Common use of Immovable Property Clause in Contracts

Immovable Property. Art. 22 Purchase and retention of immovable property 1. Nationals of a Party who have acquired immovable property in the other Party in accordance with national law before the specified date shall retain the right to hold that property as provided in Article 25 of Annex I to the FMOPA. 2. Nationals of a Party who have established a temporary residence right or a residence right before the specified date in the other Party shall be entitled to acquire immovable property as provided in article 25 of Annex I to the FMOPA on or after the specified date, provided that at the time of purchase the residence right persists and that the national of a Party has his principal residence in the host State. 3. Nationals of a Party who were frontier workers in the other Party prior to the spec- ified date and who have retained their status as frontier workers shall be permitted to acquire immovable property in the other Party in which they are frontier working as provided in Article 25 paragraph 3 of Annex I to the FMOPA.