When you buy property in Thailand there are a number of issues that you need to be aware of. Firstly there is the property title deeds. Not all title deeds in Thailand are the same. We have listed a number of the deeds which you will find in Thailand. Ensure that your property agreement has been read by a property lawyer in Thailand and that you have done a due diligence report on the property to ensure you are getting what you are paying for.
There are different grades of title deeds in Thailand. The title deed which most foreigners would normally buy is the Chanote title deed. This is the title deed which in the West would be a title deed with full rights to the property and freehold. In Thailand it is the most sought after title deed for this reason. Always allow your attorney to check that your title deed is a Chanote.
The next level of title deeds in Thailand below that of a Chanote is the Nor Sor 3 Gor. This title deed can be upgraded to a Chanote at the land department on application by your attorney. Property on this type of title deed is normally cheaper as there is a cost and a length of time needed for the upgrading to take place. Always speak to a lawyer in Thailand if it is not a Chanote title deed as we have only listed the top 3 title deeds which are normally used.
The final level on what foreigners might buy in terms of title deeds and property in Thailand is the Nor Sor 3. This can up upgraded to a Nor Sor 3 Gor and then upgraded again to a Chanote. As stated before property on this type of title is normally much cheaper due to the legal costs involved with upgrading.
There are a number of other title deeds but these are mainly for Thai nationals but this does get complicated when you might have a Thai wife who wants to buy ‘cheap’ property in Isaan and you are needing to upgrade the title deed. With offices in all the main cities of Thailand from Phuket to Chiang Mai speak to us at Siam Legal about what is the best options for you and your Thai wife when buying property in Thailand.