30 Year + Lease Agreement

[ozzydom]

I am now in receipt of the 30year + lease agreement, which I am assured by the solicitor of Koolpunt , one of the biggest property developers in the north is iron-clad once it is registered with the district land office. As I dont have a scanner I will have to re-type (one finger) so please give an indication if you want me to post the full agreement. (2 A4 pages). the ageement is ,according to them, suitable for home/land registered in a Thai name and leased to a farang.

ozzydom

[JimmyGreaves]

Ozzydom, Does this type of lease give you the ability to transfer the lease during those 30 years to anyone you like, farang included?

Regards

John

[Sumitr Man]

John:

Section 544 of the Civil and Commercial Code of Thailand:

Unless otherwise provided by the contract of hire[lease], a hirer cannot sublet or transfer his rights in whole or part of the property hired to a third party.

If the hirer acts contrary to this provision, the letter may terminate the contract.

(my itialics for emphasis).

So, if you wanted a provision like you mention, you would have to include it as part of the lease contract, or risk falling foul of 544.

SM

[dr_Pat_Pong]

I am now in receipt of the 30year + lease agreement, which I am assured by the solicitor of Koolpunt , one of the biggest property developers in the north is iron-clad once it is registered with the district land office. As I dont have a scanner I will have to re-type (one finger) so please give an indication if you want me to post the full agreement. (2 A4 pages). the ageement is ,according to them, suitable for home/land registered in a Thai name and leased to a farang.

ozzydom

<{POST_SNAPBACK}>

it sounds good Oz. Find a mate with a scanner and post it ( after deleting your personal info ) Many thanks

[ozzydom]

Ozzydom, Does this type of lease give you the ability to transfer the lease during those 30 years to anyone you like, farang included?

Regards

John

<{POST_SNAPBACK}>

Clause 4 ..The lessee may assign or sublet the premises to other parties etc etc

give me an hour and will post full agreement

ozzydom

[Jai Dee]

Ozzydom, Does this type of lease give you the ability to transfer the lease during those 30 years to anyone you like, farang included?

Regards

John

Clause 4 ..The lessee may assign or sublet the premises to other parties etc etc

give me an hour and will post full agreement

ozzydom

Great stuff ozzydom.

Thanks mate.

[xyz]

I am now in receipt of the 30year + lease agreement, which I am assured by the solicitor of Koolpunt , one of the biggest property developers in the north is iron-clad once it is registered with the district land office. As I dont have a scanner I will have to re-type (one finger) so please give an indication if you want me to post the full agreement. (2 A4 pages). the ageement is ,according to them, suitable for home/land registered in a Thai name and leased to a farang.

ozzydom

<{POST_SNAPBACK}>

What are the chances of their changing the rules on you later for additional payment?

[ozzydom]

I am now in receipt of the 30year + lease agreement, which I am assured by the solicitor of Koolpunt , one of the biggest property developers in the north is iron-clad once it is registered with the district land office. As I dont have a scanner I will have to re-type (one finger) so please give an indication if you want me to post the full agreement. (2 A4 pages). the ageement is ,according to them, suitable for home/land registered in a Thai name and leased to a farang.

ozzydom

<{POST_SNAPBACK}>

What are the chances of their changing the rules on you later for additional payment?

<{POST_SNAPBACK}>

Its posted now ,have a look see

[RDN]

Its posted now ,have a look see

<{POST_SNAPBACK}>

Where'd you post it, Ozzydom?

Oops - OK, I see it.

Edited May 17, 2005 by RDN

[herbelet]

I am now in receipt of the 30year + lease agreement, which I am assured by the solicitor of Koolpunt , one of the biggest property developers in the north is iron-clad once it is registered with the district land office. As I dont have a scanner I will have to re-type (one finger) so please give an indication if you want me to post the full agreement. (2 A4 pages). the ageement is ,according to them, suitable for home/land registered in a Thai name and leased to a farang.

ozzydom

<{POST_SNAPBACK}>

here i will buy a land soon afterbeeing maaried with a bargirl not not registered maariage .. can you giv me more info on how you did apply for that 30 years lease? how to get a trustable lawyer ????

[johng]

Ozzydom or RDN where is the agreement posted I can't see it

[Jai Dee]

Ozzydom or  RDN    where is the agreement posted  I can't see it 

Here it is.

