2 Family Home

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2 Family Home

Postby oil » Wed Jun 11, 2014 10:53 am

Heya,

so farrangs can legally buy condos and own them if more then 50% belongs to thai parties. Hence i was wondering, if i built a 2 Family home, with seperate, water counter, electricity counter, seperate entry and such, it counts in most of the european country as true 2 family home, which can be sold sepereatly each condo, should be here the same i guess, so should be possible that a farrang can legally purchase the smaller part, right?
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Re: 2 Family Home

Postby Makmak456 » Wed Jun 11, 2014 11:04 am

No, you can own the house, not the land it sits on.
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Re: 2 Family Home

Postby schuimpge » Wed Jun 11, 2014 11:57 am

Makmak456 wrote:No, you can own the house, not the land it sits on.


Correct, if your family or wife owns the land, you can own the buildings on it. No problem at all, but you'd better be sure to cover the risks involved...

And if I understand correctly, for Condo's, foreigners can only buy apartments from a certain level up-wards, say 4th or 5th story.
But please correct me if that is wrong.

cheers,
Luc
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Re: 2 Family Home

Postby oil » Wed Jun 11, 2014 1:03 pm

schuimpge wrote:..., foreigners can only buy apartments from a certain level up-wards, say 4th or 5th story.
But please correct me if that is wrong.

cheers,
Luc
could be heard some rumors about this too
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Re: 2 Family Home

Postby Roger Ramjet » Wed Jun 11, 2014 2:05 pm

schuimpge wrote:And if I understand correctly, for Condo's, foreigners can only buy apartments from a certain level up-wards, say 4th or 5th story.
But please correct me if that is wrong.

Frarangs can only occupy 40% of the condo, the rest must be Thai.... but all that may be about to change.
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Re: 2 Family Home

Postby Shastadad » Thu Jun 12, 2014 5:55 pm

oil wrote:Heya,

so farrangs can legally buy condos and own them if more then 50% belongs to thai parties. Hence i was wondering, if i built a 2 Family home, with seperate, water counter, electricity counter, seperate entry and such, it counts in most of the european country as true 2 family home, which can be sold sepereatly each condo, should be here the same i guess, so should be possible that a farrang can legally purchase the smaller part, right?


NO, just because you want to call your two family house a condo, that does not make it a condo. The precise definition of a condo is covered in the Condo Law ( CONDOMINIUM ACT (B.E. 2522) which is a statutory provision of the property laws of Thailand that covers all aspects of condos:
source:http://www.samuiforsale.com/law-texts/new-thailand-condominium-act-2008.html#1

A condominium in Thailand can be a flat or horizontal building structure or vertical high rise building structure. Horizontal condos or a 'Villa Condominium' are as such not defined in the Condominium Act. Technically a condominium can be a group of attached or low rise buildings. A villa condominium under the Condominium Act is based on a decision by the government's legislative advisory but must obtain a condominium license. The legality of this type of (horizontal) condominiums under the Condominium Act is controversial and licensing is usually refused.

source:http://www.samuiforsale.com/condominium/legal-definition-condominium-in-thailand.html

First of all the law specifically states that 51% of the available "living" space must be owned by Thais. The remaining 49% may be owned by foreigners (commonly known as the farang quota)

Secondly , there is no mention of the supposed requirement of 4th floor and above for foreigners in the current Condominium Act as amended in 1980 but that does not mean that it was not in the law prior to 1980. I personally think that it is a rumor used by salesman to get rid of undesirable units
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