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 agreement, 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.
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.
Mahanakorn Partners Group lawyers possess the extensive experience and knowledge needed to draft property purchase agreements that avoid potential hazards and future legal issues.