The process of buying a villa in Thailand may consist of several transactions. Since houses are considered as a structure based upon land, and property law dictates that foreigners are not permitted to own land, generally a lease of the land is provided for buyers to enter into and this is where you'll need Juslaws & Consult
Villas are usually specified as exclusive homes that are titled as "private" located within specific boundaries designed by the developer inside a gated complex. There are many villas located in these specific areas usually have a general common theme. Buying a villa is very appealing to as this offers a true exclusive home ownership within a gated complex and some even offer excellent facilities within the area. It is to be noted that developers who obtain their license to build these villas must dedicate to build within these specific boundaries.
There are many advantages that are offered to general home owners within the gated complex of villas such as facilities. Since this home is not located on its own, it generally has property management in that a specific company is dedicated to serving the home owners facilities and maintenance such as gardening, electricity, water and even garbage disposal. These services are usually paid for as maintenance fees on a monthly basis creating less hassle for the home owner as an individual. With a property manager in place, they may also provide home owners living in the community of the gated complex, with general by laws to abide by. These are not uncommon and are beneficial to all home owners.
The process to purchase a villa in Thailand may get a little complex and may consist of several transactions. Thailand's property law states that houses are considered as a structure based upon land, since foreigners are not permitted to own land, generally a lease of the land is provided for buyers to enter into. This will consist of the maximum period of 30 years which would then, once entered into, be registered at the relevant land department located in the area. A separate sales and purchase agreement will also be in place for the purchase of the villa as a separate structure. This will then be attached to the land title deed located at the land department. However, depending upon which area you are purchasing in, this may not always be the case.
The other transaction that may be entered into is a lease contract entered into for the maximum period of 30 years for the lease of the land from the developer, and subsequently, the individual building permit of the villa itself will be transferred to the buyer by the developer. This involves the holder of the permit providing a statutory notice at the land department 30 day notice issued by the Land Office to transfer the house in which the developer or seller have to produce to the land office the construction or building permit, the Tor Ror 900, and the House Registration booklet to the land office. Once the 30 day period has expired, the house then transfers to the buyer and the lease is registered at this time.
Regardless of whether you choose to buying a villa or any other type of property it is suggested that you contact a lawyer or solicitor in order to ensure the correct purchase procedure. If you want more information on buying land in Thailand, buying a condominium in Thailand, or on real estate due diligence please do not hesitate to contact Juslaws & Consult at our Bangkok or Phuket office to learn more.