Buying Property

[teemuj]

I am looking to buy condo in Bangkok area. just wondering how in the Thai system you can make sure the condo you purchase does not how outstanding mortgage or loans taken against it that would then later on fall into the purchases liability. Is this done during legal confirmation of title to real property in Land office?

[Sunbelt Asia]

Any existing loans or mortgages taken out on the condo should be registered on the title deed. We always recommend that a potential buyer hire a lawyer to go to the Land Department to check the title deed before considering a purchase.

[sunbelt][/sunbelt]

[dave111223]

In order to transfer the deed at the land department you first must obtain a letter from the juristic person at the condo confirming that all condo service fees are paid in full.

The land department will also require that all mortgages/loans registered on the deed also be cleared before they will make the transfer.

Which means you can't do the transfer if there are legitimate outstanding debts.

There is no need for a lawyer to check on this you can get a copy of the chanote (from the owner) and go to check at the land department by yourself.

[teemuj]

Ok, thanks for the information.

How about sinking fund payments? Do they transfer from the previous owner to the new one, or are you expected to make sinking fund payment to the condo upon change of ownership?