Condo Ownership Laws To Be Changed

[Casanundra]

Acquisition of Condominium Unit by Alien

Previously, an alien could have ownership in a condominium unit or bought a condominium unit in each condominium in a proportion not higher than forty percent of the total space of all units in that condominium at the time the application for condominium registration had been lodging.

Later, on April 28th, 1999, the Condominium Act was amended to facilitate an alien in the purchase of condominium unit. As such, an alien may have ownership in a condominium unit in a proportion not higher than forty nine percent of the total space of all units in that condominium at the time the application for condominium registration is being lodged.

The amended Act also provides that an alien may have ownership in a condominium unit exceeding forty nine percent if the following rules are satisfied:

1. Such condominium shall be situated in Bangkok Metropolis, municipality area or other local administrative area i.e. the Pattaya City;

2. The total area of the land on which a condominium is situated, when combined with the land provided for common use or benefit of all co-owners, shall not exceed five rai;

3. Such condominium shall accommodate not less than forty condominium units;

4. Such condominium shall be registered not less than one year prior to the date an alien applies for ownership in the condominium unit;

5. Such condominium shall not be situated in the area of military safety zone under the law on Military Safety Zone;

6. An alien shall utilize a condominium unit in a way that is not contrary to the local custom or good living of the local community;

However, in a five year term as from April 28th,1999, the rules concerning the acquisition of ownership by an alien in a condominium unit in a higher proportion than forty nine percent shall take effect. After that it shall be repealed, and the alien obtaining an ownership in this regard and the alien receiving an ownership in a condominium unit transferred by the former are allowed to continue holding the ownership in that condominium unit even in a higher proportion than forty nine percent.

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Legal Affairs Division

Department of Land

This just arrived in my in box from my legal eagles out and about around Bangkok so here it is hot off the press so to speak, not sure if there is anything new in this but the rule about owning condos above the 49% ownership seems to indicate that it will not be a problem for those who have found creative ways to bypass it in the past.

Also of interest, the Alien Business Act is about to be changed in 60 days as well...

Edited November 13, 2006 by george

[mexxx]

the 49% rule cannot be violated, as any further transfer of ownership that would violate the rule would not be allowd.

these condo rules whether here or the p.i. have always seemed like musical chairs.

[ThaiBob]

Nothing new here from what I can read. The 5-year term would have ended April 28, 2004. I believe this provision applied only to Bangkok and Pattaya at the time.