The process of property title transfer in Thailand varies depending on region and individual circumstances. To help you navigate the process, it’s advisable to consult with legal professionals and real estate experts familiar with Thai property laws.
The process of transferring ownership involves going to the local land office with all necessary documents and paying corresponding fees. You can also sign a notarized power of attorney to complete the transfer remotely from abroad.
If you’re looking to buy a property in Thailand, it’s important to understand the different types of land titles and what rights they give you. There are three main types of deeds: Chor 2 deeds, Nor Sor 4 Jor deeds, and Chanote deeds. Each type of title deed has its own benefits and drawbacks.
A chanote deed is the most secure form of land ownership in Thailand. It gives the holder full ownership of the property, and it can be sold or mortgaged. It also allows the holder to build on the property and to lease it.
The process of transferring ownership is straightforward and typically takes 1-3 hours. During the transfer, the buyer and seller will exchange cheques or cash and hand over keys, access cards, and other relevant documents to each other. In case you cannot attend the transfer, you can sign a power of attorney that allows someone else to represent you at the land office. This power of attorney should follow official standards and be notarized in your country of residence.
Power of attorney
Power of attorney is a legally binding document that grants one person the power to act on another’s behalf. The person giving the authority is called the principal or grantor, and the person receiving it is known as the agent or attorney-in-fact. The scope and durability of the powers granted can be limited or broad, depending on your needs.
It is important that a power of attorney be drafted correctly and carefully. Otherwise, it can be challenged by third parties or revoked. We have a team of foreign and Thai lawyers who specialize in these documents and will work with you to craft an effective document that is enforceable under Thai law.
If you are transferring ownership from overseas, we can prepare and have your Power of Attorney notarized at the Embassy/Consulate of your country of residence before sending it to Thailand for approval by the Land Department. This allows the transfer to be completed remotely from abroad.
Visit to the land office
The process of purchasing property in Thailand is complex and requires a thorough understanding of Thai law. A property lawyer can help you navigate this process and ensure that it meets all legal requirements. They can also help you find a buyer for your property and arrange utility transfers into your name.
The first step in the transfer process is a title search. This will confirm the ownership of the land and determine any registered encumbrances. It is important to remember that all land in Thailand originally belongs to the king.
The next step is the purchase and sales agreement. You should agree on the terms of the sale and the purchase price before proceeding with the transfer. You will need to provide the following documents:
Taxes and fees
When buying property in Thailand, you should be aware of the taxes and fees that are associated with the transaction. These are often based on the value of the property and should be paid by the buyer. Failure to pay these charges can result in a delay in the transfer of ownership.
The first step in completing a property title transfer in Thailand is drafting a sales contract. This document sets out the terms of the purchase, including the purchase price and payment periods. It also includes provisions for a due diligence process to confirm the property’s title and identify any liens or other encumbrances.
The next step is completing the necessary paperwork and paying the corresponding fees and taxes. This involves compiling the sales agreement, original title deed (Chanote), tax receipts, and corporate documentation if applicable. In addition, you must pay the requisite transfer and registration fees. These include transfer fees, specific business tax, stamp duty, and withholding tax.