Property Lawyer in Phuket
If you ask foreigners where they would want to settle in Thailand, one of the most common responses would be Phuket. Known as a tropical paradise, Phuket offers not only spectacular sceneries, but it is amongst the most developed islands in the country. It is a place where foreigners can live comfortably with their loved ones.
As a result, many are seeking to acquire properties on the island. The properties in Phuket range from luxurious villas to condominiums where foreigners can decide to purchase either for residential or investment purposes.
The main concern is without the correct understanding of the property laws in Thailand, the transactions and process to acquire this dream home may come with future risks and unfortunate circumstances.
Is a Lawyer Necessary When Purchasing Property?
Whether you are thinking about purchasing a million-dollar villa on the beachfront or a one-room condominium in the city center, the transactions are complex and require thorough consideration concerning the legal requirements, especially if you are a foreign buyer who is unfamiliar with the language and the local customs.
Based on Thailand’s property law, though foreigners are permitted to buy properties in Phuket and in other parts of the country, some restrictions are in place. Foreigners can own units in a condominium only as long as it is less than 49% of all units in the building. In addition, the law prohibits foreign individuals to own land, hence, a long-term leasehold is an option to purchase a house or a villa. These are just the basic understanding of Thailand’s property law that any foreign national living in the kingdom should be aware of.
However, there are many more issues that could arise from the transaction phase to the transfer of ownership. For instance, if the foreigner decides to purchase off-plan property, the issues may include delay in completion, wrong specifications, failure to produce a title deed, etcetera.
It is irrefutable to say that the laws in Thailand are not exactly straightforward and there are no regulations regarding property purchases. Therefore, it is regrettably common to see people become victims of fraud.
With that being said, to have someone who is experienced with the local regulations and customs to assist with the purchase is a wise decision. Using property lawyers is not required by the law, but with their knowledge and proficiency in this field, the process will be much smoother with the risks mitigated.
What Services Can a Property Lawyer in Phuket Offer?
- Due Diligence of the Property
The foreign buyer must understand the importance of due diligence when purchasing a property, especially in Thailand where things could easily go wrong. Due diligence conducted by an experienced lawyer can be extremely beneficial as the process will help ensure the credibility of the developer as well as the feasibility of the investment.
A property lawyer in Phuket will assist in researching relevant concerns that may potentially become legal issues in the future. This encompasses the review of the title deed to confirm that every detail is legitimate and the background check of the seller. The due diligence report contains critical information that will help the foreign buyer makes a decision that he/she will not regret.
- Give Advice Based on Local Knowledge
Lawyers based in Phuket are more familiar with the issues occurring locally and the local legal mechanisms. They are aware of the developers’ history in the area, the zoning law in Phuket, and whether there have been any issues with the construction of the property that the foreign buyer is eyeing to purchase.
Moreover, having a good connection in Thailand is invaluable. The property lawyers in Phuket have extensive experience in dealing with relevant authorities in the land office, the district office, or even with the local real estate agent. With a good connection, the lawyers can seek useful and real-time information and are able to provide advice that can prevent any errors or disruptions to the transaction.
- Draft and Review Related Contracts
In matters regarding property, several contracts may need to be signed, such as the Sales and Purchase Agreement, Lease Agreement, Construction Agreement, etcetera. In order to protect the interest of the buyer, the lawyers can assist with drafting or reviewing these agreements which are usually complicated due to the legal terminologies. The property lawyers will be able to guide the buyer through each contract and offer professional advice including determining any potential consequences.
- Timely Support in Case of Emergency
In cases where the property or the construction faces emergency issues, the lawyers located in Phuket can provide prompt assistance if necessary. Sometimes urgent concerns occur without warnings whether it be natural disasters or last-minute disputes. These issues require immediate attention to protect the rights of the buyer.
Apart from the aforementioned, there are other services that the property lawyers in Phuket can provide including facilitating the payment issues and the transferring of the property.
The first step of any property purchase in Phuket or any part of Thailand is to consult an experienced Property Lawyer Phuket. This will help you avoid legal complications and the risks of falling prey to any mishaps that may ensue. The property lawyers should be well acquainted with Thai Property Law and still be able to explain the contracts to the foreign buyer in simple English. We can help you acquire your dream property with optimal solutions to your specific needs. Contact us now for more details.
Siam Legal (Phuket)123 / 27-28 Moo 5, Bangtao Place, Cherngtalay, Thalang, Phuket, 83110, Thailand
Phone: +66 76 326 322