Land Sale Contract template

Land Sale Contract Template Compliant with the Regulations of the Kingdom of Saudi Arabia

On / / AH, corresponding to / / AD, in the city of ........, an agreement was made between: Seller: Mr/Ms ........................, Nationality: ........, National ID/Iqama No.: ............, National Address: ................, Mobile: ........ Buyer: Mr/Ms ........................, Nationality: ........, National ID/Iqama No.: ............, National Address: ................, Mobile: ........ Clause One: Description of the land sold

• Title deed No.: (............) dated / / AH, issued by: ................, type: (electronic / paper).
• Plot No.: (........), Plan No.: (........), District: ........, City: ........
• Area: (........) m². Land-use classification: (residential / commercial / agricultural / industrial).
• Boundaries and dimensions: North ........ length ........ m · South ........ length ........ m · East ........ length ........ m · West ........ length ........ m.
• The subject of sale: (the whole plot / a share of ........ out of ........).
• The land is (vacant with no buildings / has the following on it: ........................).

Clause Two: Seller's representations

• That the Seller is the sole owner, and that the land is not mortgaged, under attachment or the subject of any dispute.
• That there is no legal impediment to transferring title to the Buyer.
• That the boundaries, dimensions and area match the title deed, and that there are no encroachments by others or onto it.
• That the Seller has paid any fees or charges due on it up to the date of transfer of title.

Clause Three: Price and payment

• Price: (............) Saudi riyals. Price per square metre: (........) riyals.
• Deposit (arboon) on signing: (............) riyals, with the balance of (............) riyals payable on transfer of title.
• Payment shall be made via (an approved escrow account / bank transfer) to IBAN: SA..............................

Clause Four: Real Estate Transaction Tax This transaction is subject to Real Estate Transaction Tax at the statutory rate, calculated on the transaction value or the fair market value, whichever is higher, and it shall be paid by (............) as agreed between the parties. Transactions subject to this tax are not subject to value added tax, to avoid double taxation. Clause Five: Transfer of title

• The parties shall complete the transfer of title via Najiz within (........) days of the date of this contract, and authenticate it through Nafath.
• Ownership passes on the issue of the new electronic title deed in the Buyer's name, not on the signing of this contract.
• If transfer of title proves impossible for a reason attributable to the Seller or to the status of the land, the Seller shall refund what it has received within (........) days, together with compensation in accordance with Clause Six.

Clause Six: Breach and penalty clause If either party refuses to complete the transfer of title within the specified period without an acceptable excuse, after being given notice at its National Address and a period of (........) days, the other party may choose between specific performance or rescission with compensation of (............) Saudi riyals, in accordance with the provisions of the Civil Transactions Law. Clause Seven: General provisions

• The Buyer acknowledges having inspected the land sufficiently to rule out any uncertainty and accepts it in its current condition.
• The contract is governed by the laws of the Kingdom, in particular the Civil Transactions Law; the competent court has jurisdiction over any dispute.
• The National Address stated above is the chosen address for notices.
• Executed in two copies, each party holding one copy.

Seller: Name: ................ Signature: ................ Date: / / AH Buyer: Name: ................ Signature: ................ Date: / / AH