The Deed of Sale of Real Property Form is a crucial legal instrument used in Saudi Arabia for documenting and executing real estate transactions. It serves as the primary document for transferring property ownership and must strictly comply with both civil law requirements and Sharia principles. This document is essential when any party (individual or corporate) wishes to transfer ownership of real property in Saudi Arabia, requiring proper registration with relevant authorities and authentication by authorized notaries. The deed must incorporate specific elements mandated by Saudi law, including detailed property descriptions, precise party information, and clear payment terms. It's particularly important to note that this document must conform to the Real Estate Registration Law (Royal Decree No. M/6) and related regulations, making it a fundamental tool in Saudi Arabian real estate transactions.
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Key Requirements PROMPT example:
Deed Of Sale Of Real Property Form
"I need a Deed of Sale of Real Property Form for selling a commercial warehouse in Riyadh's Industrial City to a foreign corporation, with completion scheduled for March 2025, including specific clauses about existing tenant arrangements and foreign ownership compliance."
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1. Parties: Identification of the Seller and Buyer with full legal names, national ID numbers/CR numbers, and contact details as required by Saudi law
2. Background: Context of the sale and confirmation of the Seller's legal ownership and right to sell the property
3. Definitions: Key terms used throughout the deed, including Property, Completion Date, Purchase Price, and other relevant terms
4. Property Description: Detailed legal description of the property including title deed number, plot number, and location coordinates as per Saudi property registration requirements
5. Sale and Purchase: Core agreement of sale, purchase price, and transfer of ownership in accordance with Sharia principles
6. Purchase Price and Payment Terms: Detailed breakdown of the purchase price, payment schedule, and method of payment
7. Completion Requirements: Steps required for completion of the sale, including registration requirements and documentation
8. Seller's Warranties: Warranties regarding ownership, absence of encumbrances, and compliance with regulations
9. Property Handover: Terms and conditions for the physical handover of the property
10. Registration and Transfer: Process and requirements for official registration of the property transfer
11. Governing Law: Confirmation that the deed is governed by the laws of Saudi Arabia and Sharia principles
1. Broker Details: Required when a licensed real estate broker is involved in the transaction
2. Mortgage Details: Required when the property is being purchased with mortgage financing
3. Foreign Ownership Compliance: Required when the buyer is a non-Saudi national or entity
4. Conditions Precedent: Required when the sale is subject to specific conditions being met before completion
5. Property Management: Required when there are existing tenants or property management arrangements
6. Development Obligations: Required when the property includes undeveloped land with development requirements
7. Municipal Approvals: Required when specific municipal permits or approvals are pending
1. Property Title Deed: Copy of the original title deed and translation if required
2. Property Plans: Approved architectural plans, site plans, and location maps
3. Property Photographs: Recent photographs documenting the current state of the property
4. Payment Schedule: Detailed breakdown of payment installments and dates if applicable
5. Property Inspection Report: Technical report on the property's condition and compliance with regulations
6. Municipality Certificates: Relevant certificates from local authorities regarding zoning and compliance
7. Utilities Documentation: Details of utility connections and current account status
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