Document background
The Agreement of Sale with Possession is a specialized legal document used in Saudi Arabian property transactions where immediate or scheduled possession of the property is required alongside the sale process. This type of agreement is particularly useful in commercial and residential property transactions where the buyer needs to take possession of the property before the final transfer of ownership is completed. The document addresses both the fundamental elements of a property sale and the specific requirements for possession transfer under Saudi law, including compliance with Sharia principles and local property regulations. It is commonly used in situations involving phased payments, property development transitions, or where immediate occupancy is necessary for business continuity. The agreement must be structured to comply with Saudi Arabia's property registration requirements, commercial regulations, and Islamic finance principles.
