Need to Re-Think your Lease? - Supreme Court invalidated 'automatic' 30yr renewals

[dinga]

The following is courtesy of well known and credentialed lawyer Sebastien H. Brousseau • 1st • 1stFounder and CEO | Legal Services ProviderFounder and CEO | Legal Services Provider1d • 1 day ago

 

In the recent Supreme Court Case No. 4655/2566, the court invalidated ‘automatic’ 30-year lease renewals, emphasizing that any pre-agreed automatic renewal of a lease beyond the statutory 30-year limit is unenforceable under Thai law.

Understanding the implications of automatic renewal of a lease is crucial for lessors and lessees alike.

 

Full article at this link:

https://thailawonline.com/automatic-renewal-of-a-lease-in-thailand/

[MalcolmB]

Not sure why anyone would lease when you can buy.

Basically anyone who took out a lease 20-30 years ago now have done their money. 
And there are plenty.

[NickyLouie]

1 minute ago, MalcolmB said:

Not sure why anyone would lease when you can buy.

 

 

What u bought ?

[JamesPhuket10]

3 minutes ago, MalcolmB said:

Not sure why anyone would lease when you can buy.

Basically anyone who took out a lease 20-30 years ago now have done their money. 
And there are plenty.

 

That would be a problem for me as I am almost 69 now and if I take a 30 lease out now where will I be able to live when it expires? 

[CallumWK]

16 minutes ago, dinga said:

In the recent Supreme Court Case No. 4655/2566, the court invalidated ‘automatic’ 30-year lease renewals, emphasizing that any pre-agreed automatic renewal of a lease beyond the statutory 30-year limit is unenforceable under Thai law.

 

It has never been enforceable.

[Yellowtail]

The automatic 30yr renewals were not invalidated, they were never valid. 

 

 

[JamesPhuket10]

50 minutes ago, MalcolmB said:

Not sure why anyone would lease when you can buy.

Basically anyone who took out a lease 20-30 years ago now have done their money. 
And there are plenty.

 

I have a leasehold apartment in the UK, it is currently rented out as part of my pension pot and it has 994 years remaining (true, I am not kidding), I am wondering what I will do when it expires.  😃

[MalcolmB]

14 minutes ago, JamesPhuket10 said:

 

I have a leasehold apartment in the UK, it is currently rented out as part of my pension pot and it has 994 years remaining (true, I am not kidding), I am wondering what I will do when it expires.  😃

Sounds like you will be out on the street

[mogandave]

1 hour ago, CallumWK said:

 

It has never been enforceable.

They did not say it had been.