Thai Real Estate and Property Lawyers

In recent years, Thailand has become very popular for those seeking a tropical paradise in which to retire. Also, many young people are attempting to become expatriates by moving to Thailand. For anyone wishing to remain in the Kingdom long term the question of property
purchase eventually arises.

Thailand is a popular place for those wishing to purchase a vacation home or a home to live in while enjoying retirement. Under current Thai law, buying property can be difficult for those who are not Thai citizens. In Thailand, a foreign national cannot purchase land without authorization from the Thai Minister of the Interior. As a practical matter, this authorization is very difficult to obtain. The result: a virtual bar upon foreigners owning land. Fortunately, there are some special dispensations offered to foreigners who wish to purchase Thai Real Estate.

The most notable exception to the restrictions placed upon foreign land ownership is the right of foreign nationals to own a Thai Condominium in freehold. The foreign owner of a Thai Condo is entitled to a Chanote (the name of a freehold Title deed in Thai). If the foreign national’s name is on the Chanote, then he or she is recognized as the owner of the property. In some cases, the owner may opt to have a Thai mortgage. In these cases, the mortgage will also be noted on the Chanote and Mortgagor will have rights in the property.

Another method of foreign control of Thai property is through use of a long term Thai lease. A Thai lease can be drafted with a validity period of up to 30 years. Under Thai law, very few leases are enforceable past 30 years. Also, it should be noted that any lease that is not recorded on the Chanote will not be enforceable past 3 years.

Thai law permits the recordation of a Thai usufruct. A usufruct is an instrument whereby the usufructee is granted rights of use in the property. In some cases, the right of use can be granted for a person’s lifetime. A right often associated with a usufruct is the instrument known as a superficies. A superficies is similar to a usufruct, but there are subtle differences and anyone interested should contact a competent Thai attorney to explain the rights and obligations inherent in these two instruments.

There are some cases in which it may be necessary for a Thai company to own property. In cases such as this it should be noted that such structures must be incorporated carefully as there are many pitfalls associated with corporate ownership of Thai property.

For those interested in speaking with an attorney please contact Integrity Legal to learn how they can help secure one’s property interest.