Since Thailand’s legal system is based on civil law, as opposed to common law principles, ownership and property rights are governed by a framework of statutes and regulations. The Civil and Commercial Code of Thailand, together with other laws and rules, essentially governs property law in Thailand.
Although there are limitations and procedures, foreigners are permitted to own property in Thailand. In general, foreigners are permitted to acquire condominium units and up to 49% of a condominium project’s total area. Under specific conditions, such as when the land is used for particular kinds of companies or when the foreigner invests a specific sum of money in Thailand, foreigners are also permitted to own land in that country.
Thailand has a number of laws and regulations governing the ownership of land, including zoning and land use laws, environmental laws, and prohibitions on foreign ownership. Anyone thinking about buying property in Thailand should seek legal advice from a licensed attorney to make sure they are adhering to all relevant laws and rules.
Thailand has laws that cover both property ownership and real estate transactions, such as contracts, mortgages, and leases. These laws specify the prerequisites for binding contracts that can be enforced, as well as the rights and duties of the parties to a transaction.
A skilled legal expert should be consulted before engaging in any real estate transaction in Thailand because the country’s property law is generally complicated and heavily regulated.