What happens with the lease when the owner dies?

I own a property in Thailand under a leasehold, one thing I cannot find online is what happens to leasehold when the owner dies?
Asked 7 years ago
Markus
bangkoklawonline
Transfer of ownership does not terminate your rent/ lease (section 569 civil code), but the problem with long term leasehold contracts and transfer of ownership of the property hired in Thailand is that there is often a whole contract structure between the owner and lessee built around the 30 year lease agreement which is basically only binding between the parties to the lease agreement, you couild think of longer lease terms through lease renewal options. The lease will not be terminated when the owner of the property sells the property, goes bankrupt or dies but you will lose some or more contract options in the lease that are considered personal to the parties of the agreement, like the renewal terms. Basically, upon death of the owner of the leased property, your rights to have the use and benefit of the property hired will remain in full force and effect, but you will likely lose some or more options included in the 30 year lease agreement that are under Thai law considered personal to the parties.
Answered 7 years ago
Nadia

Please register/login to answer this question.  Click here to login