Title Deed Search In Thailand
Since buying any kind of property in a foreign land can involve various types of complications, as a foreigner you should always go for a title search. Purchase of a property involves a huge amount of money, so it’s advisable that you, the buyer, must be sure of what you are buying, and from whom you are purchasing it.
Why is Title Search a Must
- A title search is done to determine whether the person selling the property to you is the actual owner of the property and has the right to sell it to you.
- It also will determine if there are any registered encumbrances on the property such as a loan, lien or a mortgage.
- A title search traces title to the land back to the original property holder.
- In Thailand all land originally belonged to the king.
- Thailand started issuing deeds to private real estate when the Department of Land was established in 1901.
- A wide variety of official documents are used to show land ownership.
- Some kinds of land ownership do not permit for the sale or lease of the land.
Different Types Of Thai Land Title Deeds
The Por Tor Bor 5, Bai Jong (NS-2), and SorKor 1 (SK-1)
This is generally used to establish a claim to land. Land ownership which is verified only by one of these documents and cannot be leased or sold. But as the claim matures, the Land Department can eventually grant a real title to land based on these claim certificates.
Nor Sor Sam (NS-3), Nor Sor Sam Gor (NS-3K), and Chanote (NS-4)
These are a higher class of documents used for land claims that have been ‘partially or fully documented’ by the Land title office. Title documents which represent these parcels can be mortgaged, leased, and sold. The deed with the greatest credibility is the Chanote.
The Or Chor 2, or The Condominium Title
Unlike land titles, shows ownership of a condo unit, and not a parcel of land. The land on which the condo development is built on, has a separate title of its own. Condominium titles are originally issued in the name of the property developer.
The Condominium Title establishes condominium ownership. It lists the location and deed number of the plot of land the condominium is built on. The title also incorporates a sketch of the condo unit, its dimensions and area, and other identifying information like the unit name, number, floor, and building.
It also has a list of the ownership ratio of common property.Tags :