Last updated on April 18, 2026
A Thai security device (ขายฝาก) governed by Sections 491–502 of the Civil and Commercial Code. In kaifak the seller transfers ownership of property to the buyer while retaining a contractual right to repurchase within a fixed period — no longer than ten years for immovable property. If the seller fails to redeem on time, ownership consolidates with the buyer automatically. Kaifak is widely used for informal lending against land.