Who owns the land the condo sits on ?

[regedit]

Newbie question... General understanding is that you only own what is inwards from the paint on the party-walls. Does condo association own the infrastructure and the land, and as an owner of the condo you will have an interest in that Condo association ? If so, if you buy a condo from an existing owner how is your interest in the condo association legally registered - is it done automatically from the condo title deeds moving into your name (channot) ?

[KittenKong]

Your description is right.

The building (the Juristic Person) should own the land. As a co-owner you own a share of the building and everything it owns. Part of that share is your own condo. All common parts of the building (like the dividing walls and floors) are co-owned by you and the other co-owners.

I would not want to be involved with a building that did not own the land it sits on.

[Delight]

It is my understanding that although you only 100 % own that which is detailed on your Condominium Title Deed -you co -own the building and the land.

In other words you cannot own the condo private space (L x W X H) in isolation from the rest of the building /land.

My title deed details my voting allocation . Maybe that is the official recognition as to my being a co -owner

[trogers]

Same answer as who owns the assets of a company - the shareholders collectively. And proportioned to their voting rights.

[AlQaholic]

Agree with all previous comments, also the co-ownership and how it is transferred to new owner upon sale is all detailed in the Thai Condominium Act, which is pretty much a copy of most other international similar acts. What is not mentioned in the Act is the sinking fund, which relates to HSE, and is regulated by other law, cant remember which one. This is a fund for emergency repairs relating to Health and Safety, make sure this fund is fully funded before you purchase, otherwise you might end up paying for that.

[merlen10002]

That is easy , the Thai people that own 51% or more of the condos in the block,

[newnative]

It is my understanding that the View Talay Company has retained the ownership rights to the roads, parking lots, and swimming pools at VT3, 5, 6,and 7. At least we were told that when we owned a condo at VT3. Not sure about VT8 as it is run separately and has a separate sales office. Normally the common areas are jointly owned by all the owners.

[dunks]

Thais

[Lynwoodley]

You own the land as a percentage of the size of the condominmum you own. When buying a condo before buying make sure you check out who owns what in the condominimum as the developer in a lot of cases can keep control of a building. He can retain control of how your condo is run and can then force spending how he wishes. Check how all the condos have been sold as in many cases the devoloper can retain the votes. If a condo is sold on a 30 year lease the devoloper retains the votes the leasee never gets the vote, if the condo is sold on finance the buyer does not get the vote until the finance has been paid. In many cases the Developer will assume the role of The Juristic person/manager a Juristic person is an entity not an actual person. You will probably be told that you have to pay a Juristic person if it is a foreigner but you don't, a foreigner can be a Juristic person and can do this for free they only need a work permit if they get paid. Never vote in the developer to be the Juristic/manager of a building as they can cover all remedial costs this way. Thoroughly read the Thai condominimum laws before you buy a condominium.

[huawei]

Never ever buy if the developer is in charge. Ask to see the committee minutes..check what is and what is not common property..

[blackcab]

You own the land as a percentage of the size of the condominmum you own. When buying a condo before buying make sure you check out who owns what in the condominimum as the developer in a lot of cases can keep control of a building. He can retain control of how your condo is run and can then force spending how he wishes. Check how all the condos have been sold as in many cases the devoloper can retain the votes. If a condo is sold on a 30 year lease the devoloper retains the votes the leasee never gets the vote, if the condo is sold on finance the buyer does not get the vote until the finance has been paid. In many cases the Developer will assume the role of The Juristic person/manager a Juristic person is an entity not an actual person. You will probably be told that you have to pay a Juristic person if it is a foreigner but you don't, a foreigner can be a Juristic person and can do this for free they only need a work permit if they get paid. Never vote in the developer to be the Juristic/manager of a building as they can cover all remedial costs this way. Thoroughly read the Thai condominimum laws before you buy a condominium.

I agree with you when you say a foreigner can be a JPM. I agree that the foreigner can do this for free. I don't agree with your statement that, "they only need a work permit if they get paid".

A foreigner needs a work permit for volunteering, even if the work is unpaid.

[KittenKong]

A foreigner needs a work permit for volunteering, even if the work is unpaid.

I think this is the case also.

An official from Jomtien immigration said a while back that farangs without work permits who serve on a building committee had nothing to worry about, but he said nothing about them being JPM.

I would not put my retirement extension in jeopardy by acting as JPM, paid or not. I dont fancy the legal responsibility either.