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Is Nominee Agreement Legal

3. The nominee shall enter into all such instruments, including, but not not, all such documents, assignments, deeds, assignments, leases, subleases, assignments and surrenders of leases, mortgages, fees, mortgages, mortgages, mortgages, easements, licenses, liens, management agreements, personal property security agreements and other agreements (as „instruments“ (e) which, from time to time, by the Owner, in connection with the land ownership, including without limiting the general quality of the foregoing, transfers and transfers under one or more other forms of rights, title and interests of the nominee in the Immovable Property. In a nominated agreement, the owner transfers ownership to a nominee who agrees to hold and execute transactions on behalf of the owner. The purpose of the agreement is to outline, for legal purposes, the ownership of the property and the role of the nominee. Of course, not all nominee deals or professional shareholders are reliable and safe, especially if you don`t have full control of your assets. Under this restriction and the high amount of investment, foreign individuals or companies often opt for a nominated agreement to comply with Indonesian policy. (a) from the date of this Agreement, the Nominee shall retain ownership of immovable property and all right, title and interest therein, and the benefits derived therefrom as nominee for and on behalf of the Owner; NOW, taking into account these premises and the reciprocal agreements, conditions and arrangements contained therefrom, as well as for other good and valuable counterparties (the maintenance and adequacy of which are confirmed), the parties undertake and agree as follows: in addition, the new BKPM Regulation 13/2017 does not allow investors to declare that they are not the owners of a company, or Companies are. 4. Nominee acknowledges, represents, undertakes and agrees that all rents, profits, emoluments and other income and income of any kind, or of any nature whatsoever, belong legally and advantageously to the Owner, and that the Nominee has no legal or economic interest in such rents, profits, emoluments and other income and income.

Subject to the rights of a mortgage lender or other secured creditor, the nominee shall pay without delay to the owner all rents, profits, emoluments and other income and income from immovable property, which the nominee may receive as a nominal part of an instrument. The nominee shall not assume responsibility to any person for such a transfer, as in a communication from such a hypothecary creditor or other secured creditor or, in the absence of such communication, according to an instruction from the owner. . . .