The Land Code of Thailand and the rules established by the Department of Lands control the transfer of property titles in Thailand. To ensure a successful transfer of ownership, it’s crucial to meticulously adhere to the rules and regulations throughout the sometimes complex process.
The general procedures for changing a property’s title in Thailand are as follows:
- Gather all required paperwork: The first step is to compile all required paperwork, such as the original title deed, tax receipts, and any other papers that are pertinent to the property.
- Before transferring the title, it’s important to look for any encumbrances or unpaid obligations associated with the property. A Land Office search can be used to find this.
- Sign the sale agreement: The sale agreement, which describes the terms of the sale and the transfer of ownership, must be signed by the buyer and the seller.
- Pay transfer fees and taxes: Normally, the buyer is in charge of covering the transfer fees and taxes, which can total up to 6.3% of the property’s appraised value.
- Register the transfer: The transfer of ownership can be registered at the Land Office once all the fees and taxes have been paid. The closing of the transfer requires the presence of both the buyer and the seller.
- Obtain the new title deed: Following the registration of the transfer, the buyer will receive a new title deed.
To ensure a seamless and legal transfer of ownership, it is advised to deal with a skilled lawyer or real estate agent. It’s crucial to keep in mind that the process can take several weeks or even months to complete.