Ready-Made Land Sale Contract Model in a Professional Legal Format According to the Saudi System
What is a Land Sale Contract Model?
Real property is everything fixed in its place that cannot be moved without damage or change in its form, and everything else is movable property.
Based on this, land will be described in this article as real property.
What is the importance of the condition for documenting the transfer of ownership in a land sale contract model?
One of the essential conditions that must be clearly stated in a real property sale contract model is the requirement of transferring the property's title (ifragh) before a notary public or an accredited registrar.
he Saudi system has mandated the necessity of documenting ownership transfer operations in the real estate registry to validate the sale.
Article (13) of the states:
Rem Real Estate Registration Law:
All subsequent transactions after the initial in-rem registration of the real property shall be recorded in the real estate registry, which would establish, transfer, change,
or extinguish any of the original or ancillary in-rem rights, or modify the property's data, as well as the final judgments confirming any of that. These rights shall not be effective nor produce their judicial and administrative effects except by this registration.
What guarantees must the seller provide in a real property sale contract model?
- Guarantee against Encumbrances: The seller is obliged to ensure that no third party will interfere with the buyer's ownership of the land, whether the interference comes from the seller's private or public successors.
- Guarantee that the Property is Free from In-Rem Rights: Such as mortgages, liens, bequests, endowments (waqf), or the existence of prior sales contracts with third parties.
Determining the Contract Value and Payment Terms in a Real Property Sale Contract Model
To View a Real Property Sale Contract Model
Conclusion
- Mention the conditions for documenting the transfer of ownership.
- Clarify the seller's guarantees such as the guarantee against encumbrances or the existence of in-rem rights on the land.
- Clearly define the value and payment mechanism, including the registration procedures with the competent authorities.
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