Property Title Transfer in Thailand is a complicated process that involves a lot of paperwork. It’s a good idea to hire a local attorney or team from a developer to help you complete the process. This way, you won’t have to worry about the Land Department rejecting your application because they didn’t get all the necessary information.
Property title deeds are the documents that show you the ownership of a plot of land, as well as registered encumbrances on it such as mortgages or leases. These deeds are a crucial part of real estate transactions in Thailand and need to be accurately and legally presented to government agencies.
There are a few different types of property titles in Thailand, each with their own distinct characteristics and advantages. The most popular is the Chanote title, which provides full owner rights and enables you to subdivide your land as you see fit.
This is the most secure and accurate type of land title in Thailand, as it’s GPS surveyed with unique numbered posts, which are then marked on a national survey grid. It’s also the easiest to transfer, which makes it a favorite among investors.
If you’re unsure about which kind of title to buy, we’ve put together a quick guide that covers all the major property titles in Thailand. The key is to understand the difference between them so you can choose the one that’s right for you.
Condominium Title – Or Cor 1 This is the most common property title in Thailand, and is the easiest to obtain for foreign buyers. It shows the name of the property developer, a sketch that describes the units’ area, dimensions, and ownership ratio, and an ownership ratio for common property. It’s also accompanied by a certificate of ownership, which lists the unit number and location on the property.
A condominium title is not a land title, however, so you will still need to verify the deed’s accuracy and validity before transferring it. It’s essential to do so because a condo’s title deed can be forged, which can lead to serious consequences in the event of a dispute.
PBT5 or Tor Bor Ha
The last type of property title in Thailand is a PBT5, which stands for “Tor Bor Ha” or “Occupancy Rights.” This type of title deed gives you the right to occupy your land and to pay taxes on it, but it does not give you actual ownership of the property. It can be upgraded to a Sor Khor 1 title, but it depends on where the land is located.
Typically, a PBT5 is valid for ten years or less, so you’ll want to purchase it as soon as possible. It’s also a requirement for registering other types of legal rights to your land, such as usufruct and building permits.