Japanese property system

The below is a case study for conveyancing process in Japan.

For example, I am supporting my client, a limited liability company, to purchase property in Tokyo.
This includes a transfer of the property.

1. People involved
The buyer is a limited liability company that is registered at the Legal Affair Bureau in Japan, but whose representative is non-Japanese and resides in Tokyo.
The sellers are individuals who jointly owned the property.

2. Target property
The property consists of land and a three-storey building. The land area is 382.12 square meters (4,113.10 square feet) and the building has a total area of 477.70 square meters (5,141.92 square feet).
The value of the whole property is JPY 140,000,000 (roughly equivalent to GBP 1,000,000).
The property has no mortgages attached to it.
The seller has owned the property for the past 7 years.

How is this transaction dealt with?
I will update every Monday.

For more information
Japanese business start-up consultant
Shihoshoshi Lawyer
(Judicial Scrivener)
Akiko HORI

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