• Superficies

    Jan 19, 2010
    realestate
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    One way of owning a structure in Thailand without actually having ownership of the land where it is actually being built or was built upon is through Superficies. Superficies is a Latin term referring to any object placed and attached over land. This structure to possess such property is available to both Thai and foreign nationals.

    Upon acquiring the right of superficies, this must be registered at the Land Department. Also, the person granted with such right has the duty to keep the land on which the structure is built upon to be intact and in good condition. Furthermore, this right may be granted for a specific period like for thirty years or is attached to the life either of the land owner or the superficiary depending on the agreement reached by both parties.

    Yet, when the superficies is registered and in effect, the duty to pay the taxes would be transferred to the person who gained the right of superficies or the superficiary covering the period in which such right should last.

    Another distinction of the superficies is its ability to be still binding in the event that the ownership of the land is transferred to another and further, its ability to be transferred through inheritance. And for more security on the part of the superficiary, the right of superficies may be used in tandem with a lease agreement with the land owner.

    For further protection of the superficiary, he must proceed with his plan to secure a property through superficies after consultation with a reputable property lawyer in Thailand. A lawyer would make sure that the property his client is eyeing to secure has the superior title deed required to have such land secured through a superficies and also to make sure that the agreement to be executed protects and forwards the rights and interests of the foreign individual.