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Responsible property purchases – do your homework and seek a second opinion

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Responsible property purchases – do your homework and seek a second opinion | The Thaiger

Many times prospective buyers of property in Thailand search online for legal information in regards to their purchase. They soon discover that online legal advice varies depending on the law office, lawyer or advisor providing the information.

In some cases advice is given which recommends that to secure an investment in property a Thai company should be incorporated to hold legal title, or that the investor should secure a 30 year registered leasehold (50 years for commercial property with possible extension).

Other times, an advisor recommends that a superficies or usufruct be registered against the land title in favor of the investor, or to simply secure a registered lifetime right to possess and reside on the land. Some suggest that prospective purchasers gift the purchase money to be used for the investment to their Thai wife or Thai partner – who, as Thais, may lawfully hold title to land in their own names. Still others suggest only purchasing condominium units, which may be lawfully owned and registered into the name of foreign nationals.

From the above, you can see that there are many ways to secure an investment in property in Thailand. Depending on the specific needs and circumstances of the individual buyer, one method or another may be the most suitable for any individual case.

To be sure, there are differences of opinion as to which methods may best serve a specific buyer, and it is in the best interest of every prospective purchaser of land or property in Thailand to receive, prior to their purchase, proper legal advice fully informing them of the advantages and disadvantages of each of the possible methods and vehicles of property ownership.

Factors to consider include whether the purchased property can be passed on through a last will, whether the property rights can be sold or transferred to third parties and under what circumstances may their property rights be renewed or extended.

The experience of the particular law office, lawyer or advisor selected by the buyer will play a crucial role in the quality of their advice. Always select attorneys who have experience defending contracts in courts of law and who are up to date with the ever-changing property laws and regulations of the land office.

Law offices/attorneys who are personally familiar with the land office and its policies and regulations should be consulted, as the interpretation of the laws and regulations by such a land official is valuable – any contracts for property purchase must be registered against a the land title which has to be accepted by the land officer in charge.

The Thaiger always recommends to do your homework before you sign anything, including speaking to a number of lawyers to assess their advice and costs.

The International Law Office Patong Beach wholeheartedly agrees with other advisors that proper legal advice should be sought before entering into any agreements, including reservation agreements, and before any monies are paid.

Further, while it is always important to discuss your individual situation and needs with a skilled and qualified lawyer/advisor, it is also desirable to get a second opinion as the advice you may initially receive may vary depending on the experience and knowledge of your advisor and the particular purchase structure you first chose.

A law office or advisor who can also offer tax advice on the tax liabilities of owning/renting out property or upon its later sale is an advantage to have. If your attorney is not a tax specialist, you may wish to seek additional and independent advice from a tax advisor for added protection.

Responsible property purchases - do your homework and seek a second opinion | News by The Thaiger

This article is written by International Law Office Patong Beach Company. Since 1995, a Phuket based law firm.

EMAIL: [email protected]

PHONE: +66 76 222 1915. (Locally – 076 222 191 5)

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Phuket

Man found dead in pickup with charcoal burner in Rassada, Phuket

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Man found dead in pickup with charcoal burner in Rassada, Phuket | The Thaiger

A man has been found dead inside a pickup truck with a coal burner also inside the vehicle in Rassada this morning. Police were notified of the situation in Soi Muen Sri in Rassada.

Police and emergency responders arrived to find the man’s body in the parked pickup truck. The man was identified as 28 year old Weerawat Pakdeewirot from Phuket.

A coal burner was also found inside the vehicle. A suicide note addressed to his girlfriend was also found. The letter stated that he was facing financial problems. His body was taken to Vachira Phuket Hospital.

Police says that Mr Weerawat is a CCTV camera and internet contractor. His home was only 50 metres from the scene. Yesterday locals noticed his pickup parked at the scene. Today they saw the pickup in the same location and went to check out the situation.

Police are continuing their investigation.

If you or anyone you know is in emotional distress, please contact the Samaritans of Thailand 24-hour hotline: 02 713 6791 (English), 02 713 6793 (Thai) or the Thai Mental Health Hotline at 1323 (Thai).

Man found dead in pickup with charcoal burner in Rassada, Phuket | News by The Thaiger Man found dead in pickup with charcoal burner in Rassada, Phuket | News by The Thaiger Man found dead in pickup with charcoal burner in Rassada, Phuket | News by The Thaiger Man found dead in pickup with charcoal burner in Rassada, Phuket | News by The Thaiger Man found dead in pickup with charcoal burner in Rassada, Phuket | News by The Thaiger

 

 

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Phuket

Injured Brahminy Kite (bird) rescued in Karon

The Thaiger

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Injured Brahminy Kite (bird) rescued in Karon | The Thaiger

An injured Brahminy Kite has been rescued by locals in Karon, Phuket.

The mature Brahminy Kite was found in Karon this week. Locals who found the bird contacted the head of Khao Phra Thaeo Non-Hunting Area, Pongchart Chueahom.

The Brahminy Kite had a wound similar to a bite wound under its wing. It was unable tp fly. It is now being treated at a pet hospital in Thalang until it is ready to be set free.

The Brahminy Kite is a protected species in Thailand.

The brahminy kite (Haliastur indus), also known as the red-backed sea-eagle in Australia, is a medium-sized bird of prey in the family Accipitridae, which also includes many other diurnal raptors, such as eagles, buzzards, and harriers. They are found in the Indian subcontinent, Southeast Asia, and Australia. They are found mainly on the coast and in inland wetlands, where they feed on dead fish and other prey. Adults have a reddish-brown body plumage contrasting with their white head and breast which make them easy to distinguish from other birds of prey – Wikipedia

Injured Brahminy Kite (bird) rescued in Karon | News by The Thaiger Injured Brahminy Kite (bird) rescued in Karon | News by The Thaiger

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Phuket

Army commander visits Phuket residents to discuss water shortage

The Thaiger

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Army commander visits Phuket residents to discuss water shortage | The Thaiger

Lt Gen Pornsak Poonsawat, the Commander of the Fourth Army Region (Southern) in Nakhon Si Thammarat, came to Phuket to visit residents over water shortage issues in Rassada.

Lt Gen Pornsak says “we were contacted from the Phuket Governor that Phuket is facing serious water shortages. We have come here with water trucks to help residents to join with other government agencies in Phuket.

There are now 23 water trucks which are delivering free water to residents around Phuket. However we need cooperation from every one to save water.”

Army commander visits Phuket residents to discuss water shortage | News by The Thaiger Army commander visits Phuket residents to discuss water shortage | News by The Thaiger Army commander visits Phuket residents to discuss water shortage | News by The Thaiger Army commander visits Phuket residents to discuss water shortage | News by The Thaiger Army commander visits Phuket residents to discuss water shortage | News by The Thaiger Army commander visits Phuket residents to discuss water shortage | News by The Thaiger

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