Koh Tao Buy Real Estate

[Ludovica]

Hello. 

Im on  koh  tao, looking  to  buy  an  apartment  in  a  condominium  of 3 floor. The  apartment  already  exist. The actual owner is a farango. What  i  understood  on  koh  tao  the  normal  documentation used  in other  parts  of  thailand, here  doesn't  exist.  So i asked a bkk lawyer to help me , cause o dont understand much about thai rules and i want to be sure to respect the laws that the thai government apply for the purchase of an apartment.  So he ask me to see those docume ts:1-copy of TITLE DEED (property title);  2-COPY OF FREE HOLD DOCUMENTS (authorization of foreigner owner) 3-document showing the absent of DEBT OR BONDS.

 

The  agency  answered  that  none  of  tao  properties  has  it  and  the  just  can  provide  me  the "pho  boho  tho 5.''

 

Anybody  can  make  me  clear  the  situation? How  is  the  iter  to  buy  an  apartment  on  koh  tao? Is  this  document  by  himself  valid? 

WHAT  ARE  ALL  THE  LEGAL  STEPS  TO  DO  THE  PROPERTY  PASSAGE? 

[Peterw42]

Its sounds like there is no property to sell and you cant own it. Its certainly not a Condominium that a foreigner can own.

I think you are quoting Por Bor Tor 5 which is a title to do with occupying land, not ownership.

 

Por Bor Tor 5 (Ha) (P.B.T. 5), is an evidence showing that the occupier of a plot of land has been issued a tax number and has paid tax for using and the benefit of the land. This evidence gives no official rights at all, but was formerly used to establish that the holder was occupying a plot of land and could apply for a Sor Kor 1 and later for a land title deed.

 

So its not the owners to sell. Its probably an illegally structure on land that cant be owned and they are looking for a gullible westerner to part with some money.

 

RUN

 

I can do you a deal on a "tower" in Paris or a big "statue" on its own island in New York.

Edited March 11, 2018 by Peterw42

[Ludovica]

difficult to obtain the sor kor and title deed?

so how can they propose to buy it if (i guess) they cannot register the new owners?...any owner there than is nor a real owner?? 

 

[janclaes47]

8 minutes ago, Ludovica said:

difficult to obtain the sor kor and title deed?

so how can they propose to buy it if (i guess) they cannot register the new owners?...any owner there than is nor a real owner?? 

 

For sure no foreigner is the owner, not on Koh Tao or anywhere else in Thailand.

 

Secondly, there are no condominiums of 3 floors, as they are called apartments and foreign ownership is not possible in apartments.

 

Like Peter said, RUN because someone is trying to fool you.

[Ludovica]

sorry i mean an apartment in a building of 3 floor. scaring then how so many people bought those apartments!!

[Peterw42]

53 minutes ago, Ludovica said:

sorry i mean an apartment in a building of 3 floor. scaring then how so many people bought those apartments!!

I think you will find nobody has bought anything (other than maybe an illegal long term lease dressed up as property ownership).

The term condominium applies to individual ownership of a space within a large building, legal for Thais, foreigners etc.

The term apartment usually applies to a building were one person owns a whole building (not individual ownership) set-up as separate rooms/apartments. No individual title, ownership etc, even for Thais. The owner of the whole building can rent out individual rooms. But cannot sell them as individual title (a bit like trying to sell one room of a house).

 

There are all sorts of land titles in Thailand that have to do with possession, usage, occupancy etc, giving farmers/occupants access/rights to land that they have been farming/occupying for the last 100 years, they can keep farming for the next 100 years and pass on to the kids for farming. The land isnt owned and cannot be sold, developed, rented out etc. There is also normal full ownership land titles for "Thais". 

 

Unless a Condominium has the 3 things your lawyer advised,

1-copy of TITLE DEED (property title);  2-COPY OF FREE HOLD DOCUMENTS (authorization of foreigner owner) 3-document showing the absent of DEBT OR BONDS.

its not a condominium.

Its someone trying to sell you the statue of liberty, that they dont own.

Edited March 11, 2018 by Peterw42

[KittenKong]

so how can they propose to buy it if (i guess) they cannot register the new owners?

As long as they get the money they simply dont care.

You should not assume that anyone involved in Thai real estate is telling the truth as they hardly ever do. On islands you can safely say that they never do.

[MikeyIdea]

On ‎3‎/‎11‎/‎2018 at 10:51 AM, Peterw42 said:

Its someone trying to sell you the statue of liberty, that they dont own.

Yes !

I was offered to "buy" land that could not be owned already back in 1992, it's still the same. Peterw42 said it best

 

It is impossible for both westerners and Thai's to own property on Koh Tao. It's right to occupy land only. All title deed upgrades has as far as I have heard been stopped since forever and will on islands be stopped for another forever. That said, could still be worth it to "buy" "the right" to stay in an apartment or on a plot of land - if one accept that it's a risk because there is legally "no right" and no "buy" = can lose everything any day and nothing to be done, same for resorts by the way