Condominium lawyers: Bangkok, Pattaya, Hua Hin, Phuket

Condominium acquisition Thailand Condominium acquisition 'off the plan' Condominium acquired by inheritance Thailand condominium Act

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Resources Article about buying a condo in Thailand Thailand Condominium Act Condominium conveyance tax and fees

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  Buying a condominium 'off the plan' in Thailand 

Buying a condominium that is not yet completed or based on the plans of a building requires a different approach than buying in a completed building or a resale unit.  In case of an off the plan purchase the pre-contract phase should include a check on the background and track record of the developer, including verification with government departments if various development licenses have been granted or applied for and if the project is legally viable. The pre-contract due diligence phase is aimed at discovering existing legal issues that could prevent completion and possible default by the developer (i.e. minimizing the risk of loosing your deposits).

An off the plan purchase for foreigners could involve a freehold or leasehold purchase contract, depending if the 49% foreign quota in the project has been sold out. The contract should clearly state if it is a freehold or leasehold purchase. The condominium purchase contract must comply with minimum standards as required by law and consumer protection laws. In 90% of the contracts we see provisions included in the contract that are not according to the law (e.g. relating to the building warranty periods or calculation of assignment fees) and transfer costs are passed on to the buyer that are by law the responsibility of the developer.

We review condominium purchase and leasehold contracts online for a mere 4,800 THB. A qualified English speaking Thai lawyer will advice in detail on the contract and suggest required amendments (if any) and advices on compliance with the law. In the majority of the cases we review a condominium purchase contract this is profitable for the buyer (you will save on lawyer fees and travel time).  

The unit price in the contract is based on the 'saleable' and the final price on the 'registrable' area of the unit. Saleable area means the area on which the contract price is based, and registrable area means the price based on the final exact floor area upon completion measured by the Land Department, and which will be shown in the condominium unit title deed. In the survey by the Land Department the registrable area is measured from the center of the walls between the units and is not the exact  floor area measured from the the wall. The outside structural wall of the condominium is again common property and not private property belonging to the unit. The final condominium price paid on transfer of the condominium based on the measured area by the Land Department is in the majority of the cases higher than the contract price as stated in the condominium sale and purchase agreement.

   Condo acquired by inheritance (or gift)

The Condominium Act divides foreign heirs of condos in qualified and unqualified heirs for ownership registration of the inherited condominium unit. Unless the foreign heir or successor is qualified for ownership under section 19 of the Condominium Act, any foreign heir who acquires a condominium unit by inheritance, either under will or as a statutory heir, must dispose of the unit within one year of acquisition of the unit (section 19 septum Condominium Act). The mere fact of heirship does not qualify the foreign heir for registering foreign ownership at the Land Department and a foreign heir must meet the same criteria as any other foreign purchaser of a condominium in Thailand.

It is not unusual for foreign heirs obtaining ownership of a condominium by inheritance to encounter problems having to deal with transferring ownership of the condominium at the Thailand Land Department or even selling the unit in time. Foreigners owning a condominium could prevent problems by planning succession of their unit in a Thai last will, and foreign heirs of a condo unit should obtain legal advice and assistance to have their rights and duties under the Thailand Condominium Act explained in an early stage of obtaining ownership of the unit by legal professionals familiar with condominium conveyancing procedures. 

• Condominium acquired by inheritance

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