Transfer house ownership in Pattaya
Thai laws are not much different from other countries regarding the purchase or transfer of property. For example, the Land Office in Pattaya also operates on the basis of the Land Code Law. Certain property restrictions on certain lands refer only to the land and not to the building or condominium registered under the terms of the Condominium Law. Both the land and the construction on the respective land can be owned by different persons. Foreign nationals who want to buy a house in Thailand, have the opportunity to do so, through a 30-year land lease with the household as personal but separate property.
There are also some exceptions, for example in the case of a foreign citizen who buys real estate here in Thailand, the property of the house can be registered and transferred separately from the land on which it is located.
In case the property right is transferred separately, this procedure must be carried out in accordance with the Commercial Code of Thailand, it must also be written and registered with the branch of the land department or the provincial office.
When we talk about condo transfer in Thailand, we can say is that it is the tax imposed by the Thai government and must be paid to the Land Office in Pattaya or the local area. Different fees are involved when someone wants to do the condo transfer in Thailand.
Among the most obvious, we find the transfer fee, stamp duty, withholding tax and specific business tax only when appropriate.
However, there are certain things that anyone should be aware of when someone wants to transfer condo ownership. The best example can be the method of transfer of the properties over the condominium, between foreigners.
If a foreign citizen owns a condominium in this country, he cannot validly sell this property of the son or, for example, and the only remaining option is to perform a donation act through which he can donate the property of the son.
The only option by which the ownership right can be transferred is to follow the sale procedure.
This company requires the payment of transfer taxes but also the rest of government taxes as well as any other sale-purchase transaction that must, of course, be paid when the actual transfer of ownership is made, to the appropriate Land Office in Pattaya or any other local area
J&E Concierge Pattaya is here for you to help you transfer condo ownership.
Although foreigners do not have the right to own land in Thailand, this does not prevent them and does not prohibit them from owning property built on the land. The most popular option is to conclude two sets of agreements, such as a land lease and of course another sale-purchase agreement for the house. The most important documents required for the transfer house ownership are the sale-purchase agreement and must be in the Thai version but also the building permit. The Commercial Code stipulates that any transaction involves transfer house ownership right over the buildings but also the contracts for the leasing of the immovable property for a period of more than 3 years and must, of course, be registered properly at the Government Land Department.
You must follow the following steps:
1. It is necessary to execute the relevant agreements such as lease agreement, the sale-purchase agreement, and the benefits agreement.
2. The prosecution will be carried out in favor of the authorized person who will act on behalf of the foreigner in order to carry out the registration process.
3. The relevant documents will be submitted, as well:
– a proof of granting property rights over the property in question
– identification documents such as passport and identity card both Thai
– and the house registration card
4. The 30-day notification requirement is respected, but this applies only to transactions involving the purchase of the house or any other structure present on the respective land. The land office will issue 4 copies of the notification of transfer property ownership request
5. When the 30-day notice requirement expires, or after the relevant documents have been submitted, the parties or their representatives will meet at the Land Office to execute the registration of the transfer property ownership
It is important to remember that before you get possession of the respective property, you must pay for it. You have to pay both the seller and the government the appropriate fees. Even if you have all the money for the purchase, you must follow the preliminary steps before you can benefit from transfer house ownership.
Taxes are paid either by the buyer or by the seller, depending on whether they can agree on these taxes. Usually, if the seller has to pay for this transfer, it is possible that you are in the buyer position to pay a little more. If you will be the one to pay the taxes, then the amount is definitely reasonable for you.
Transfer house ownership is a complex process, so it is recommended that before you decide to buy a property in Thailand, make sure you comply with all the requirements and have all the necessary documents but also the agreed and signed contracts and most importantly, make sure that you do not violate the laws and regulations of Thailand