Legal Literacy - Understand the legality of Sale and Purchase Agreements with repurchase rights. Discover the risks and safe and legal alternative solutions. Avoid defective agreements and learn the differences between them and debt agreements.

Sale and Purchase

Sale and purchase in positive law in Indonesia is contained in the Civil Code. The definition of sale and purchase is based on Article 1457 Civil Code explaining that sale and purchase is an agreement, in which one party binds itself to hand over an item and the other party binds itself to pay the price that has been agreed upon.

Generally, the sale and purchase that occurs in society in general is when the seller has carried out his obligations by handing over the object he sells and the buyer carries out his obligations by making payments for the price agreed upon with the seller. In the case of land sale and purchase, if there is an agreement to carry out a land sale and purchase, the legal product produced is the making of a Deed of Transfer of Rights Agreement and a Sale and Purchase Deed as a form that the seller has carried out his obligation to hand over the object of sale and purchase. However, in practice, there are sale and purchase events that are carried out not in accordance with what usually happens.