Freehold - Lease

[Keith4]

I sign a contract on a room in Chonburi.

When the contract was written it was not sure the building will be registered as a condominium.

Then it was written as leasehold but in was taken a point into the contract:

If at any time during the lease term or any extension thereof the apartment are converted into condominiums, the lessee shall have the first right to take title to such ownership.

As i understand it if / when they decide the building shall become a condominium it's bonded my room is one of the 49% (sqm) who will be registered as foreign freehold?

Do i have to ask for freehold or will it go automatic?

[huawei]

Ask but I doubt it will be given. I can't see how an apartment can be converted into a condo. Your lease is no more than a rental agreement.

Could you please explain how they will decide it will be a condominium under the condo act with a condo license and a juristic office.

The building is owned by one person, why would he then convert to a condominium , sorry, but I just don't get this.

I always thought a building need to be classified as either an apartment or a condominium prior to being built.

[KittenKong]

Contracts of that nature are probably worth little or nothing in Thailand.

I would not rely on ever getting anything more than the stipulated 30 years from a lease, and even that may be a struggle.

[KittenKong]

The building is owned by one person, why would he then convert to a condominium , sorry, but I just don't get this.

I always thought a building need to be classified as either an apartment or a condominium prior to being built.

As far as I know the decision to grant a building condo status is only made after it is built. Only at that point can chanotes be issued. I imagine that there is some indication given by the authorities pre-build that such a decision is likely to be favourable, as long as the plans are stuck to.

There is a building at the far end of Jomtien beach which used to be a hotel but has been internally modified and redecorated and is now being marketed as a condo. No idea of exactly how that works though.

An advantage of becoming a condo might be that the building immediately becomes more attractive to farangs and hence more valuable. Possibly much more valuable. Leases seem to be quite common in Phuket (as are many other scams) but personally I would never even consider buying a 30-year lease in Thailand and I am pleased that they are rarely heard of in Pattaya.

[trogers]

The keywords - I signed a contract, ... Not sure...a condominium.

In other words, you do not know what you have bought. So why are you asking in this forum? You should seek the help of a lawyer to read over the fine prints in the contract you have signed.

[huawei]

What is the name of the building?

[Keith4]

When they raise the building it was uncertain whether the building had access to enough parking spaces and swimming pool. Think that was needed to qualified as condominium.

And regarding lawyer I've paid two lawyers who only receive money without following up and helping me.

[KittenKong]

I'm not aware that a swimming pool is a requirement but a certain amount of parking space possibly is. I think there are rules about the percentage of undeveloped land also, though I believe both are to do with the EIA approval.

[trogers]

A developer who has not gained approval for a condo project has no business to start selling one, and a buyer would be foolish to have booked a unit there.

Unless both parties acted out of greed...