Whether you’re buying property for the first time or you are a seasoned investor, you need to do a Property Title Search in Thailand before purchasing any real estate property. This will help you determine if the seller actually owns the property, and if the property is free from encumbrances. It will also help you understand the history of the property.
Title Search Report
A Property Title Search in Thailand will give you information about the seller’s history, the property’s ownership, the amount of time it has been in possession of the seller, and whether there are any outstanding debts or mortgages on the property. The search will also help you determine if the seller has any legal capacity to sell the property.
The property title deed is a legal document that outlines the details of the property. It will contain the name of the unit in the building, the location of the unit, the dimensions of the unit, and the deed number assigned to the unit. This document will also list the ratio of ownership of the common property in the building, which is the exterior walls and the floor area.
Different Types of Title Deeds
There are several types of land titles in Thailand. Some of these are condominium titles, which list the name of the unit and the dimensions of the unit. These titles are the easiest type of real estate to acquire in Thailand. However, there are also other types of land titles that can be obtained, such as Nor Sor 3 and Nor Sor Kor 1.
If you’re buying property in Thailand, you should know which type of land title deed you’re dealing with. This will help you determine your financing options and avoid any pitfalls. You should also hire a lawyer to assist you in buying and selling property in Thailand. This will help you understand the property’s history and protect you from title deed fraud.
The Land Department issues seven different types of documents. These are Nor Sor 3 and Nor Sor Kor 1, as well as Nor Sor 3 Gor and Nor Sor Kor 5. These documents represent different levels of claims for lands in Thailand. Some of these documents are not sold, while others can be sold.
There are also condominium titles that indicate the ratio of ownership of the common property in a building. This allows you to lease the land or build structures on it. These types of property titles are only available to Thai citizens and not to foreigners. Purchasing property in Thailand is a huge investment, and you should be sure that you have a clear title deed. You should also understand how to get a claim certificate for a property.
Some people assume that they are fully owners of a property. This is a common misconception in Thailand. If you’re unsure of your rights or the status of the property you’re purchasing, you should seek the advice of a property lawyer. They will help you avoid common mistakes and protect your rights during last-minute disputes.