The Definition Of A Condo

[minefield]

This may seem a crazy question but as I intend to retire in Thailand and from what I have read so far I'm not to keen on leasing, Real estate Co's advertise condo's for sale and I agree there are some big condo complexes that look great , BUT , I have seen what I would call a duplex 2 houses joined together and they are also called a condo , At least they are advertised as a condo and as a condo can be owned freehold by a farang, Could be a different option to buying a small place in a complex.

One more question;

I read somewhere that some gated community's are owned by a cooperate body and the corperate body owns the land so it allows the farang to own a house freehold and there are no leases involved???, Is this correct

[trogers]

If a duplex (or semi-detached or twin) house can be called a condo, what should they call a row of 8 townhouses in one block?

If the corporate owns the land, can you also own the house and land? Or just the house? If just the house, you are called the house owner, but not the land owner. What then is the meaning of freehold to such a house owner?

[minefield]

If a duplex (or semi-detached or twin) house can be called a condo, what should they call a row of 8 townhouses in one block?

If the corporate owns the land, can you also own the house and land? Or just the house? If just the house, you are called the house owner, but not the land owner. What then is the meaning of freehold to such a house owner?

You can buy a condo freehold but the corperate body own the land, I though that some gated communitys worked the same way allowing to own the house with out going through the leasehold wrangle, At lease thats what I though it said or how I understood it

Edited December 7, 2009 by minefield

[JusMe]

There's no hassle or wrangle to the leasing of the land under my house in the gated community. The corporation owns the land, leases me the land, I own the house on it. Each year I pay a lease fee plus a maintenance fee. Very much like a condo - I can rent it, sell it, bequeath it. And at the end of thirty years, I can renew the whole thing, if I happen to live that long :-)

[trogers]

There's no hassle or wrangle to the leasing of the land under my house in the gated community. The corporation owns the land, leases me the land, I own the house on it. Each year I pay a lease fee plus a maintenance fee. Very much like a condo - I can rent it, sell it, bequeath it. And at the end of thirty years, I can renew the whole thing, if I happen to live that long :-)

Renewing the land lease for another 30 years will depend on 2 things: any change in corporate owners and/or policy, and what is the asking land rent for another 30-year.

[stgrhe]

North of Hua Hin there is a compound with conventional multi-story condos but also stand alone houses that are also defined as condominiums.

[PattayaParent]

There's no hassle or wrangle to the leasing of the land under my house in the gated community. The corporation owns the land, leases me the land, I own the house on it. Each year I pay a lease fee plus a maintenance fee. Very much like a condo - I can rent it, sell it, bequeath it. And at the end of thirty years, I can renew the whole thing, if I happen to live that long :-)

And what if you, or the corporation, decide not to renew the lease. Can you move your house somewhere else?

[pkrv]

Hi minefield - I have seen this before and know the answer is contained in the condominium act. - I do wish there was a pinned thread on this topic because it takes so long to go back though past posts, and there are so many questions on this.

Off the top of my head there are a miniumum number of units and facilities including green space that define a condominium. I think the number is quite high 50+ but I truly can't remember.

If you take a look at the magic numbers in the following link eg - Condominium Act, B.E. 2522 (1979).

http://www.thailawforum.com/database1/Buyi...ondominium.html

You should eventually be able to track the minimum number of units, and definition of a condominium, down.

MODS PLEASE COULD WE HAVE A PINNED THREAD ON THE CONDOMINIUM ACT/DEFINITION OF A CONDOMINIUM - IMO IT IS THE SAFEST/EASIEST WAY FOR A FARANG TO BUY PROPERTY IN THAILND.

APPARENTLY THERE ARE 50,000 FARANG UNITS IN BANGKOK ALONE!

http://www.siam-legal.com/realestate/Condo...in-Thailand.php

If necessary please just start up an empty thread, contributions will come in!

Edited December 7, 2009 by pkrv

[Crossy]

MODS PLEASE COULD WE HAVE A PINNED THREAD ON THE CONDOMINIUM ACT/DEFINITION OF A CONDOMINIUM - IMO IT IS THE SAFEST/EASIEST WAY FOR A FARANG TO BUY PROPERTY IN THAILND.

Excellent idea PK, we're discussing in the mods forum, keep posting here we can pin this one if there is good info.

[pkrv]

MODS PLEASE COULD WE HAVE A PINNED THREAD ON THE CONDOMINIUM ACT/DEFINITION OF A CONDOMINIUM - IMO IT IS THE SAFEST/EASIEST WAY FOR A FARANG TO BUY PROPERTY IN THAILND.

Excellent idea PK, we're discussing in the mods forum, keep posting here we can pin this one if there is good info.

Thanks Crossy - IMO this thread is already way off base for information on the Condominium Act and What a condominium is - BTW in the UK this concept does not exist - I don't think the OP is buying into a condominium - So IMO this will just cause confusion - IMO a fresh start will help the OP and define the condominium act and what a condominium actually is in Thailand.

A great way for sponsers to help out here - Though IMO it should remain a technical descussion

[oracle]

But a horizontal condos do exist in Thailand, the only difference is that it's not built into the air, but licensed as a condo. Check if it is licensed as a condo, then freehold ownership is possible over the building unit and joint ownership over the land.

