In Thailand, property laws are moderately sound, ensuring that the rightful owners of properties can rest easy. But there are a few unscrupulous people who take advantage of mistakes made by others to make profit. It’s essential to avoid such pitfalls and hire a reputable lawyer or agent to buy property. Read on to learn more about hiring a Thai property lawyer for title search. You’ll be glad you did.
Translate a title deed into English
The title deed of your apartment unit is made in duplicate. It is kept at the land office, which is where the competent official will be. You may need this document for several purposes. First, you can use it to see if there are any registered mortgages or incumbrances on the property. Second, it can help you in future plans. Third, a translated title dee will be helpful in avoiding any future legal complications.
A Thai property lawyer can assist you in transferring the title of your property. They should ensure that all fees are paid at the Land Office. Additionally, they should ensure that all taxes are paid. They can also act as your representative at the Land Office if you cannot be present. Before hiring a Thai property lawyer, you should ask them to translate the title dee for you.
Look up an outstanding tax
The Thai government has recently introduced new maximum tax rates for real estate. These rates apply to buildings used for residential purposes, 2% to commercial uses, and 5% to unoccupied or unused property. These new tax rates are not applicable to foreigners who purchase condominium units, which means they won’t be treated any differently than Thais. If you’re wondering if you’ll have to pay a higher tax rate when purchasing condominium units, it’s best to get a professional to do the search.
While Thailand’s property laws are relatively sound, some shady people take advantage of this, so it’s best to go through the proper channels. Make sure to hire a reputable property lawyer or agent to ensure you’re buying property legally. Even if it is a mistake, it’s best to hire a lawyer or agent with good reputation and experience. Getting a Thai property lawyer to look up an outstanding tax can be a difficult process, but the benefits are worth it.
Review a contract
Getting a Thai property lawyer to review your contract for title search is crucial, as it can prevent any potential legal issues. When purchasing a property in Thailand, a seller will likely draw up the sale contract, but you should still ask a lawyer to check it for you. It’s important to ensure that the vendor is legal to sell the property, and that there are no liens, lease arrangements, or other financial obligations on the property.
The sale and purchase agreement (SPA) is a legal document that is binding on both parties and defines the details of the sale. It may be in English or Thai, and it is vital that you review it carefully. You should also get the contract translated if necessary. Getting a Thai property lawyer to review the contract will ensure that you understand all of the terms and conditions of the sale.
Do a title search
Having a title search done on the property you’re interested in is one of the most important steps in buying a Thai property. This comprehensive examination of the property’s history will let you know if the seller is the real owner. Besides revealing whether the seller is a legal owner of the property, the title search will also reveal liens and encumbrances on the property. The purpose of this search is to protect you from unnecessary complications after purchase.
A title search can reveal encumbrances on real estate, including mortgages, servitudes, loans, and other ownership restrictions. It can also reveal any access problems. No matter what type of real estate you are buying, it is crucial to have a title search. It is important to get a copy of the title search report in both English and Thai, so that you can check whether the property is legal or not.