Glossary · The buying process
Transfer of ownership
Also called: Transfer, Land Office registration
In short
The registration of the sale at the Land Office, which is the moment the buyer becomes the owner. The balance, the fees and the taxes are paid the same day.
What it means
In Thailand a sale of property takes effect when it is registered at the Land Office for the district where the property lies. Signing a contract and paying the price do not make you the owner; the registration does.
What happens on the day
- Buyer and seller, or their representatives under a power of attorney, attend the Land Office.
- The officer checks the documents. For a foreign buyer of a condominium unit these include the bank documents for the money brought in and the juristic person's letters on the foreign quota and on unpaid fees.
- The transfer fee and the taxes are paid.
- The officer enters the new owner on the title deed and hands it over, normally the same day.
What to prepare
Agree beforehand who pays which cost, have the balance ready in the form the developer asks for, and bring your passport. If you cannot attend, a lawyer can act for you with a power of attorney on the Land Office's own form.