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Buying Property in Isaan Thailand

May 26

When you are looking to purchase a property in Isaan Thailand, you have several choices. Foreigners are not allowed to own land in Thailand unless they have permission from the Minister of Interior. This usually requires a multi-million-baht investment in Thailand. Foreigners who want to buy property in Isaan generally want to set up a home in Isaan with their new spouse. Most of them place the house in the name of their wife and then sign the agreement at the Land Department.

 

Title Deeds in Thailand

There are three different types of Title Deeds in Thailand. The Chanote is the most common type, and comes with full ownership rights. It is similar to a Western title deed, except that it is not transferable. The next type is called Nor Sor 3 Kor, and it can be purchased or leased. If you're not sure whether a property has a Chanote or not, contact a real estate agent to verify ownership.

The Nor Sor 3 deed is the weakest type, as it does not include all of the rights and ownership of a property. In addition, the Nor Sor 3 Gor does not indicate any restrictions on what a property owner can do with the land, and it's not necessary to publish the legal act of sale. If a property has this type of title, you can ask the seller to upgrade it to a stronger form, such as a Chanote deed.

 

Purchase or Leasehold in Thailand

If you are considering buying a home in Isaan, there are two primary types of ownership: freehold and leasehold. While freehold is preferred over leasehold, the latter has its limitations. While freehold property can be purchased for a relatively low price, it is not always possible to renew it. For that reason, it is important to make sure you understand the terms of a leasehold agreement before signing one.

Thai law recognizes that leases of three years or longer must be registered with the Land Department. This is known as the hire of property and is outlined in the Thai Commercial and Civil Code, clause 538. Lease documents must be submitted to Land Departments in Thai and will state the name of the property owner and lessee, duration of the lease, price, and any additional contacts for the property.

 

Performing Property Due Diligence in Thailand

Performing property due diligence is essential before buying a property in Thailand. This process involves checking legal issues, mortgages, and building permits. You should also investigate the current owner's position in the land registry. Then, you should make an informed decision. Our firm helps foreigners and Thais buy property in Isaan Thailand. If you have any questions or concerns about buying a property in Isaan Thailand, please contact us.

The first step in performing property due diligence is to check the assessed value of the property. This is vital, because sometimes sellers will try to cheat buyers by telling them a higher price than the property is worth. A lawyer can help you avoid being scammed by verifying this information and getting you a land title deed. A lawyer can also check the outstanding tax if the property is used for business purposes.

 

Hiring a Property Lawyer in Thailand

The importance of hiring a property lawyer in Thailand when buying property in Isaaan cannot be stressed enough. The legal advisor can help you with a variety of important issues. Depending on your property purchase goals, a lawyer can guide you through the legal process from start to finish. They can also advise you on the best course of action during a difficult property transaction.

Although you may not need the services of a property lawyer in Thailand when buying property in Isaanic Thailand, it is still a good idea to engage the services of a legal professional. Hiring a lawyer will help ensure that your rights are protected and that no problems arise during the buying process. Even if you've bought property in another country before, hiring a lawyer in Thailand is still a good idea.