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Legal Services Before and After Buying Property in Thailand

Oct 21

If you are planning to buy real estate in Thailand, you need to know all the legal procedures and laws before making your purchase. You also have to know about the property transfer fees and the encumbrances of the property. This is known as due diligence. In addition, you should ensure that your property is free of encumbrances before making a final decision.

Sales Contract Review in Thailand

When buying a property in Thailand, it is important to consult a lawyer before signing any contracts. It is also important to understand the local property laws and legal processes. Other legal services law firms provide free legal consultations to property buyers. This is especially helpful for foreigners, who may not be familiar with the local laws.

Legal costs can vary from 150 THB to 250,000 THB, depending on the type of property, type of ownership, and the age of the property. To avoid unnecessary financial outlays, it is important to retain a legal expert before signing any contract. Getting a contract reviewed is important because it protects both the buyer and seller.

Foreign property buyers should always seek advice from a lawyer and estate agent based in Thailand. These professionals are familiar with Thai property laws and customary procedures, so they can advise buyers on the best ways to buy property in Thailand. A lawyer will also be able to assist them with setting up a Thai-registered entity to own the property.

Drafting a Will in Thailand

Before you buy property in Thailand, it is a good idea to draft a Thai Will. If you fail to do so, the seller may keep the deposit. In such a case, you should consult with an attorney who specializes in Thailand. Then, you can make sure that your wishes are carried out by someone you trust. After all, you want to avoid having to deal with any legal hassles.

There are many different types of wills in Thailand. The most common is the written will, which must be signed by the testator and two witnesses. It is important that the will be properly translated and authorized by the Ministry of Foreign Affairs. The legal process to enforce a legal foreign will can be time-consuming, as it must go through the court system.

Another important aspect of drafting a will in Thailand is funeral arrangements. This is important because if you pass away without a will, the estate will go to the Thai State. Therefore, you should make sure that your Thai Will includes all your assets in Thailand. Also, be sure to include land owned under a company. Land owned under a company will be passed down as shares, which are subject to complex legal processes.