Thai Property Law
A certain amount of taxes are payable upon certain kinds of property whether this is Land, house, Villa or a condominium. These taxes are payable upon sale, purchase or even transfer of property.
Servitude is practically a registered “right of way” that is given to a dominant property that benefits from the servient property, who is burdened by this right of way.
Superficies is “a right to build upon another’s land or in essence to register a house separate from the relevant land, therefore, permitting the building of a structure or a plantation”.
A usufruct, in Thai language provides temporary ownership rights for use and enjoyment of the property along with an advantage of being able to reap the profits from property belonging to another as long as the property is not damaged or altered in any way.
In real estate terminology, an escrow can be defined as an impartial holding of documents or funds related to the sale and transfer of a property. An escrow is designed particularly with consumer protection in mind safeguarding your rights should anything go wrong before the transfer of the property.
Title Deeds in Thailand may be mainly divided into 4 categories; Freehold Title Deed (Chanote Or Nor Sor 4), Nor Sor 3 Gor, Nor Sor 3, and Possessory Right.
In Thailand, we use Rai and Wah to measure the land. It can be complex and can create legal issues for people who do not understand what it is that they are signing at the contract stage.
