Property Title Transfer is the process of transferring the ownership of a piece of land from one party to another. The name of the owner is registered at the Land Office and a new title deed is issued for the property.
In Thailand, there are several ways to acquire a piece of land and a number of different titles that can be issued to cover the land. These titles can be issued by the Land Department or by other government departments for specific purposes.
The most common type of title is the Nor Sor Sam or Nor Sor Sam Kor title deed, which can be sold or leased. However, these titles tend to be less accurately surveyed than other types of title deeds and it is important to be aware of this fact when buying or selling property in Thailand.
Alternatively, if the land is owned by a company it can be leased to an individual who may then own the land in his or her own name. This is a popular option for foreigners who want to buy property in Thailand but cannot afford to pay the high prices that Thai property can sell for.
A Chanote is a land title deed that states the exact size of the plot. The area of the land is usually stated in Rai or for smaller plots in Wah.
There are a number of problems that can arise when purchasing property in Thailand, and one of these is that the land deed might be manipulated or forged. This means that the land might be larger or smaller than what is actually there.
Another common issue is that the land deed might be incorrectly spelled or have other errors in it. This can lead to potential future legal complications.
It is very important to check the land deed before a real estate transaction is made, as there are many cases where people have thought that they have certain plots of land and in fact found out that they do not own that particular plot of land at all.
This can be very confusing if you are not familiar with the laws in Thailand. It is therefore very important to get the help of a professional lawyer before you make any purchase or sale.
The property lawyer in Thailand will conduct a comprehensive due diligence on the property and prepare the necessary paperwork for the transfer of ownership. The lawyer will also assist you in registering the property at the Land Office on your behalf.
Once all the necessary paperwork is complete, you can then present yourself at the Land Office with your new title deed in hand and your receipt for paying all of the fees. The lawyer will then record your name as the new owner on the property deed.
In addition, the property lawyer in Thailand will ensure that any resale or rental of the property is done according to Thai law and regulations. This will protect your investment and prevent any problems down the line if you plan to sell the property.