[johng]

Ohh ok thanks for that.... I just assumed it would be in this thread ( silly me )

[nasa]

I have a very bad experience buying house at Koolpunt Property Co Ltd in Hang Dong, Chiang Mai Thailand. Despite the expensive price compare to other housing estate in chiang mai, Our house was not built up to what being promised. The Contracted that build our house were using low quality materials and using illegal worker (mostly from Myanmar) to built the house. Just after 3 months we moved in, there were major crack on the wall, ceiling leakage, our bathroom floor sinks and crack, our water pipe system stuck, We have to called the Office many time and usualy ended up quarrelling as they ignore our complaint. Finally they sent some inexperience and illegal worker to our house whom doesn't really understand Thai's language very much and make a mess in reparing those complaints. They come and repaired the crack wall for a day and incomplete and never come back again the next day till about 1 week when we have to called the office again. Finally we engaged outside contractor on our own expenses to see into all the problem that mention above and it cost us more than 150,000 baht. It take about amonth for this contract to fixed our house gain. We are putting up notice to sell this house but not many buyer like this place as it is about 12 kilometer to the chiang mai city. I just don't know how they are granted the ISO Quality. The after sale service is very bad and the staff are rude and not attentive. They always promise hel_l of a lots but never deliver. Security in the night is bad, thief in many house, grass are not cut and clean, rubbish are collected once a week inspite high service fees. Only the main road is clean, Other areas are not looked after.

For me and many other dissatisfied resident here we ended up trying to sell the house and get better housing estate in chiang mai.

For those that having interest in this company project, please be careful and don't rush into buying property here at the first look. Normally if you come with your own car, This Koolpunt Staff will not allowed you to go in to see the property. They will bring you with their own company van and show you around their property. This is to avoid you from getting in touch with the resident here. Try asking some of the resident here (not the newly moved in resident) if you have a chance, before you commit yourself.

For me, I would personally advised you not to buy your dream house / property here.

I hope those that have bad experience to come out and tell those innocent buyer's out there.

Again, if you a farang coming here to buy house with your thai wife - be extra more careful. You will ended up here with the rest of 50% dissatisfied farangs who have bought the house here.

If you ignore my advise and wish to proceed your buying - make sure you are around everyday to see and supervise the construction (which they will not like it as they are used to built house without the owner around, what more if you are not staying in thailand). I have seen they quickly built and completed a house in less than the dated promised when the buyer's is not around to avoid the low quality workmanship and materials.

I have a German friend "Mr. KARL" who stayed around supervising the building of his house here and it take them to complete the housing in 24 month. The contarctor create so much problem for him that he finally engaged his own contractor to finish building his house.

They are many more here to tell but this much is enough.....

Even their website koolpunt.com is dead now.

Edited May 7, 2006 by nasa

[murtlebeach]

wow, nasa, sounds not good buddy, thanx a lot

just lookin around here now in cm

[chiangmaibruce]

I appreciate that this is a very old thread, but as it has been bumped up anyone reading it now should be aware that there are better and more recent discussions of the 30 year + lease issue in TV, including for example:

http://www.thaivisa.com/forum/303030-Year-...sc-t166345.html

I also wouldn't get too excited about the lease agreement linked to this thread. Note in particular that there are no restrictions whatsoever on the terms and conditions of possible renewal/extension which makes it just about meaningless (in terms of any guarantee after the initial term). Also see the clause re: if the laws change and foreigners can own property ... there is no guidance given in terms of monetary cost to action this, again making it a non-event in terms of adding value to the deal

[InterestedObserver]

It is my understanding, which could be wrong, that anything past 30 years for a lease has not been tested in the courts, and is therefore unenforceable. You can have a 30+30+30 lease, but if the parties disagree after the first 30 year period, then there are big problems.

[stgrhe]

SECTION 540 of The Civil and Commercial Code reads:

" The duration of a hire of immovable property cannot exceed thirty years. If it is for a longer period, such period shall be reduced to thirty years. The aforesaid period may be renewed, but it must not exceed thirty years from the time of renewal."

[johnnyk]

SECTION 540 of The Civil and Commercial Code reads:

" The duration of a hire of immovable property cannot exceed thirty years. If it is for a longer period, such period shall be reduced to thirty years. The aforesaid period may be renewed, but it must not exceed thirty years from the time of renewal."

It doesn't come much clearer than that, folks. I'm guessing that SECTION 540 outranks developer bullspeak.

