When the owner of residential property changes, the last step after the visit to the land office and the receipt of the money is crucial: the handover of the keys; after this, the previous owner moves out, and the buyer moves in. At this point, all documents are handed over, a joint tour of the house is made, and meter readings and defects are noted. It makes sense to draw up a protocol for the handover of possession so that the sale of the house does not have any repercussions. We have summarized what you should pay attention to, based on our experience, in the house handover protocol.
Summary of the most important things to remember in a handover:
As with a condominium, a house is handed over at an agreed time after the purchase contract has been signed, usually only after the money has been received.
The handover occurs under the agreed conditions, typically in a “bought as seen” condition.
Before the keys are handed over, the buyer and seller tour the property together.
Defects are noted in the handover protocol, including the “to do” list, who will take care of these, and by what date.
It also lists all the previous owner’s documents to be handed over to the new owner.
The handover protocol may also be referred to as the takeover protocol, as meter readings are recorded, and it is noted which inventory/furniture is being taken over.
The buyer and seller sign the handover protocol, and witnesses present also sign if necessary.
The goal of a handover protocol for a house or condominium is a smooth transition without legal disputes. It protects both sides: for example, the buyer can claim unlisted, missing, or required documents from the seller. If defects occur after the handover, which the seller neither concealed nor is responsible for, he does not have to pay for these to be resolved.
What should be included in a house handover protocol?
A good handover protocol checklist includes:
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Fabian, a founding partner of FRANK Legal & Tax, is a German-trained lawyer with expertise in corporate/commercial, real estate law, and litigation, and has been practicing law in Thailand since 2005.