Property in Thailand: Part 10 What about title for a buyer?

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Property in Thailand: Part 10 What about title for a buyer?

Published: 11 Nov 2012 at 02.47
Newspaper section: News

Last week, we said a property buyer should have an agreement to make sure he or she gets the deposit back if something turns out to be wrong with the title.

But what could be wrong with the title? And why does it matter to you if you are buying or long-leasing property?

Let's look at an example. Suppose you have decided to buy a two-bedroom house at a development close to the sea.

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boons
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Discussion 4 : 11 Nov 2012 at 16.484
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Stay away from Thai real estate. The legal protections afforded to foreigners are meager at best. Land ownership isn't possible, and those who say it is are selling snake-oil services which leave buyers on thin ice.

Not to mention the massive bubble in real estate which makes Thailand overvalued for the region.

Why would you buy in a nation with a massive overhang in productive capacity, declining exports and relatively expensive labor compared to neighboring nations?

Every day the games of Greece and Spain are being repeated in Thailand. Overpriced homes are being sold with massive amounts of credit to Thais who cannot afford t
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Bernadette
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Discussion 3 : 11 Nov 2012 at 16.323
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Does this 30-year lease also apply to condominiums?
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watchdog
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Discussion 2 : 11 Nov 2012 at 12.032
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One other suggestion if the unit is in a housing complex. Make sure the develpmen is or can be registered as a (my apologies for the poor transliteration) a 'nitibikhon'. This is a separate legal entity with the authority to collect dues from the property owners and maintain the pool, roads and other common facilities. This is true for Thais and foreigners. If the development is not properly established, property and leaseholders cannot control, maintain and provide access to the plush amenities of the development. This is a big problem in Thailand, and it's the owners - rather than the developer - that get stuck with the problems.
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Ian
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Discussion 1 : 11 Nov 2012 at 09.591
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I would like to see a discussion of the relative merits of a 30 year lease and a usufruct, I believe a lease can be inherited.
Also is a leaseholder entitled to be registered on the Housebook?
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Property in Thailand: Part 10 What about title for a buyer? | Bangkok Post: news