The Flat Selling Agreement is a crucial legal document used in Indonesian property transactions for the sale and purchase of apartment units or flats. This agreement is essential when transferring ownership of residential units in multi-story buildings, whether newly developed or existing properties. The document must comply with Indonesian regulations, particularly Law No. 20 of 2011 on Flats (Rumah Susun) and the Basic Agrarian Law. It includes detailed provisions about the property specifications, payment terms, delivery conditions, and ongoing obligations of both parties. The agreement is designed to protect both buyers' and sellers' interests while ensuring compliance with local property laws, building regulations, and consumer protection requirements. It's particularly important in Indonesia's growing urban areas where apartment living is becoming increasingly common and property transactions need to be properly documented and legally secured.
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Key Requirements PROMPT example:
Flat Selling Agreement
"I need a Flat Selling Agreement for an off-plan apartment purchase in Jakarta, with completion scheduled for March 2025, including staged payment terms and specific provisions for construction quality assurance."
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1. Parties: Identification of the seller and buyer, including complete legal names, addresses, and ID numbers
2. Background: Context of the transaction, including brief description of the property and the parties' intention to enter into a sale and purchase agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Object of Sale: Detailed description of the flat/apartment unit, including unit number, floor, building name, and specifications
5. Purchase Price: Total purchase price, payment schedule, and payment methods
6. Payment Terms: Detailed payment structure, including down payment, installments, and final payment requirements
7. Delivery and Handover: Conditions and timeline for property handover, including inspection procedures
8. Rights and Obligations: Detailed responsibilities and rights of both parties
9. Representations and Warranties: Seller's warranties about the property and buyer's representations regarding capacity to purchase
10. Title Transfer: Process and requirements for legal title transfer
11. Building Management: Terms regarding building management fees and obligations
12. Default and Remedies: Consequences of breach and available remedies
13. Force Majeure: Provisions for unforeseen circumstances affecting contract performance
14. Governing Law: Confirmation of Indonesian law as governing law
15. Dispute Resolution: Procedures for resolving disputes
16. Notices: Communication methods and contact details for official notices
17. Termination: Conditions and procedures for agreement termination
18. Miscellaneous: Standard boilerplate provisions including severability, entire agreement, and amendments
1. Mortgage Provisions: Used when buyer is obtaining bank financing, including conditions and requirements for mortgage
2. Foreign Ownership Provisions: Required when the buyer is a foreign national, incorporating specific requirements under Government Regulation No. 103 of 2015
3. Defect Liability: Detailed terms for new developments regarding developer's liability for construction defects
4. Furniture and Fittings: Used when the flat is sold furnished, listing included items
5. Parking Rights: When specific parking spaces are included in the sale
6. Property Management Transition: For existing properties with ongoing management contracts
7. Construction Completion: For off-plan purchases, including completion timelines and penalties
8. Renovation Terms: When specific renovation rights or restrictions need to be included
1. Property Specifications: Detailed technical specifications of the flat, including floor plans and measurements
2. Payment Schedule: Detailed breakdown of payment installments and due dates
3. Inventory List: List of furniture, fixtures, and equipment included in the sale (if applicable)
4. Building Rules and Regulations: Copy of the building's rules and regulations
5. Certificates and Permits: Copies of relevant certificates, permits, and licenses
6. Maintenance Fee Schedule: Details of maintenance fees and other regular charges
7. Form of Handover Certificate: Template for the property handover documentation
8. Defect List: Standard form for recording any defects during inspection
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Construction
Banking and Finance
Legal Services
Property Management
Urban Development
Housing and Residential
Investment
Relevant Teams
Legal
Real Estate
Sales
Compliance
Property Management
Business Development
Commercial
Finance
Project Development
Customer Relations
Relevant Roles
Real Estate Manager
Property Developer
Legal Counsel
Property Manager
Sales Director
Compliance Officer
Real Estate Agent
Contract Administrator
Development Manager
Project Manager
Finance Manager
Commercial Director
Notary Public
Property Lawyer
Real Estate Investment Manager
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