Book1 Division07 Title01 Chapter04 Part01
From Thai Codification Draft of 1919
DRAFT: CIVIL AND COMMERCIAL CODE FOR KINGDOM OF SIAM.
- Its detailed information and images of the original sources are available on the Centennial Website.
- The detailed information about the genealogical relations between the Draft 1919, Codes of 1923, Codes of 1925, and Code of 1992 is available at the "French Advisers' Heritage".
BOOK ON OBLIGATIONS.
DIVISION VII. SPECIFIC CONTRACTS.
TITLE I. Sale.
Chapter IV. Of Some Particular Kinds of Sale.
Part I. Sale with right of redemption.
Section 429.
- Sale with right of redemption is a contract of sale whereby the ownership of the property sold passes to the buyer subject to a special agreement that the seller can redeem that property.
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Section 430.
- If the property is not redeemed within the period fixed by the contract or by law, its ownership is deemed to have been vested in the buyer from the time of sale.
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Section 431.
- The parties may agree that the buyer shall not dispose of the property sold. If he disposes of it contrary to his obligation, he shall be liable to the seller for any injury resulting thereby.
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Section 432.
- [I] If a sale with right of redemption refers to immovable property it is void unless made in writing in the presence of and registered by the proper official.
- [II] The same rule applies to ships or vessels having displacement of and over six tons, steam-launches or motor-boats having displacement of and over five tons, floating-houses and beasts of burden.
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- Draft of April 1924: 497
- Code of January 1925: -
Section 433.
- The right of redemption cannot be exercised later than:
- (1) Ten years after the time of the sale in case of immovable property or of movable structures sold with the land on which they are erected.
- (2) One year after the time of the sale in case of movable property.
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Section 434.
- If a longer period is provided in the contract, it shall be reduced to ten years and one year respectively.
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Section 435.
- If a shorter period than ten years or one year is provided in the contract, the time cannot be afterward extended.
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Section 436.
- The right of redemption may be exercised only by:
- (1) The original seller or his heirs, or
- (2) The transferee of the right, or
- (3) Any person expressly allowed to redeem by the contract.
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Section 437.
- The right of redemption may be exercised only against:
- (1) The original buyer or his heirs, or
- (2) The transferee of the property or of a right on the property, provided that, in case of movable property, he knew at the time of transfer that such property was subject to a right of redemption.
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Section 438.
- If no price of redemption is fixed, the property may be redeemed by reimbursing the price of the sale.
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Section 439.
- [I] Costs of the sale borne by the buyer must be reimbursed together with the price.
- [II] Costs of redemption must be borne by the person who redeems.
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Section 440.
- The property must be returned in the condition in which it is at the time of redemption.
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Section 441.
- The person who redeems the property recovers it free from any rights created by the original buyer or his heirs or transferees before redemption, provided that any lease made by them in writing shall remain valid for not more than one year after the redemption.
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