Land purchase in Thailand
Tips 4 You
This is a short description of options a foreigner has to purchase a plot of land, for more details and changes to the law, contact a lawyer.
Land purchase in Thailand:
A foreigner has the right to own only buildings; if he wishes to purchase a property he has 2 options.
Property:
The property is purchased on 30 year leasehold, with an option to extend for another 30 years period.
A foreigner with a limited company can purchase a freehold of the land, the land is then owned by the company not by a person.
Condominium:
A condominium is the easiest transaction,
the Thai law allows foreigner to hold 49 % of the units in a condominium on freehold basis.
Land title deeds
This is a short description of the land title deeds in Thailand, foreigners buying land should contact a lawyer to get updated on the latest changes to land ownership.
Land title deeds
There are 3 land titles in Thailand which allow, to build on and own, by foreigners, these are; Nor.Sor. 3 , Nor.Sor.3 Gor and Chanote.
The lowest is Nor.Sor 3:
by law the person holding Nor.Sor. 3 has the legal right to possess the land.
It is issued for a specific land plot and is not connected to other land plots, this causes often problems verifying the land size and location.
Nor.Sor. 3 Gor:
is the same legal land title, but has parcel points on the land map, the points are set by aerial survey, so it is possible to verify land around this plot.
The land plot can be divided into smaller plots.
Chanote:
Land title Deed is a certificate of ownership. The owner has it's name shown on the Deed and legally owns it.
The land has been issued by using GPS to set the boundaries of the land.
This is the most secure land title.
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