When buying property in Thailand, you should consider the different types of titles. In Thailand, the most common type of title is the Chanote. This title gives you full rights over the land, and you can transfer, subdivide, and assign it. It is the most accurate way to measure property in Thailand, and this is the reason why condominiums are often built on Chanote titles. If your property does not yet have a full title, you may be able to get Nor Sor 3 Gor, which will establish the exact boundaries of the land.
In Thailand, the Nor Sor 3 is a type of land title. It signifies the right to possess land but does not provide actual possession. Moreover, it does not contain parcel points and is subject to ground survey and confirmation from neighboring plots. The legal act is valid only if the land is inhabited by a person who has the legal right to it. The Nor Sor 3 also acts as evidence in the event of any dispute.
There are several ways to obtain a Chanote property title in Thailand. Foreigners are not able to own chanotes directly but can be included in the document due to other property rights and leases. Possessory rights refer to rights to use the land but have not been officially substantiated. A chanote property title deed, on the other hand, grants the holder full rights to the land.
The most common land title in Thailand is a freehold, which is also referred to as Chanote. Chanote land is the most common type, as it allows for the most accurate measurements. The land is also not subject to any general restrictions on its use or ability to be subdivided. For this reason, it's preferred to purchase land that has a Chanote title. The following are the steps to complete a Chanote property title transfer in Thailand:
During the property title transfer process in Thailand, you will be asked to obtain a building permit. Getting a building license is not the same as having a building permit, but it will let you build on the land you own. Building without a building permit is against the law and is punishable with fines and jail sentences. A property attorney can check your property before you start building, saving you thousands of dollars in lost production.
A Foreign Exchange Transaction Certificate (FET) is one of the essential documents for registering your property in Thailand. If you're purchasing a property in Thailand from abroad, you need to present this form when you go to the land office to make the transfer of title to your new property. This document is known as a Thor Tor 3 in Thailand and states that you're transferring funds to purchase a condominium unit. It is necessary for foreigners to transfer their funds to a Thai bank account, which will convert them to Thai baht.