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3/28/2022

Jyuyojiko Setsumeisho Sample 1 (Continued)

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II Terms and Conditions of the Transaction:
Compensation for Damages or Penalties

3. Matters concerning compensation for damages or breach of contract  
Picture
In the above sample, the following are written:
  1. If the Buyer cancels the contract due to the Seller's default, the seller must pay the money received plus a penalty in an amount equivalent to (___) % of the sales price.
  2. If the Seller cancels the contract due to the buyer's default, the Seller shall return the balance of the money received, less the penalty, without interest. In this case, if the amount of the penalty exceeds the money already paid, the Buyer shall pay the difference to the Seller.
4. The outline of measures to protect a deposit, etc. (in the case where the real estate agent is the seller)
(1) Unfinished properties
Picture
In the section, the information on the method of protection and the institution/organization that takes protective measures can be found. In the above sample, the protection method is stated as ​Guarantee Entrustment Contract (Article 41, Paragraph 1, Item 1 of the Act) and Guarantee Contract (Article 41, Paragraph 1, Item 2 of the Act).
(2) Completed properties
Picture
In the section, the information on the method of protection and the institution/organization that takes protective measures can be found. In the above sample, the protection method is stated as ​Guarantee Entrustment Contract (Article 41, Paragraph 1, Item 1 of the Act), Guarantee Contract (Article 41, Paragraph 1, Item 2 of the Act), and Pledge Agreement (Article 41-2, Paragraph 1 of the Act)
(3) No protection measures taken
Picture
In this transaction, no protection measures will be taken because the amount of the deposit, etc. is less than 5/100 of the sales price for uncompleted properties and less than 1/10 of the sales price for completed properties, and the amount is less than 10 million yen.
5. The outline of measures to protect payments and deposits
Picture
In this section, the following are stated: whether protection measures are taken or not, the institution/organization that takes protective measures, etc. In the above sample, "講じない” is circled in red, meaning that no protection measures are taken. 

Note:
When the seller is a real estate agent and a deposit of more than 10% of the sales price (5% for unfinished properties) or 10 million yen is given or received, the seller real estate agent is obligated to take measures to protect such money before receiving payment. Payment is to be made after receiving a letter of guarantee, etc.

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Real Estate agent in Kyoto, Buy and Sell, Leasing, Renovation and Construction, Management for Investment and Vacation Property, Professional Services for International Customers. We deal in KyoMachiya houses, detached and attached Houses, new and old Condominium Apartments, Block of Apartments and Buildings for Commercial, Residential and Investments use, Manage and Support Operation and New Development of Guesthouse, Ryokan and Hotel, Total Supports for Land and Buildings Real Estate in Kyoto.
Yours sincerely, Founder Ken Hayashi
Real Estate Broker Company License No. Kyoto-Fu Governor ( 1 ) 14044 , ​Member of Kyoto Association of Residential Land Building Business
  • Home
  • Study
    • Rights of Property >
      • Real Right and Credit
      • Rights to the land and Rights to the building
    • the Building Lots and Buildings Transaction Business Act >
      • Laws Related to Real Estate Transaction in Japan
      • (1) Laws Concerning Land Use
      • (2) Laws Concerning Construction of Buildings
      • (3) Laws Regulating Real Estate Companies
      • (4) Laws and Regulations Concerning Advertisement
      • (5) Laws Concerning Contracts Including Sales Contracts and Lease Contracts
      • (6) Laws concerning Titles and Rights
      • (7) Laws Concerning Real Property Registration
      • (8) Laws Concerning Condominium Management
      • (9) Laws Concerning Defects (Faults, etc.) of Housing Properties
    • How to and Procedures >
      • Process of Real Estate Sale
      • Process of Real Estate Purchase
      • Cost by Transaction
      • Important Points Explanation
      • Real Estate Sales Contract
      • Property Condition Confirmation
      • Facilities and Equipment List
    • Building Management >
      • Process of Residential Property Management
      • Process of Real Estate Leasing >
        • Idea of Lease Agreement
      • Process of Vacation Home Management
    • Related Acts
    • Glossary >
      • Real Estate Glossary in Japan
    • Tax in Japan >
      • Consumption Tax
      • Property Tax
      • Capital Gain Tax
      • Withholding Tax
      • Taxes on Gifts and Inheritances
    • Q&A >
      • Q&A
  • Local
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    • We Love Kyoto
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