For the foreigner who is considering to buying a property in Thailand whether it is a land, a house, or a condo is advised to take legal advice from a Thai real estate lawyer. Also the region’s property sector can be a profitable to do business, but there are many difficulties; the real estate markets here are still developing and there can be a large swings in the costs of everything from land to material costs. Hence, having an experienced real estate lawyer team is indispensable.
Our Thai lawyers have an extensive knowledge and experience gleaned from advising a broad range of transactions in Thai Property Law which allow us to contribute decisive and flawless advices to our clients.
We commonly handle cases with multi-national corporations, private investors, entrepreneurs on real estate matters such as property development, property acquisitions, and property dispute. We advice our clients to avoid disputes, mitigate risk, and boost their profit on investment.
To protect your estates in Thailand, we recommend you to follow the following procedures before you purchase any property here; Purchasing a property in Thailand, these procedures have to be justified to authenticated the legitimacy of the owner of the property.
In case that the seller slip away after you transfer the money or the property you purchased is owned by another person, you will be involved in an unneeded lawsuit.
A Title Search on the property should be proceeded before signing the Sale and Purchase Agreement or delivering any payment, to check for any burdens in the property and to justify the Title Deed. In addition, before making a decision, many factors such as local rules and regulations, back taxes, and property history
need to be taken into consideration as well.
Review of Contracts
When it comes to interpreting any contract, it is a must to have an experienced Thai Property Law Lawyer who able to clarify the legal terms and conditions in Sale and Purchase agreement to assist you through the whole purchasing procedure.
Having a legal advice from a Thai lawyer could help you understand all the consequences and significance of the legal terms of the agreement. On the other hand, Thai-speaking lawyer could represent you and negotiate with the seller reaching a common interest for both sides.
Registration of Property Transfer
According to the Laws and Regulations of Thailand, the conveyance of the ownership over a property could not be achieved only by handover the title deed between the purchaser and the seller. It shall be accomplished when both parties have registered the transfer of ownership at the Land Department.
To register the transfer of ownership at the land department takes a lot of time and have to follow many procedures that required Thai language. In practical, most of the foreigners authorize the lawyer via Power of Attorney acting on behalf of the foreigner dealing with the land department.
The property transaction that required to be registered at the Land Department are Sale and Purchase of Property, Lease of Property, Mortgage of Property, Right of Habitation, Servitude or other burdens over the property.