[minefield]

There's no hassle or wrangle to the leasing of the land under my house in the gated community. The corporation owns the land, leases me the land, I own the house on it. Each year I pay a lease fee plus a maintenance fee. Very much like a condo - I can rent it, sell it, bequeath it. And at the end of thirty years, I can renew the whole thing, if I happen to live that long :-)

Just the news I weas hoping for, I'll stick with the gated community's.

I feel the general leasing rules are one sided, All in flavor of the Thai, They must be laughing all the way to the bank when they lease to a Farang, If they sold to a another Thai it's sold, "gone" , And if a farang buys it they get the same price and is able to lease and keep the land.

At least buying in a gated community you don't have a single Thai to deal with or his family if he dies, I have dealt with cooperate body's before and know how they work , I feel as I have just won lotto

Thanks for the fantastic news

[johnnyk]

There's no hassle or wrangle to the leasing of the land under my house in the gated community. The corporation owns the land, leases me the land, I own the house on it. Each year I pay a lease fee plus a maintenance fee. Very much like a condo - I can rent it, sell it, bequeath it. And at the end of thirty years, I can renew the whole thing, if I happen to live that long :-)

AFAIK condos can include single houses, they are dwellings too. The condo corp can own the land and lease it to falang. On our estate of individual houses we are currently looking at setting up a company or non-profit to own our common areas/infrastructure with the power to hire/fire staff and engage contractors. If the corp can be structured so owners of the estate have control over decisions then there should be no worries about renewing leases.

[jazzbo]

we are currently looking at setting up a company or non-profit to own our common areas/infrastructure with the power to hire/fire staff and engage contractors.

While all legal provisions must obviously conform to the Thailand Condominium Act, some useful guidelines and legal verbiage could come from the USA State of Florida provisions for Deed Restricted Communities:

. What is a Deed Restricted Community?

In a Deed Restricted Community, certain rules about how each homeowner may legally use his land are written in a document called the Deed Restrictions. These rules adhere to the land, so they apply to every owner of the land. If the land is rented, this applies to the renter as well.

Deed Restrictions are put in place at the time a community is developed. Most often, the developer drafts the Deed Restrictions himself. They are then filed with the county and bind the whole community forever.

http://www.cumberlandmanors.org/frequent.h...ted%20Community

?

... and the actual statute language is at

Title XI

COUNTY ORGANIZATION AND INTERGOVERNMENTAL RELATIONS Chapter 163

INTERGOVERNMENTAL PROGRAMS

163.508 Property owners' association neighborhood improvement districts; creation; powers and duties; duration.-

(1) After a local planning ordinance has been adopted authorizing the creation of property owners' association neighborhood improvement districts, the local governing body of a municipality or county may create property owners' association neighborhood improvement districts by the enactment of a separate ordinance for each district, which ordinance: (ETC.)

http://www.leg.state.fl.us/

Under the Thailand Condominium Act, the Alien is entitled to co-own his/her proportion of the common land so it is very much like the Deed Restricted Community -- the alien is not a land-renter under the Act.

[minefield]

There's no hassle or wrangle to the leasing of the land under my house in the gated community. The corporation owns the land, leases me the land, I own the house on it. Each year I pay a lease fee plus a maintenance fee. Very much like a condo - I can rent it, sell it, bequeath it. And at the end of thirty years, I can renew the whole thing, if I happen to live that long :-)

AFAIK condos can include single houses, they are dwellings too. The condo corp can own the land and lease it to falang. On our estate of individual houses we are currently looking at setting up a company or non-profit to own our common areas/infrastructure with the power to hire/fire staff and engage contractors. If the corp can be structured so owners of the estate have control over decisions then there should be no worries about renewing leases.

I have had another problem put to me ,

If and I mean If the owner of the land in a cooperate body or gated community decides to put a mortgage on the land that you are leasing and goes bust, the creditors come in and for-close what then?????

I though that if you bought a property in a gated community, The people or the owners of the gated community owned the land,,, And the owners used the cooperate body to run it I thought the original owners where out when the property was sold???

And., if it you were able to get it freehold or what ever, And were talking in a gated community , what are your charges??? corperate body charges, What else??

Shit this gets confusing

[donx]

I have had another problem put to me ,

If and I mean If the owner of the land in a cooperate body or gated community decides to put a mortgage on the land that you are leasing and goes bust, the creditors come in and for-close what then?????

I though that if you bought a property in a gated community, The people or the owners of the gated community owned the land,,, And the owners used the cooperate body to run it I thought the original owners where out when the property was sold???

And., if it you were able to get it freehold or what ever, And were talking in a gated community , what are your charges??? corperate body charges, What else??

Shit this gets confusing

Gated communities are typically built by a development company. Those foreigners that decide to "purchase" their property by using a 30 year lease will not own the land and the land will usually remain titled to the development company. Now if the development company goes bankrupt or is dissolved the land titles will probably be transferred to some other Thai company or individual. That 30 year lease will still be enforced upon the new land owner. But don't expect a new 30 year lease after the first 30 years expires without having to pay for the property again.

Additionally, it is unlikely that a bank will allow a mortgage on land that has a 30 year lease assigned to it. Same thing with a usufruct (which can be assigned for your lifetime instead of 30 years).