Section 702 of the Civil and Commercial Code defines a mortgage as follows: “A mortgage is a contract whereby a person, called the mortgagor, assigns a thing to another person, called the mortgagee (creditor), as security for the performance of an obligation, without delivering the thing to the mortgagee (creditor).”…
Articles by Thailand Property Lawyers
I have come across many Leases that contain “Restrictive Covenants” so the question is what is a restrictive covenant? Restrictive covenants are deed restrictions that apply to a group of homes or lots in a specific development or ‘subdivision.’ They are normally drafted and put in place by the original…
It is almost common knowledge among foreign property buyers in Thailand that we need a Foreign Exchange Transaction form in order to buy a condominium in Thailand. It is an important document required so as to allow foreigners to purchase a freehold condominium unit here. This is essentially the only…
Generally, lease agreements remain valid and binding regardless of the transfer of ownership of the leased property. This is of course on the presumption that (i) a written lease agreement was executed between the lessee and the lessor — owner of the property at that time — and (ii) it…
Question: What is your opinion on the use of an offshore company as a minority shareholder in a Thai company holding land? Answer: The use of an offshore company as a minority shareholder has been a practice in Thailand and a means to minimize taxes and/or maintain confidentiality by some…