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Own, Lease & Mortgage Option
The situation with respect to land, and thus owning a house
in Thailand is significantly more complicated. The starting point is that,
under Thai law, a foreigner may not own a freehold title to land in his or her
own name. However, a foreigner may own a leasehold title to land. Thai law
dictates that the term of a lease may be up to 30 years in length. Moreover, it
is legally permissible to enter into an agreement with the owner of the freehold
land to renew such a thirty year lease upon two occasions, effectively providing
a total extended term of 90 years. That said, when doing so great care must be
exercised so as to avoid potential issues with enforcing the extended terms. It
should be noted that any lease of more than 3 years in length must be registered
at the Land Office.
It should also be borne in mind that, while a foreigner
cannot own land upon which a house is built, he or she can own the actual
house. Thus, as a foreigner, one option is to lease land for up to 90 years and
own the house that you build upon it.
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