Before buying property in Thailand it is very important to perform a Title Deed Search. This search will determine if the property has any liens if the seller has ownership rights and the type of property documentation.
Our professional fee is 8,500 Baht for the title deed search and to ensure that the percentage of foreign ownership is not more than the allowable 49% if a condo. We check the details of the land with the Land Office to verify that the land for the project actually belongs to the developer as well as any mortgage on the land. We also do a due diligence search for the corporate and financial information of the company that is the developer of the project; we check the corporate documents and balance sheets and verify who are the shareholders and directors. We check to see if the development project has a loan with a bank or financial institution and will point this out to be discussed with the bank or finance company concerned. We also check if the developer of the project has applied for the necessary construction permits with the “Civil Works Office” and also check with the Office of the Environmental Protection to make certain that these permits have already been granted to the developer.
Land Titles in Thailand Nor Sor Si (4) Jor: (Chanote Title or Title Deed Certificate) A true title deed accurately surveyed and marked by Land Office posts. The land can be sold or transferred unless the previous owner stipulates restrictions in selling or transferring that the new owner is not able to sell or transfer the land for 5 or 10 years after the acceptance of ownership of the estate.
Nor Sor Sam These are land title deeds issued by the District Land Office with clear records of ownership which can be sold or leased by posting 30 days notice to the public. They are less accurately surveyed that a Chanote.
Nor Sor Sam Kor These are similar to the above but are more accurately surveyed and correspond to an area on an aerial photograph. They are registerable as a right of ownership.
Sor Kor Nung These are only a notification of land possession and to continue existing rights. Long-term dwellers may have the right to apply to the government for a higher form of title deed.
Tor Bor Tor Hok and Tor Bor Tor Ha These are squatter’s claims to occupy land that has been settled. It is not possible to legally build on the land, sell or lease it.
A title search is imperative before buying any type of property whether it is a condo or land. Following are the reasons why title search is important:
An extensive range of official documents is used to show land ownership. There are some documents that don’t allow sale or lease of the land.
Here is what we can do for you.
When we conduct the title search we deliver the complete report in Thai. Along with this, a copy of the title deed in English is provided as well. Therefore, if you don’t understand the property laws in Thailand, call us or pay a visit. Our staff is always ready to assist you and they will help you through the process. They guide and help you understand the laws. It is the main reason why Sunbelt is the best.
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US Treaty Of Amity
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SUNBELT ASIA CO., LTD.
Fortune Town 26th Floor,
1 Ratchadapisek Rd, Dindaeng
Phone: +66 (0)2-642-0214
Fax: +66 (0)2-641-1995
Email: [email protected]beltasia.com