Selling property in Phuket

Guarantees to owners of real estate.

Each owner of the property, especially if it is purchased abroad, the necessary guarantees that it will remain in its ownership, and shall not depart the state or to third parties. This is especially true if we are talking about real estate on Phuket and in other provinces of Thailand.

In the case of the apartments, everything is quite simple and transparent. You buy a house in the condominium from foreign quota (49%) and become the full owner of the apartment. You will be issued and the document of ownership, and certificate of the apartment.

The things are more complicated with houses and villas. Because the law to buy land a foreigner can not. That is why many resort to this method of buying propertyas "payment through the company." However, there is a snag - a foreign citizen cannot own more than 49% of the shares of the company. What in this case it guarantees that the remaining 51% of the shareholders will not assign the acquired property?

To issue such a guarantee is necessary at the stage of registration of the company.

Mandatory in the statutes shall stipulate the following:

• A signed waiver Thai shareholders from property claims to the property of the company;
• The opportunity to lay acquired the Villa "itself" - then how to take possession in case of activation the mortgage is a separate matter, the main fact of the guarantees at the initial stage of the transaction;
• The presence of a preferred share, which establishes the priority voting rights of foreign shareholders.
• These boomAGI will protect you from multi-stage machinations of unscrupulous shareholders. Be stored they need you or your attorney.

It should be noted that this form of acquisition of ownership as long term rental. Most often it is issued for a period of 30 years with the right double extension(+30 +30). In this case it is important to mention the term "Usufruct". It means a lifetime of use all that is on earth. The inclusion of this item will protect you from problems in case the one who gave you the lease, will decide your property to sell. To realize he can't do it, because this would conflict with decorated the right of use.

Selling property in Phuket foreigners is widespread. There are well-established schemes allowing to purchase real estate bypass the legal restrictions. However, it is important to deal carefully and complete all the necessary guarantees.