>This land sale agreement for Thailand includes specific and general clauses desiged to protect the buyer’s interests in a property transaction. Under Thai property law, foreigners are not permitted to own freehold land in Thailand and therefore cannot be named as the legal buyer in such a contract. Before proceeding with a land purchase, it is essential to understand the legal structure, due diligence process, and contractual safeguards available.
THIS LAND SALE AND PURCHASE AGREEMENT is made at ____ [location] _____, _______, Thailand on this ___ day of ________, 20__
BY AND BETWEEN:
Mr./Mrs./Miss __________, ___ years of age, a Thai national, residing at __, Moo ______ Sub-district, _____ District, _____ Province, hereinafter referred to as “The Seller” of the one part (copy of the Seller's ID card and house registration book are attached hereto as Annex I.).
AND
Mr./Mrs./Miss _________, ___ years of age, a Thai national, residing at __, Moo _____ Sub-district, _____ District, __________ Province, hereinafter referred to as “The Purchaser” of the other part (copy of the Purchaser's ID card and house registration book are attached hereto as Annex 2.).
In this Agreement the Seller and the Purchaser collectively referred to as “The Parties”.
BACKGROUND
(A) The Seller is the current legitimate owner of land, having an approximate area of __ Rai _ Ngan __ Square wah, located at ____ Sub-district, ____ District, ____ Province, with Title Deed No. __, Book ___, Page _______, Land No. _____, a copy of which is attached hereto as Annex 3 (“the Land”).
(B) The Seller wishes to sell to the Purchaser and the Purchaser wishes to purchase from the Seller, the Land in accordance with the terms and conditions hereafter set forth.
NOW AND THEREFORE the Parties hereby agree as follows:
PURCHASE PRICE AND PAYMENT
The Seller agrees to sell and the Purchase agrees to purchase the Land for the total purchase price of Baht __ [in numbers] ___ (___ [in writing] _________ Baht) (“the Purchase Price”). The Purchaser shall pay the Purchase Price to the Seller paid to the Seller by 2 installments as follows:
1.1 On the execution date of this Agreement, the Purchaser agrees to pay to the Seller in the amount of Baht __ [in numbers] ___ (___ [in writing] _________ Baht) (“the Deposit”).
1.2 On the Transfer Date pursuant to Article 2 herein, the Purchaser agrees to pay the balance of the Purchase Price to the Seller in the amount of Baht__ [in numbers] ___ (___ [in writing] _________ Baht).
REGISTRATION OF TRANSFER OF OWNERSHIP AND EXPENSES
2.1 The Parties agree to effect the registration of the transfer of ownership and the delivery of the Land to the Purchaser at the relevant Land Office within _[number]_ days from the date hereof (“the Transfer Date”).
2.2 On the Transfer Date, the Purchaser or his legal representative shall attend and execute the registration of transfer ownership. If for any reason the Purchaser or his legal representative fails to attend and execute the registration of transfer ownership on the Transfer Date, the Purchaser shall notify the Seller in writing at least 7 (Seven) days prior to the Transfer Date and the Parties shall mutually determine a new transfer date.
TAXES AND EXPENSES
The Parties shall be equally responsible for registration fees and stamp duties incurred in connection with the transfer of ownership of the Land. The Seller shall be solely responsible for specific business tax (if any), personal income tax and any other taxes for which the Seller is liable under the law with respect to the transfer of the Land, including withholding tax.
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4.1 Prior to or on the Transfer Date,.............. ............................. ...... ........ ............
4.2 The Seller.............. ............................. ...... ......... ............
4.3. The Seller .............. ............................. ...... ......... ............
4.4 The Seller ............. ............................. ...... ......... ............
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TERMINATION AND DEFAULT
5.1 In the event that the Seller is in default of any of the terms of this Agreement or subject to clause 2.2 .............. ............................. ...... ......... ............
5.2 In the event that the Purchaser is in default of the terms of this Agreement or subject to clause 2.2 .............. ............................. ...... ......... ............
5.3 No party hereto shall be liable .............. ............................. ...... ......... ............
5.4 The failure by any party to .............. ............................. ...... ......... ............
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NOTICES
Any notice or communication addressed to the Seller shall be served to:
.............. ............................. ...... ......... ............
Any notice or communication addressed to the Purchaser shall be served to:
.............. ............................. ...... ......... ............
ASSIGNMENT
The Purchaser may .............. ............................. ...... ......... ............
SUCCESSION
This Agreement shall .............. ............................. ...... ......... ............
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MISCELLANEOUS
9.1 Any dispute or controversy arising from or out of this Agreement shall ............ .............. ............................. ...... ......... ............
9.2 No amendment or change .............. ............................. ...... .........
9.3 .............. ............................. ...... ......... ............
9.4 .............. ............................. ...... ......... ............
GOVERNING LAW
This Agreement is made in both English and Thai language. In case of any conflict English language shall prevail. This Agreement shall be governed and construed in accordance with the laws of Thailand.
SIGNATURE PAGE FOLLOWS
