Transcript of the above video:

As the title of this video suggests, we are discussing due diligence in Thailand. We are specifically discussing it in the context of Thai Condos. Now I have made other videos in fact contemporaneously with this one, where we discussed due diligence in a more broad kind of context with respect to property generally but we are talking about this with respect to condos. 

Now obviously, there is the due diligence side of it where you are making sure that the person selling it is in fact the lawful owner and can convey freehold title or whatever title you are seeking; in the case of condos you will be seeking Freehold title. But with condos in Thailand, pursuant to the Thai Condominium Act there is sort of an extra layer of due diligence associated with ascertaining whether or not the condo can be conveyed to the buyer under the specific provisions of the Thai Condo Act.

So what I am talking about here is foreigners can own a condo in freehold in Thailand but the overall ownership composition of the condo complex has to be 51% Thai, 49% Foreign. So part of the due diligence is ascertaining the quota so to speak as to whether or not foreigners can take freehold title in that complex or whether or not that 49% has been filled up by people who have already bought it. The other thing to ascertain is well are things like whether the Juristic Person is in good working order; is everything at the Land Office in good working well not good working, but in good condition with respect to land title but a big one associated with due diligence specifically in a condo context, is ascertaining that 49/51 to make sure that freehold title can in fact pass to a foreign national here in the Kingdom of Thailand.