Property Services

Property Purchase Agreement

A property purchase agreement is used to purchase or sell a property. These contracts are generally consistent in content, but the specific language, in some parts, may vary to reflect the particular attributes of individual properties.

There are two types of property purchase agreements: for immovable property and for moveable property.

Immovable property refers to property that cannot be moved without destroying or altering it, including land or property that is fixed to the land, such as a building. Immovable property purchase agreements must always be made in writing. In the event of a legal dispute regarding an unwritten, immovable property purchase agreement, the sale would be considered void.

Movable property refers to all objects that are not considered immovable property. While it is advisable that agreements relating to the sale of property be in writing, where the sale of moveable property is less than 20,000 Thai baht, the agreement is not legally required to be made in writing; however, all sales over this amount are required to be in writing.

If a property purchase agreement is made in multiple languages, the governing version should be stipulated, otherwise, the court will consider the Thai version the governing version.

Preparing a property purchase agreement can be complex and time consuming. Mahanakorn Partners Group lawyers possess the extensive experience and knowledge needed to draft property purchase agreements that avoid potential hazards and future legal issues.