Document background
The As Is Where Is Basis Deed of Sale is a crucial document used in Saudi Arabia for transactions where assets or property are sold in their existing condition and location, without warranties or guarantees from the seller. This document type is particularly important in scenarios involving the sale of used equipment, distressed assets, or property requiring renovation. It provides a legal framework compliant with Saudi Arabian law and Sharia principles, protecting sellers from future claims regarding asset condition while ensuring buyers acknowledge their acceptance of the current state. The deed includes comprehensive details about the asset, clear disclaimers, and necessary provisions for legal transfer of ownership. It's commonly used in commercial transactions, asset liquidations, and property sales where the buyer has inspected and accepted the asset's current condition.
