• Condo Sale and Purchase contract Payment and Terms

    Sale Agreement
    apartment payment terms

    for a resale or off-plan condo in Thailand

    In case of a resale condo unit/ apartment in Thailand the purchase price for the unit could be paid by cashier's check to the seller at the time of transfer of ownership of the unit at the land office (standard practice). In this case the buyer of the condo must obtain a cashier's cheque and the foreign exchange documents (FET-form) from his bank inside Thailand required for registration of foreign ownership under Thai condominium laws.

  • Condominium Law Thai Condo Act

    Apartment laws
    Thailand Condominium Act


    TRANSLATION of the Thailand Condominium Act, including recent 2008 amendments

    Thailand Condominium Act jump to:

    Translation for reference purposes

    CONDOMINIUM ACT

    B.E. 2522 (1979) as amended 2008

    govrnment logo garuda

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    BHUMIBOL ADULYADEJ REX.
    Enacted on the 21st day of April 2522
    Being the 34th year of Present Reign

    --------------

    His Majesty King Bhumibol Adulyadej has been graciously pleased to proclaim that:

    Whereas it is deemed expedient to have a law on Condominiums:

  • Foreign Ownership and Condominium Laws

    Condo in Thailand
    foreign ownership

    under the Thailand condominium actcondo-ownership-deed

    In the nineties (the decade that began in 1990) foreigners could own 40% of the aggregate unit space in an apartment building registered under the Thailand Condominium Act (i.e. in case of 100 equal units 40 could be owned freehold by foreigners). Between April 1999 and April 2004 there was an exception created (condominium act no. 3 1999) which under certain rules and conditions and in specified areas allowed foreigners to own 100% of the aggregate unit space in a condo project. Currently foreigners are allowed to own up to 49% of the aggregate unit space in a condominium.

  • Holiday Apartments and Licensed Condominiums

    sample ownership condo deed

    Apartment buildings
    and condominium license

    Only multi unit apartment buildings licensed under the condominium act B.E. 2522 and registered with the land department as 'condominium' offer freehold ownership of the apartment units and government issued ownership unit title deeds (image on the right). Private apartment projects (not having obtained a condominium license) do not offer ownership nor individual unit title deeds but only possession of the units under private (lease) contract structures.

  • Maintenance fee

    generally in relation to section 18 of the Thailand condominium act referring to contributions to the juristic person for repair and operations fees paid by the unit owners for the upkeep and running of the building and common areas of the condominium

  • Succcession and inheritance of foreign condominium ownership

    Condominium Unit Ownership
    and inheritance of foreign ownership

    The main legal requirements and limitation of foreign ownership of condo units in the Kingdom of Siam can be found in section 19 of the Thailand condominium act, that is, (1) not more than 49% of the total floor area of all units in a condo licensed apartment building combined can be foreign owned (51% must be Thai owned), and (2) every foreigner buying a condo in Thailand must qualify for foreign ownership under section 19 paragraph 1 of the condo act.

    Foreigners who qualify for foreign ownership of an apartment unit under section 19 obtain a personal non-transferable right of foreign ownership of the unit. Ownership of the unit is not freely transferable between foreigners and restricted by condominium laws. Also foreigners who inherit a condominium unit by succession must again personally qualify for foreign ownership under section 19 of the condominium act or they must dispose of the unit within one year of the date of acquisition.

  • Thailand Condominium Buying Foreign Ownership

    Foreign Ownership
    buying an apartment unit

    Thai condo laws define a 'condominium' in Thailand as a building that can be separated into units for individual ownership and includes common properties (land on which the building sits, hallways, elevators, etc.). Only condominium buildings licensed under the condo act and registered with the land department as 'condominium' offer individual ownership of the units and joint ownership of the common areas and government issued ownership unit title deeds. Private 'holiday' apartment projects, not having obtained a condo license, do not offer ownership of the unit spaces nor joint ownership in the common areas, but only offer possession under private contract structures.