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Property Legal Services I Should Consider When Buying Property in Thailand

Jun 29

A property lawyer in Thailand can help you with the process of buying a property. They will make sure that the seller is the rightful owner of the property and that the purchase is legal.

They can also explain local zoning laws. For example, properties along the coast may have height restrictions.

Conduct Property Due Diligence

Any time a person acquires immovable property, whether through a merger or acquisition of a company that holds property or through direct land purchase, they are likely to face some legal issues. These can include zoning problems, legal encumbrances, or problems with the usufruct and servitude. Performing proper due diligence is essential before buying any land in Thailand. This includes checking the legal status of the seller, doing a title search, and conducting a physical inspection of the property.

This process is important because it ensures that you are purchasing what you are paying for. It also protects you from fraud. For example, it is vital to know if buildings constructed on the property have received construction permits and if there is any ongoing litigation against the property owner or developer. It is also important to check the property’s land description and to see if there are any mortgages on it.

A property lawyer in Thailand will be able to assist you with this process by translating Thai documents and ensuring that they are accurate. They will also be able to do a background check on the property developer or owner and determine their financial standing. In addition, they can check for drainage problems, road access, and sewage systems. A property lawyer will also be able to tell you if the property has any environmental disturbances.

Sales Contract Review

In Thailand, the property sales contract, which may be written in English or Thai, is a critical document that must be carefully reviewed by the buyer. It contains important information about the buyer and seller, the property, and payment terms. It also outlines the responsibilities of each party and includes penalties for nonpayment. It should not contain any ambiguous or hidden clauses that could lead to legal problems in the future. A property lawyer can review the contract to make sure it adheres to all legal requirements and is clear and understandable for both parties. He or she can also provide suggestions and amendments to ensure that the contract is clear and does not contain any hidden clauses. The lawyer can also help the buyer decide on the appropriate ownership structure for the property.

A lawyer can also check that the information mentioned in the title deed and the sales contract are the same. He or she can also verify that the land and the buildings on it adhere to zoning regulations and environmental laws in Thailand. Moreover, the lawyer can also check whether the government permits required by the law have been granted. This is crucial for foreigners, as they often do not know the local language or laws. Having a professional attorney review the contract can save you time, money, and stress in the long run.

Transfer of Title Deed

Buying real estate in Thailand is not without risk for foreigners and it’s essential to make sure your property purchase is legal. Siam Legal Thai Lawyers can help you understand the process and structure your ownership correctly. Their services include Title Search, Due Diligence, Contract Review, and Title Deed Transfer at the Land Office. We also have experts in property zoning laws which can be very confusing for foreigners and if not checked properly could lead to significant problems with your investment.

Whether you’re investing in land or a condominium, you’ll need to verify that the land title deed is clear. This includes checking for liens, mortgages, leases, superficies, or other encumbrances. You’ll also need to find out how the property was previously transferred. This includes finding out if there were restrictions on the transfer or if it was done under conditions that would not be valid under Thai law.

The Or Chor 2 deed is the most common type of land title for foreign investors in Thailand. It’s a freehold land title that gives the owner complete ownership of their condo unit and a share of the common property that sits on it. Foreigners are limited to this type of land ownership because they cannot own land directly in Thailand. However, there are some exceptions to this rule and Premier Thai Lawyers can assist with these.

Getting the Help of a Property Lawyer in Thailand

A property lawyer is an important asset when buying property in Thailand. The real estate industry in the country is largely unregulated and it’s essential that you get professional legal representation to avoid complications down the road. The attorney can perform due diligence and review the sales contract to ensure that you’re protected as a buyer. They can also advise you on different types of ownership structures.

A good property lawyer can also help you save time and money by ensuring that your transactions are conducted legally. They can also explain the terms of the sale contract and clarify the language in them, ensuring that your rights are fully understood. In addition, a lawyer can help you mediate disputes and settlements if they arise.

The attorney can also help you understand the various fees and taxes that are involved with a condominium purchase. These include the transfer fee, stamp duty, withholding tax, and specific business tax. They can also explain the different options available for foreigners who want to buy property in Thailand.

Many people who invest in property in Thailand do so because of its beautiful beaches, peaceful culture, and cheap cost of living. However, the Thai press is regularly filled with horror stories about people who have lost their property and even their lives due to dodgy land and property deals.