If you are buying or selling property in Thailand, it is important to conduct a property title search. This will reveal the true owner of the land. Moreover, it will also determine whether the property is free of any encumbrances.
Thailand has a variety of land titles. They are issued by the Land Department. These titles are issued in seven categories. Each category has specific requirements. In general, a title deed is an official document that grants you the rights to use or to sell a piece of land. To get the right type of land title for your needs, you should consult a real estate lawyer.
There are two primary types of Thai land titles. The first is the Chanote. This is the most secure type of land title in Thailand. It has been surveyed and plotted according to a national survey grid. A Chanote land title is commonly marked by numbered concrete posts. You can buy, lease, mortgage, subdivide, or sell this type of land.
Another title deed is the Nor Sor 3. This is a document that states the owner’s rights to use and sell a particular piece of land. But unlike the Chanote, the Nor Sor 3 Gor does not give full ownership of the property. However, it can be upgraded to a full Chanote.
There are other types of land titles as well. Among them are the Tor Bor Tor Ha, Tor Bor Tor Hok, and Or Chor 2. Traditionally, all of the land in Thailand was owned by the king. But nowadays, many areas are public land and are not open to private use. Some of the documents that are issued by the Land Department do not allow for leasing or selling.
For foreigners looking to purchase property in Thailand, obtaining the correct title deed is essential. Unlike the US, there are restrictions on how and when you can buy land in Thailand. One is that foreigners can only purchase up to 49% of the registrable area in condominium developments. Foreigners must also show a long history of paying taxes in Thailand. Also, if you intend to lease land, you must have proper permits.
Choosing the best type of land title for your needs can be a daunting task. However, there are some things you can do to make your life easier. First, you should find out what zoning ordinances exist in your region. Second, you should determine who owns the adjacent parcels. And third, you should be aware of any other charges that are related to the property.
Buying property in Thailand is not only fun, but also an important investment. You will want to do your due diligence to ensure you are getting the best deal possible. Before making your final decision, be sure to check the history of the property, and if there are liens or other charges attached to it. Lastly, get a lawyer’s opinion if it is a good idea to purchase the property.
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