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Glossary : list of common and popular terms about Property - Real Estate in Thai
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 Informative Article Summary by Anny Redperz
Main types of land titles in Thailand
Land Titles
There are broadly 4 types of Land Title in Thailand, they being Title Deeds (Chanote), Confirmed Certificate of Use (Nor Sor Saam Kor), Certificate of Use (Ngor Sor Saam) and Certificate of Possession (Sor Kor Nung) are common evidence of land ownership, possessory rights and other interests in land. An explaination of each follows.
Chanote
(Title Deeds)
Freehold title with the owner able to leave the land unattended. Title deeds are registered at the Land Department in the province in which the land is located, and there is no wating time required to transfer title. Chanote titles are accurately surveyed, plotted in relation to a national survey grid and also marked by unique numbered marker posts set in the ground. It is the long term goal of the Land Department, that all land in Thailand will be covered under the Chanote title system.
Nor Sor Saam Kor
(Confirmed Certificate of Use)This certifies that the person named on the certificate has the confirmed right to use the land, implying all requirements for the issuance of title deed have been met, and issuance of the title deed is pending. They may be sold, leased, used as mortgage collateral etc. The holder of this certificate cannot leave the land unattended for more than 12 years. The Chanoted and the Nor. Sor. Sam. Kor. Are the only titles over which registerable right of ownership or lease can exist, and are as such the only ones that a prudent foreigner should consider.
Nor Sor Sam
(Certificate of Use)
Similar to the above Confirmed Certificate of Use except that not all of the formalities to certify the right to use have been performed. Before a transfer can be made, a notice of intent must be posted and then 30 days public notice is necessary before any change of status over the land can be registered.
Sor Kor Nung
(Certificate of Possession)
This recognises that a person is in possession of land but the Certificate does not imply that there are any rights associated which the possession. It is not transferable, but a person in possession may transfer physical possession and the new possessor may apply for a new Certificate of Possession.
Land in Thailand is measured in rai, ngan and wah, and land prices are usually expressed in baht per rai or baht per wah for smaller plots. Please find the convertion ratio from the table below:
Thai to Matric
1 Rai = 1600 Sq.m. = 4 Ngan = 0.40 Acre (approx)
1 Ngan = 400 Sq.m. = 100 Talang Wah
1 Wah = 2 M.
Matric to Thai
1 M = 0.5 Wah
1 Sq.m. = 0.25 Talang Wah
1 Acre = 2.53 Rai
1 Hectare = 6.25 Rai
Different between condominium and apartment in Thailand
Condominium is the term use to describe individual ownership of a unit of a multi-unit building. It may include other defined property in which there are undivided ownership interests in the land on which the building and other structures rest, and, in which the other components of the facility are shared in common which the other owners of the units in the building.
Condominiums are regulated in the Building Control Act and the Condominium Act.
Apartment is not defined in the law, but is generally used to describe a unit in a multi unit residential complex (generally by the sellers also referred to as a condominium), however, individual ownership of a unit in an apartment building is not possible. Ownership of an apartment building and unit (not including the land) is based on the co-ownership chapter in the Civil and Commercial Code and agreements between the purchasers. Apartments are not regulated under a separate saction in the law, but must obtain a building permit as a 'Residential Building Complex' regulated under the Building Control Act and Ministerial Regulations.
Restrictions to own a condominium
The Condominium Act generally limits the amount of space in a condominium project that can be owned by foreigners. Currently the limit for most condominium projects is 49% of the total unit space of the project. The restriction is based on the area-not the number-of the units.
Condominium long-term leases
Condominiums can be leased for periods of up to 30 years, which can be renewed. Leases of more than three years are required to be registered with the Land Department.
For Completes lists of Glossary
about
RealEstate Terms
Please Take a look at HERE
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