The Home Agreement serves as a fundamental legal instrument in Indonesian residential property transactions, designed to protect the interests of both buyers and sellers while ensuring compliance with Indonesian property law. This document is essential when transferring residential property ownership or establishing long-term lease arrangements in Indonesia. It incorporates crucial elements required by Indonesian law, including property specifications, payment terms, ownership transfer procedures, and parties' obligations. The agreement must comply with various Indonesian regulations, including the Civil Code, Housing Law, and Consumer Protection Law, while also considering regional building regulations. It's particularly important for documenting property transactions in Indonesia's growing real estate market, where clear legal documentation is essential for property rights protection and dispute prevention.
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1. Parties: Identification of all parties involved in the agreement, including full legal names, addresses, and any registration numbers for legal entities
2. Background: Context of the agreement, including brief description of the property and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Detailed description of the property, including address, certificate numbers, and land/building specifications
5. Payment Terms: Details of purchase price or rental amount, payment schedule, and payment methods
6. Transfer of Ownership: Process and conditions for transferring property ownership, including documentation requirements
7. Representations and Warranties: Statements and guarantees from both parties regarding the property and their capacity to enter into the agreement
8. Rights and Obligations: Detailed responsibilities of each party under the agreement
9. Default and Remedies: Consequences of breach and available remedies for each party
10. Force Majeure: Provisions for unforeseen circumstances affecting contract performance
11. Governing Law: Specification of Indonesian law as governing law and jurisdiction
12. Dispute Resolution: Process for resolving disputes between parties
13. Notices: How formal communications between parties should be made
14. General Provisions: Standard boilerplate clauses including severability, entire agreement, and amendments
1. Mortgage Provisions: Include when the property purchase involves mortgage financing, detailing terms and conditions of the mortgage
2. Property Management: Include for properties in managed complexes or apartments, describing management responsibilities and fees
3. Insurance: Include when specific insurance requirements need to be maintained by either party
4. Environmental Conditions: Include when the property has specific environmental considerations or requirements
5. Development Rights: Include when the property has potential for future development or modifications
6. Third Party Rights: Include when there are existing tenants or other third-party interests in the property
7. Utilities and Services: Include when specific arrangements for utilities transfer or service provisions need to be detailed
1. Property Description Schedule: Detailed technical description of the property, including floor plans and specifications
2. Payment Schedule: Detailed breakdown of payment installments and due dates
3. Title Documents: Copies of land certificates and other ownership documents
4. Property Inspection Report: Current condition report of the property
5. Building Permits: Copies of relevant building permits and certificates
6. Inventory List: List of fixtures, fittings, and furnishings included in the agreement
7. Site Plan: Official site plan showing property boundaries and location
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Residential Property
Construction
Property Development
Legal Services
Banking & Finance
Property Management
Insurance
Relevant Teams
Legal
Real Estate
Compliance
Sales
Property Management
Contract Administration
Risk Management
Business Development
Customer Relations
Relevant Roles
Real Estate Lawyer
Property Manager
Real Estate Agent
Legal Counsel
Compliance Officer
Contract Administrator
Property Developer
Sales Manager
Mortgage Officer
Real Estate Transaction Coordinator
Property Rights Specialist
Housing Development Manager
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