Purchasing of the appartment - money transfer and title deeds

[Dule]

Hi ,

could someone help with advice from his experience about next :

1 ) Money transfer from abroad for apartment purchase:

If amount of money is around USD 40,000 what kind of document land department requires that I should get from the bank ?

2) Title deed :

If there is any irregularities with title deed from the previous owner in that case should officers at land department stop transaction as they should be informed if there is any issue?

Once they ( land department )approved transfer of the title deed into my name that means everything is clear and correct or there might be still some irregularities?

Thank you !

[Langsuan Man]

First of all you must be buying a Condominium, not an apartment in order to qualify under the Condominium Act. The condo must be in the the 49% farang (foreign) quota for you to legally own it. The funds must come from overseas and wired to a Thai Bank. When the money is sent, inform the sending institution that the purpose is "for purchase of a condominium" and the receiving bank will issue a Foreign Exchange Certificate that you will present to the Land Office to prove that the money came from off shore. They will keep the original to attach it to their copy of the Chanote (deed) and will give you a copy with your Chanote

Since you appear not to know much about dealing with the Land Office here in Thailand it might be wise to obtain the services of a lawyer for your own peace of mind, especially if you suspect that there may be some irregularities with the transaction. This is not like the US where you can purchase title insurance to protect yourself from something going wrong with the deed.

[vincentbanner]

Do you need to send money by yourself to Thailand or can that also be done by someone else?

[Langsuan Man]

So long as it goes into a Thai bank account in your name then it makes no difference who sends it. .The currency exchange certificate will just show that it came from off shore to your Thai account