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Nakhon Ratchasima, Thailand Attorneys in related practice areas.
Browse our 5 legal questions about Real Estate in Thailand and the lawyer answers, or ask your own questions for free.
Nakhon Ratchasima, commonly known as Korat, is one of the largest cities in Thailand. It's bustling real estate market makes it an eventful place for buying and selling assets like land, houses, and commercial buildings. The governing real estate law while dealing with these assets in Korat is complex and is regulated by various national laws such as the Land Code Act, Condominium Act, and the Civil and Commercial Code. These laws provide a framework for issues related to ownership, leases, servitudes, right of habitation, superficies, and mortgage.
Several situations can require legal assistance in real estate transactions. If you're planning to buy or sell a property, a lawyer can help ensure proper adherence to processes and that the contract terms are fair and legal. Should you be interested in starting a real estate project, a lawyer can provide guidance on zoning laws and land use regulations. Dispute resolutions regarding property boundaries, deed issues, and landlord-tenant disagreements are other typical scenarios where legal advice may be necessary. A lawyer can also address complexities related to foreign ownership of land and property in Thailand.
In Nakhon Ratchasima, the main law governing real estate transactions is the Land Code Act. It stipulates that foreigners cannot own land in their name, although there are exceptions if they invest significantly in the country, or via corporate structure or leasehood. The Condominium Act permits foreigners to own condo units outright, given that at least 51% of the building's floor area is Thai owned. Lease agreements, usufruct, superficies, and habitation rights are also recognized and regulated by the Civil and Commercial Code.
1. Can a foreigner purchase land in Nakhon Ratchasima?
Foreigners generally cannot own land in Thailand, but they can own buildings on the land or hold a lease agreement for up to 30 years with renewal options.
2. What is the main legislation governing real estate?
The Land Code Act, Condominium Act, and the Civil and Commercial Code are the primary regulations governing real estate in Thailand.
3. How can a lawyer assist me in real estate transactions?
A lawyer guides you through the legal complexities, conducts title searches, ensures correct registration procedures, and assists in preparing and reviewing contracts.
4. What is a superficies?
This is a right granted to a person to own structures upon or under another's land for a certain period, which is not exceeding 30 years and could be renewed.
5. Can a foreigner own a condominium in Nakhon Ratchasima?
Yes, a foreigner can own a condominium unit outright, provided at least 51% of the building is owned by Thais.
Government authorities like the Land Department, local district offices, and the Thailand Board of Investment can provide additional resources and information. There are also credible online platforms and local libraries distributing Thai real estate law resources.
If you require legal assistance regarding Real Estate in Nakhon Ratchasima, initiate by researching and seeking out a reputable local attorney experienced in real estate law. Remember to gather all relevant documents regarding your property or transaction and prepare a list of your queries. A good lawyer will guide you through the complete legal process, protecting your rights and interests.
