Buying property in Thailand can be complicated, but it doesn’t have to be. It’s possible to buy a house or condominium in Thailand remotely from your home country with the help of a Power of Attorney.
When transferring ownership of a Thai property, you’ll need to present your identification documents and the sales agreement. You’ll also need to pay transfer taxes and fees.
Obtaining a title deed
The title deed of land in Thailand is a key factor to consider when buying property. There are six main types of title documents issued by the Land Department and five titles issued by other government departments for different purposes. These title deeds offer different rights of use, occupation and possession. The most valuable type of title is Nor Sor 3 Kor, which carries full rights for the document holder and has clearly defined boundaries. This type of title can be sold, transferred, leased or registered for usufruct or superficies.
The most secure type of title deed is Nor Sor 4 Jor or Chanote. This type of title is accurate surveyed, plotted on GPS maps and in relation to survey tracking grids and marked with unique numbered markers on the ground. The holder of this title has true ownership and can be sold or mortgaged without the need to publish sales acts. This type of title deed can also be passed on to squatters after 10 years of uninterrupted occupation.
Obtaining a power of attorney
A power of attorney is a legal document that authorizes another person to act on your behalf. This person is called the attorney-in-fact. A power of attorney can be either general or special. The former gives broader authority, while the latter is more limited in scope. It is important to specify the powers entrusted to your agent and to ensure that you are not giving too much power.
The power of attorney can be short-term for specific transactions or it can continue until the principal dies (durable power of attorney). In addition, the power of attorney must be signed by two witnesses. It must also be notarized or legalized by the embassy or consulate if it is completed abroad. Our company can help you obtain a power of attorney that is recognized and accepted by Thai government agencies, banks and other businesses. Our foreign and Thai attorneys will provide consultation to ensure that the documents are correctly structured.
Obtaining a building permit
The process of transferring property ownership in Thailand can be complex. It’s essential to work with an attorney who is knowledgeable about Thai property laws and procedures. The attorney will provide direction throughout the transaction and help ensure that all legal standards are met.
Generally, the process begins with a sales agreement and due diligence. Due diligence is a thorough examination of the property, including obtaining a letter from the military confirming that there are no bases in the area. It is also important to review the property’s land transaction history.
The next step is registering the transfer of ownership at the land department. The seller and buyer must present identification documents, a copy of the sales agreement, and proof of payment of taxes and fees. In addition, the new owner should arrange for change of utilities and services to their name. For foreigners, this usually means a power of attorney from their Thai spouse.
Changing the name of the owner
If you plan to buy a property in Thailand, it’s important to transfer the ownership to your name. Don’t listen to anyone who tells you it can’t be done or tries to dissuade you from doing so. The process is easy if you have everything you need.
The first step is to present the title deed and identification documents to a Land Department officer. You should also pay the corresponding fees and taxes. Then, the officer will register the transfer of ownership.
If you are a foreigner, you can also complete the process remotely from overseas. This can be done through video-call conferences or by submitting a notarized Power of Attorney. The document must be certified by your country’s consulate or embassy. A lawyer can help you prepare the appropriate paperwork for this process.