Proper Way To Own Property in Thailand When planning to own property in Thailand, doing some research is a must before going through with your purchase. In many cases, foreigners may think that the process is straightforward but there are many factors to take into account before taking the plunge….
Many buyers always seem to pay the initial deposit or reservation fee without even checking the main Purchase Agreement or even reading the Reservation Agreement. Ideally the initial reservation deposit should only be paid if the actual Reservation contract states “ refundable in the event of a fundamental legal technicality…
Section 702 of the Civil and Commercial Code defines a mortgage as follows: “A mortgage is a contract whereby a person, called the mortgagor, assigns a thing to another person, called the mortgagee (creditor), as security for the performance of an obligation, without delivering the thing to the mortgagee (creditor).”…
It is almost common knowledge among foreign property buyers in Thailand that we need a Foreign Exchange Transaction form in order to buy a condominium in Thailand. It is an important document required so as to allow foreigners to purchase a freehold condominium unit here. This is essentially the only…
Generally, lease agreements remain valid and binding regardless of the transfer of ownership of the leased property. This is of course on the presumption that (i) a written lease agreement was executed between the lessee and the lessor — owner of the property at that time — and (ii) it…
