New Development Issues

[tangoll]

I have some questions regarding the formation of the legal entity being the new owners of a newly constructed condominium. I purchased a unit in a new project called Baan Klang Krung Siam Patumwan in Ratchathewi area. New owners are taking over their units, each on a different date. When we transfer title, we pay one year's management fee in advance, and presumably the management fee begins the day of each unit's title being transferred to the new owner. My questions are:

1. When does the legal entity (juristic person?) being the new owners of the condominium begin? When the first owner takes title, or some specially created date?

2. Exactly when does the management fee obligation or payment of each unit begin? If it only begins when the unit's title is transferred, then who is responsible for the management fee of the unit during the time period if the date of the creation of the legal entity of the owners and title transfer date of each unit do not coincide?

Is there a Thai law that covers these aspects? Anybody know? Sunbelt Asia?

I've asked in other forums with Thais, as well as other owners in this project, and no one seems to have knowledge about this?

[quiksilva]

Actually for the transfer of units to begin, the project must be registered as a Juristic Condominium. The Juristic management committee must then be formed within 6 months. Fees are payable from the date of transfer, as the project should have management staff and expenses already in hand and probably will have been on site for at least one week prior to the project's registration.

For more info, or help I suggest you get a professional property management firm to assist.

(*hint see my profile)