Category: Condominium
Tips on Buying Condominium Units in Thailand
Initially try and find a condominium unit(s) on your own based on the place/location/style that suits your needs and meets your taste within a budget that you are comfortable with. If you cannot find anywhere that suits you, contact a few property agents to help show you more properties from different developers either off-plan or […]
Foreign Currency Requirements for Purchasing a Condo
The Condominium Act of 1979 is restrictive of foreign ownership of condominiums in Thailand, but generally allows it for foreigners who permanent residents, or those who have entered the country on an investment promotion visa, or for those who have fulfilled certain requirements related to the transfer or withdrawal of foreign currency. In regards to […]
Unregistered Condominium Projects in Thailand
In Thailand, the Condominium Act of B.E. 2522 (1979) provides for the registration of a condominium project. In order to register a condominium project, the developer must owned the land upon which the condominium project is situated. Once the project is registered, the Land Department official is able to issue title deeds for individual units […]
Challenging Condominium Resolutions under Thai Law
Do owners of condominium units in Thailand have the right to challenge unlawful resolutions passed by a general meeting of the condominium’s co-owners? The Condominium Act of B.E. 2522 (1979), amended as recently as 1999, has detailed rules regarding general meetings of the co-owners, but in fact does not have any provision addressing the cancellation […]
Right of Rescission under Thai Law
Under Thai law, in what situations are you allowed to rescind contract? In other words, when are you allowed to terminate a legal agreement without being held to be in breach? The Civil and Commercial Code has certain rules regarding when you are allowed to exercise the right of rescission: First of all, you are […]
Property Purchase in Thailand: Why Due Diligence
There are many foreign investments which involve the purchase of real estate. Whether for business reasons, an investment visa, or a residence, the purchaser of the property must apply Due Diligence to the purchase of the property. A quick and smooth transactions sometimes causes the purchaser to overlook issues that will affect the ability of […]
Handy Tips and the Know-hows for Purchasing Property in Thailand
Situated at the center of the Southeast Asian region with it’s tourist attracting slogan; Amazing Thailand, the country has been seeing a high increase of tourists visits over the years. According to 2013’s Global Destination Cities Index, Bangkok was listed as the number one tourist destination with roughly 15 million visitors.1 Seeing how attractive a […]
The Thailand Real Estate Investment and Property Law Forum 2013
Asia Business Connect held the “Thailand Real Estate Investment and Property Law Forum 2013” conference at the Bangkok Convention Center last September 19th to September 20th. Mr. Kert Stavorn, a partner at Siam Legal International, gave a presentation regarding “Contract Strategies and Legal Concerns in Sales/Property Contracts for the Real Estate Business” and also sat […]
Property Lease in Thailand
Considerations for Lease Agreements in Thailand Given the substantial issues relating to foreigners owning a freehold interest in Thai land, a more viable option for people wanting to have a legal and long term interest in the property is done through lease agreements. There are however a number of pitfalls to be aware of, much […]
After I Purchase Property in Thailand, Should I make a Thai Will?
If you purchase property in Thailand, including a condominium, long term lease or shares in a Thai registered corporation, be sure that your estate plan takes your new property into account. Thai law provides that the succession to your immovable property in Thailand is governed by Thai law, so if you own a condo or […]
