4 Common Legal Services for Buying Properties in Thailand

Real estate investors in Thailand often run into problems relating to their property investments. Some of these problems can be easily avoided if they seek the advice and services of reputable Thailand lawyers or law firms.

Foreigners are prohibited from purchasing land in Thailand but may own buildings under certain circumstances. Siam Legal Thai Lawyers can explain the process and help you structure your purchase properly.

Conduct Property Due Diligence in Thailand

The property due diligence process in Thailand involves a detailed investigation of a property before purchasing it. This includes examining all legal documents and verifying the seller’s identity. This helps avoid any legal complications in the future. It also ensures that the property complies with zoning laws.

The first step in conducting a property due diligence investigation in Thailand is to check the land title deed. It is important to make sure that the owner has a valid title and does not owe any back taxes. It is also necessary to check if the land has any usufruct, superficies, or lease agreements registered against it.

Conducting a title search is essential in Thailand because the country has a complicated system for land registration. This process reveals whether the seller has a legal right to sell the property and if there are any liens attached to it. It also checks if the developer has the financial resources to complete the project.

Sales Contract Review

Whether you’re buying a property directly from a developer or resale, the sales contract is an essential document that should be reviewed by a lawyer. This process helps you understand the terms of the sale and protects you from unfavorable legal clauses.

A property lawyer can also ensure that the information in the contract matches the title deed and government permit. They can also check if the land and buildings on it meet zoning regulations and environmental regulations. They can also translate the contract to help you understand it better.

Real estate contracts often contain ambiguous terms that can lead to legal disputes later on. A contract review service will clarify your responsibilities and protect you from costly mistakes. It can also prevent you from wasting your money on an expensive and risky investment. This is a worthwhile service for both foreign and local buyers. It is a vital step in the purchasing process and can make or break your deal.

Transfer of Title Deed in Thailand

The main issue in any real estate transaction in Thailand always relates to land ownership and title deeds. The laws of Thailand forbid foreigners to purchase direct land ownership, but there are ways – such as buying through a Thai registered company and using a servitude, superficies, or usufruct.

The land department in Thailand will issue a duplicate copy of the title deed (Chanote) to the buyer and keep one at the land office. It is essential that a property lawyer is present for the transfer process.

Beware of real estate agents that claim to be a lawyer and do the legal process for you. They may do things that are against the law or against your best interests. You should only use a licensed and professional property lawyer like Siam Legal for your Title Transfer process in Thailand. This way, you will have the peace of mind of knowing that everything is done properly and legally.

Draft Last Will and Testament in Thailand

A well-drafted Last Will and Testament is important as it will clearly state your wishes for what will happen to your assets in the event of your death. This will avoid any disputes between family members over what you want. It can also make your estate easier to settle.

Foreigners are allowed to make a Will in Thailand if the document meets certain requirements. It must be written in either Thai or English, dated at the time of its creation, and signed by the testator (the person making the Will) in the presence of at least two witnesses.

It is also advisable for people who own properties in Thailand to draft an estate plan. This will help their heirs to pass on their inheritance faster. Otherwise, the heirs may face a long and complicated process of settling the estate. This can cost them time, money, and stress. It is also a good way to minimize tax obligations.