[yabaaaa]

I have a very bad experience buying house at Koolpunt Property Co Ltd in Hang Dong, Chiang Mai Thailand. Despite the expensive price compare to other housing estate in chiang mai, Our house was not built up to what being promised. The Contracted that build our house were using low quality materials and using illegal worker (mostly from Myanmar) to built the house. Just after 3 months we moved in, there were major crack on the wall, ceiling leakage, our bathroom floor sinks and crack, our water pipe system stuck, We have to called the Office many time and usualy ended up quarrelling as they ignore our complaint. Finally they sent some inexperience and illegal worker to our house whom doesn't really understand Thai's language very much and make a mess in reparing those complaints. They come and repaired the crack wall for a day and incomplete and never come back again the next day till about 1 week when we have to called the office again. Finally we engaged outside contractor on our own expenses to see into all the problem that mention above and it cost us more than 150,000 baht. It take about amonth for this contract to fixed our house gain. We are putting up notice to sell this house but not many buyer like this place as it is about 12 kilometer to the chiang mai city. I just don't know how they are granted the ISO Quality. The after sale service is very bad and the staff are rude and not attentive. They always promise hel_l of a lots but never deliver. Security in the night is bad, thief in many house, grass are not cut and clean, rubbish are collected once a week inspite high service fees. Only the main road is clean, Other areas are not looked after.

For me and many other dissatisfied resident here we ended up trying to sell the house and get better housing estate in chiang mai.

For those that having interest in this company project, please be careful and don't rush into buying property here at the first look. Normally if you come with your own car, This Koolpunt Staff will not allowed you to go in to see the property. They will bring you with their own company van and show you around their property. This is to avoid you from getting in touch with the resident here. Try asking some of the resident here (not the newly moved in resident) if you have a chance, before you commit yourself.

For me, I would personally advised you not to buy your dream house / property here.

I hope those that have bad experience to come out and tell those innocent buyer's out there.

Again, if you a farang coming here to buy house with your thai wife - be extra more careful. You will ended up here with the rest of 50% dissatisfied farangs who have bought the house here.

If you ignore my advise and wish to proceed your buying - make sure you are around everyday to see and supervise the construction (which they will not like it as they are used to built house without the owner around, what more if you are not staying in thailand). I have seen they quickly built and completed a house in less than the dated promised when the buyer's is not around to avoid the low quality workmanship and materials.

I have a German friend "Mr. KARL" who stayed around supervising the building of his house here and it take them to complete the housing in 24 month. The contarctor create so much problem for him that he finally engaged his own contractor to finish building his house.

They are many more here to tell but this much is enough.....

Even their website koolpunt.com is dead now.

You want to know how they get ISO??? They buy it, my wife worked for a company that "bought" the ISO when they came round.

[chiangmaibruce]

So section 540 would rule out a 60 year lease or a 30+30+30 years lease (for example) but perhaps not so cut and dried with a 30+30 year lease, where the second term is an option to renew the terms of the original lease.

"The aforesaid period may be renewed". But is that in an entirely separate and subsequent agreement? or by way of an option to renew in the original lease?

There seems to be three schools of thought at present:

School 1 are the developers and some of their pet solicitors: You can put what you like in a contract, as long as both parties sign it, it's a contract right? so 30+30 is fine, 30+30+30 no problem, etc.

School 2 is the majority/consensus view now: You can only lease for a maximum of 30 years and any longer than that - even as an option - is unenforceable

School 3 is some solicitors: These folks say that provided a contract is appropriately and carefully worded and includes a 'declaration of intention' to grant a further lease period, then a 30+30 year lease term IS feasible and should be binding on the lessor and their heirs and successors ... while admitting that such as agreement has yet to be tested in court.

no prize for guessing that school 2 is the safest bet right now.

[stgrhe]

So section 540 would rule out a 60 year lease or a 30+30+30 years lease (for example) but perhaps not so cut and dried with a 30+30 year lease, where the second term is an option to renew the terms of the original lease.

"The aforesaid period may be renewed". But is that in an entirely separate and subsequent agreement? or by way of an option to renew in the original lease?

There seems to be three schools of thought at present:

School 1 are the developers and some of their pet solicitors: You can put what you like in a contract, as long as both parties sign it, it's a contract right? so 30+30 is fine, 30+30+30 no problem, etc.

School 2 is the majority/consensus view now: You can only lease for a maximum of 30 years and any longer than that - even as an option - is unenforceable

School 3 is some solicitors: These folks say that provided a contract is appropriately and carefully worded and includes a 'declaration of intention' to grant a further lease period, then a 30+30 year lease term IS feasible and should be binding on the lessor and their heirs and successors ... while admitting that such as agreement has yet to be tested in court.

no prize for guessing that school 2 is the safest bet right now.

That is also my guess, although in School 1, as you put it, it is perfectly o.k. to put a in a lease clause of 30+30+30 years in the agreement. The problem with that is, however, the same terms cannot be registered at the land office since it apparently violates Thai law.