Thailand Real Estate Lawyer
The basic principle of the Thai real estate law constitutionally prohibits foreigners from owning land or property except unless granted through regulated structured affairs. As discussed in other sections of this website, there are alternatives to buying property in Thailand. Although the governing laws are pretty well straightforward and simply need to be understood and observed, the legal process required to meet the Thai real estate law may conjure up perplexity and confusion to many, especially the non Thai investors.
Getting legal assistance from a reputable law firm in Thailand that will act in your interest can provide a number of advantages to make moving into Thailand a transition with much less difficulty and complications. Our Thailand real estate lawyers specialize in Thailand real estate law and have decades of experience assisting Thai and foreign nationals in the kingdom.
Responsibilities of a Real Estate Lawyer
A real estate lawyer must be prepared and is well equipped to review documents relating to purchase agreements, title documents, mortgage documents, and transfer documents.
A lawyer hired to handle real estate transactions will always be present during the signing of documents with the client. The lawyer is there to ensure that the transfer is legal, binding, and in the best interests of the client.
In the case of a real estate dispute, such as encumbrances or other issues involving contracts, the lawyer will resolve the problem.
A lawyer may also provide legal representation for either a buyer or a seller when a dispute winds up in a courtroom. The lawyer should obtain facts from both sides of the dispute and bring them to a resolution.
Why Hire a Real Estate Lawyer?
If you are looking to purchase a new house in Thailand, invest in Thailand real estate, or sell real estate, you may be wondering whether you need to hire a real estate lawyer to assist you in this transaction. Since this involves substantial investment, you may want to find ways to cut costs and avoid paying the lawyer’s fees. However, failing to hire a good lawyer to assist you in the selling and purchase of real estate property can end up costing you more money in the long run.
Having a real estate lawyer on your side can actually save you a lot of money. Not only that you will be guided every step of the legal process, you will also have an open line of communication with the lawyer throughout the process.
Your lawyer will review your documents every step of the way. It will be easier to resolve problems that come up while the closing is in progress. Having an experienced lawyer on your side means that you will have someone to represent you for your best interests should a problem arise.
Additionally, because Thailand real estate lawyers are trained extensively in the Thailand Real Estate law, you will have peace of mind in knowing that your lawyer has reviewed all of the closing documents and has made sure that your title in the property is valid.
As your Lawyer in Thailand, we ensure that proper legal procedures are followed during the sale and acquisition of the property. Making sure that the purchased property is properly zoned for usage. Our property services include title search, property due diligence, contract review, transfer of title, and drafting of last will and testament.
Real estate investments involve a large amount of capital and every investor would want to ensure that every bit of their money goes to the right place. People who are not new in making property investments understand the importance of doing Title Search. There have been numerous land reform initiatives in Thailand over the past years, and employing this service before making any property purchase will help eliminate fraudulent and unlawful real estate transactions in the industry.
This service is employed basically to further give grounds for the eligibility of both the property and the sellers the investors are dealing with. Due Diligence aims to acquire more information about the piece of property through physical inspection on the land, inspection of building permits and local courts record review of the seller or developer. The report will include:
- a title search
- scanned copy of title deeds, building permits and other related documents concerning the property
- photographs of the land
- information about owners of adjacent land
- clarity about property boundaries, legal access rights, encumbrances, etc.
- research into the sellers / developers of the real estate property
The standard contract of sale in Thailand may oftentimes not give an expounded detail of the buyer's and seller's rights and obligations. To anticipate any possible errors or issues on the legalities and completeness of a contract, foreign investors can greatly benefit from getting a Contract Review by a property lawyer in Thailand.
While it is important to pay attention to the preliminary process involved in real estate purchases, the transfer of property title requires more careful heed and understanding. This is to administer awareness of all the fees to be paid at the Land Department, aside from the base purchase price of the property, which include different taxes and transfer fees. In some instances where the buyer of the real estate is unable to attend the Land Office when effecting the transfer of title, the real estate lawyer may represent the buyer and take care of the real estate transactions at the Land Office in Thailand through a power of attorney.
Consult with Siam Legal Real Estate Lawyers
Whatever kind of property you settle on buying, it is very important to seek professional advice from someone who knows the local market, the language, the country and its particular practices, and well versed in the Thailand real estate law. A reputable Thailand law firm is ideal for this and recommended that you take the time to sit down and talk with us before you even consider signing any reservation agreement and paying a deposit. It is common in Thailand for these agreements to be non-refundable and many clients who approach us after signing such agreements, only to discover there is an issue with the property or the seller.
Our Thailand real estate lawyers can give suitable advice on the fitting property investment avenue which is specific to our clients. You may contact us anytime and see what we can do to assist with your investments in the Thailand Real Estate market. Our Bangkok law firm is conveniently located at Two Pacific Place Building, 18th Floor Unit 1806, 142 Sukhumvit Road.