Buying property in Thailand whether it’s a condo, a house/villa or a piece of land is fast becoming popular among foreign investors who would like to have a holiday home in Thailand or simply as a form of investment. The form of ownership can be either freehold or leasehold depending on the type of property to be purchased. Our firm is experienced in assisting foreigners with their property purchase in Thailand. Always take legal advice from a property lawyer in Thailand.
Thai Property Law (Buying & Taxes)
Buying a condo in Thailand seems to be the most popular real estate transaction among foreigners in the Kingdom. The popularity of this practice may stem from the fact that condominiums are the only properties that foreigners can own free hold or that which can be registered in their own names. Foreigners are not allowed to own land in Thailand. But, there are certain avenues provided by Thai laws in which a foreigner may be able to acquire land in Thailand. Speak to a property lawyer first before you decide to buy property in Thailand as the Title Deeds are very complex.
Thai Property Law (Property Protection)
If you are considering investing in property in Thailand then you need to ask your lawyer to do a due diligence on the property you are wanting to buy. The very basics of a due diligence has been listed below and the reasons why certain aspects of the property need to be checked. When you are buying property in Thailand you need to have a due diligence report done on the property not only to check the title deeds but also to ensure that there are no servitude’s registered against the title deed. Always speak to a property lawyer.
Thai Property Law (Common Issues)
If you are married to a Thai then the property rights are defined by the Civil and Commercial Code of Thailand. These laws had mainly been written for Thai nationals so there are additional issues when it is a Thai and a foreigner when it comes to land in Thailand. The title deeds system in Thailand is not like anything in the West and many times this creates problems when foreigners buy property in the name of their Thai wife and don’t get what they thought they would be getting