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Real Estate in Thailand
Many foreigners travelling to the Kingdom of Thailand think about buying property in the tropical paradise in order to live in their dream home nestled nicely in a dream location.
However, Real Estate ownership in Thailand can be difficult. With the exception of condos in Thailand, there are express restrictions under Thai law forbidding foreigners from owning land. These restrictions can be circumvented, but there are still risks that dreams of owning Real Estate in Thailand will be frustrated.
Another method employed by many long term foreigners is the use of a properly drafted long term Thai lease on Real Estate. Leases will be recognized by Thai courts so long as they comport with Thai legal formalities. Much incorrect information circulates about Thai leases. Integrity Legal suggests that anyone looking to obtain a Thai lease first retain competent legal counsel in order to assure that the lease properly comports with Thai Real Estate law.
A Thai usufruct is another method which foreigners employ in order to effectively own Thai Real Estate. This is a Thai ownership right that can grant a right of complete enjoyment of the land to a foreigner for the whole of their life (and possibly beyond). A Thai superficies is another Thai property right that offers even more legal coverage than a usufruct. A Thai usufruct or Thai superficies are instruments that should be drawn up by a competent legal professional. These types of legal instruments should be custom tailored to suit a foreign property owner in Thailand. For these reasons Integrity Legal encourages anyone interested in purchasing Thai Usufructs, Superficies, or any other form of Thai Real Estate to do so only after consulting with a competent legal professional.
Although it may seem daunting at first, Thai Real Estate and Property ownership is not an unreachable goal. The best way to ensure that a foreigner’s rights in Thai Real Estate and Property are protected is to retain a competent law firm that understands the nuance and intricacies of Thai Real Estate and Property law while also maintaining an ability to deal effectively with officials at the Thai Land Office and the Thailand Ministry of Commerce. Integrity Legal has a great deal of knowledge with regard to Thai Real Estate matters and has extensive experience in interacting with government offices throughout Thailand. Call Integrity Legal today and take the first step toward getting your dream home in Thailand.
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