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ResourcesThailand Real Estate & Property LawConveyancing and Property TransferIs It Possible to Have "Wild Title" in Thai Real Estate Matters?

Is It Possible to Have "Wild Title" in Thai Real Estate Matters?

Transcript of the above video:

As the title of this video, we are discussing the concept of "wild title". Now this is kind of a concept that comes from jurisdictions primarily in the United States, at least from my experience. We are kind of extrapolating this notion on to whether or not it is possible to see something like this here in Thailand.

Now, what is "wild title"? Well depending on the type of jurisdiction you are in in the US it may be what is called a "race jurisdiction" a "notice jurisdiction" or a "race notice jurisdiction". On top of that there may also be situations where there are deeds out there that may have been properly formalized but they haven't been recorded at the Registrar of Deeds. In any of these circumstances depending on how they have structured the notice type of mechanism associated with the Registrar of Deeds, you could end up with a situation where a deed could get registered on a property and it may not be readily apparent to the person that may be subsequently looking to buy that. It is for this reason oftentimes folks engage the services of an Attorney to issue what is called a "title opinion" to do a title search make sure that the title is in order or in some cases, in many cases more now these days, they engage the services of title insurance firms that will go ahead and insure the title in order to formally make certain that either there is no title issue or their insured in the event a "wild title" pops up.

Thailand is a little bit different insofar as it utilizes a much more stringent registration system associated with title transfer. In a sense the taxation mechanism, the so-called "transfer fees" associated with the transference of title from one individual to another results in, in my opinion "wild title" almost being impossible because the Government is associated with the transfer of that title from one individual to the other and they assess taxes at the moment that that transfer occurs so they have a vested interest in making certain the formalities are in order for the transfer of that title. For this reason, in my opinion it is much less likely to see a situation akin to "Wild Title" here in the Kingdom of Thailand.