Property Title Transfer in Thailand is the process by which ownership of a property, such as a house or condominium, is transferred from one person to another. The transfer of ownership is an important part of any real estate transaction, and it is important to understand how the process works in order to make sure that it goes smoothly.
The first step in the property purchase process is to get a land title deed for the property. These documents are issued by the Thai government and provide information about the land’s ownership, survey status, as well as any registered encumbrances on it such as mortgages or long-term leases.
If you are buying a home or condo in Thailand, it is important to speak to a professional property lawyer in Bangkok before signing any documents. This is to ensure that the property has a valid land title deed and that you are purchasing it from the right person.
There are several types of property titles available in Thailand, including freehold land, condominiums, and villas. It is important to choose the best type of title for your needs.
The Land Department is the organization in Thailand that regulates all land related transactions, such as the sale and purchase of a plot of land, the transfer of ownership, and other legal issues. The land department also handles the issuance of title deeds and other forms of documentation in the real estate industry.
Getting a Land Title Deed
The first step in getting a land title deed is to contact the Land Department. This will require you to fill out an application form and pay a fee to the land office.
Alternatively, you can also hire a private surveyor to complete the land title deed for you. Depending on your needs, this may be an option that is more cost-effective for you.
Once the land title deed has been obtained, you can go to the land office and schedule a transfer date. This can be done at a time that is convenient for you, and it typically takes 1-3 hours.
If you are unable to attend the transfer of ownership in person, you can use a power of attorney. This document allows a third party to act on your behalf and it needs to be certified by a lawyer or a public notary.
You can also make a video-call conference with a Land Department officer or sign a notarized Power of Attorney to remotely complete the property transfer from overseas. This is a common option for property owners who cannot travel to Thailand in person.
It is recommended to have a Thai legal advisor and a local property agent with you in case of any problems. This will give you peace of mind and ensure that the transaction is properly handled.
The land office will then process the ownership transfer of your property. During this process, you can expect to have to pay the Transfer Fee, 2% of the official appraised value of the property, as well as any other applicable fees or taxes.