Thailand related terms (legal and practical).
A unit designed for use as a dwelling in a multi unit building occupied by more than one household. When registered as a condominium with the Thailand land department offering individual private ownership of the units and joint ownership of the common parts of the property, without registion as a condominium the building usually remains owned by the developer offering rent of the units to different tenants.
A government assessed property value for a specific real property in Thailand based on a calculation method set by the Land Department and the Treasury Department and is adjusted every 4 years based on market conditions. Is among others used to determine the (minimum) amount of tax that must be paid.
A juristic entity, the formal structure, created by a group of people who have joined together for a particular purpose and conducting an activity other than that of sharing profits or incomes earned (section 78 Thailand civil and commercial code).