- brian ramsden
Questions about Property Law Thailand
Many foreigners buy property in Thailand, some in their wife or partners name and some using other methods.
We are looking at some of the Questions about Thai property law.
Question
Can Foreigners own land in Thailand in their own name?
Answer
The answer is simply No (except under very special conditions go to our website www.lawyersforexpatsthailand.com for more details).
Question
Can foreigners own a condominium in their own name?
Answer
Yes, condominium ownership is allowed if no more than 49 per cent of the building is owned by foreigners.
Question
Can a foreigner legally own in their own name a house or villa (landed property)?
Answer
No, a foreigner cannot own a house or villa which by Thai law is defined as Landed Property in their own name. Except if the house is separated from the land and the foreigner has a superficies agreement on the land .But ownership of the house is limited to the length of the superficies term.
Lawyers for Expats Thailand provide legal solutions to protect foreigners’ property investment in Thailand.
We do not circumnavigate the law we follow the law and offer safe and legal solutions to protect your property investment.
Question
If I buy a house or villa (landed property) in my Thai wife’s name does this make me a joint owner of the land and house?
Answer
If you are married to a Thai National (registered ) in Thailand, then any assets acquired after the marriage become matrimonial property and therefore, they are jointly owned by the husband and wife including Real Estate.
There is an exception to this ,
If your wife shares your surname, and you attended the local land office when the house or land was transferred to her, and you signed the papers.
If you signed paperwork at the land office, it would have been to state that the land is not part of the matrimonial property, and that the money did not come from you, and this is your wife’s private money.
The answer to the above question is No you do not jointly own the land and house in this circumstance .
Therefore, this house is excluded in matrimonial property, and you have no claim on this property.
If you are married and purchased property with your wife and attended the land office, it is not too late to secure your investment simply contact us for free consultation lawyers for expts Thailand can assist you .
Question
Can I set up a company to purchase a Landed Property (House or Villa ) or Land.
Answer
The law states that it is illegal for a foreigner to set up a Thai Company for the sole purpose of owning property.
Question
What does this mean?
Answer
If the company does not trade and has been set up purely for the purpose of land ownership this is illegal.
If a company is a legitimate entity and trades, then the company can own the (Landed Property) House or Villa or Land.
Note on Company Law
Foreigners are restricted to 49 per cent of the shares in a Thai Company 51 per cent must be owned by Thai shareholders.(with the exception of a Board of Investment 100 per cent owned foreign company)
Nominee shareholders are also illegal and can be problematic.
Important you do not own the property the Company owns the property, and you can only own 49 per cent .
Question
Is there a safe and legal way to protect a property investment?
Answer
Yes, Lawyers for Expats Thailand can provide legal solutions that are safe and offer foreigners the protection they need.
Contact us for a free consultation at info@lawyersforexpatsthailand.com
Tel +66956583038
www.lawyersforexpatsthailand.com
#englishspeakinglawyersthailand
