the property settlement, including history of ownership and reason for settlement

3. Definitions: Key terms used throughout the deed, including property-specific terminology and legal concepts

4. Property Details: Comprehensive description of the property including location, boundaries, size, and registration details as per the Real Estate Registration Law

5. Settlement Terms: Clear statement of the settlement agreement, including transfer of ownership and any conditions

6. Consideration: Details of any payment or exchange of value involved in the settlement

7. Completion Requirements: Steps required to complete the property transfer, including registration procedures

8. Representations and Warranties: Statements confirming ownership, authority to transfer, and absence of encumbrances

9. Shariah Compliance: Declaration of compliance with Islamic law principles

10. Governing Law: Confirmation of Saudi law application and jurisdiction

11. Execution: Signature requirements and witnessing provisions as per Saudi law

Optional Sections

1. Inheritance Provisions: Required when the settlement involves inherited property or future inheritance rights

2. Mortgage Details: Included when the property is subject to existing mortgage or financing arrangements

3. Foreign Ownership Compliance: Required when any party is non-Saudi, addressing specific regulatory requirements

4. Municipal Approvals: Needed when the settlement requires specific local authority permissions

5. Dispute Resolution: Optional detailed dispute resolution procedures beyond standard court jurisdiction

6. Tax Implications: Required when there are specific tax considerations or obligations

7. Third Party Rights: Included when the settlement affects rights of parties not directly involved in the transfer

Suggested Schedules

1. Property Title Documents: Copies of official property ownership documents and registration certificates

2. Property Plans: Official plans showing property boundaries, dimensions, and location

3. Photographic Schedule: Recent photographs of the property and its key features

4. Outstanding Liabilities: List of any existing charges, mortgages, or obligations affecting the property

5. Required Permits: Copies of relevant municipal permits and approvals

6. Property Inspection Report: Technical report on property condition and compliance with regulations

7. Payment Schedule: Details of any installment payments or financial arrangements

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

Banking & Finance

Legal Services

Construction

Property Development

Government & Public Sector

Islamic Finance

Hospitality

Retail

Industrial & Manufacturing

Healthcare

Education

Relevant Teams

Legal

Real Estate

Compliance

Risk Management

Corporate Affairs

Property Management

Asset Management

Documentation

Investment

Operations

Relevant Roles

Real Estate Manager

Legal Counsel

Property Lawyer

Compliance Officer

Real Estate Director

Property Registration Officer

Islamic Finance Advisor

Real Estate Consultant

Corporate Lawyer

Property Development Manager

Asset Manager

Risk Management Officer

Real Estate Investment Manager

Property Administrator

Legal Documentation Specialist

Industries








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