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ResourcesThailand Real Estate & Property LawConveyancing and Property TransferWhat is the Function of a Property and Real Estate Lawyer in Thailand?

What is the Function of a Property and Real Estate Lawyer in Thailand?

When making a decision to make a purchase of property or real estate in Thailand there are some who overlook the convenience (and sometimes necessity) of attorney assistance. This phenomenon stems from a lack of understanding about how such a professional can be of assistance when making decisions regarding property and real estate matters.

Due Diligence

Many potential property buyers, lessors, and renters overlook the necessity of conducting due diligence before paying someone who claims to have an interest in a particular piece of real estate. Unfortunately, there are some in Thailand who claim to control or own property that they in fact have no authority over. Meanwhile, there are some real estate scams that involves property which has yet to come into existence as such real estate has yet to be developed. In these instances, the retention of a Thai property lawyer to conduct due diligence and find out the legal statute of a particular real estate matter can result in the saving of significant sums of money and untold stress and time. Finding out if one is going to get what one is paying for is often worth the cost of hiring a property lawyer. This is especially true as most matters are far less expensive to handle than most people assume.

Conveyancing

Even in countries where an individual speaks the language of the jurisdiction hiring a lawyer to assist in the purchase, sale, lease, or rental of property can result in a more efficient transfer of assets and therefore less wait time for all of the parties to attain their desire from the transaction. Meanwhile, those foreigners in Thailand will find that the assistance of a trained Thai property lawyer and a team of English and Thai speaking staff can effectively assist in facilitating client understanding of the dynamics of the transaction. It should also be noted that assistance with land transfer can be vital when dealing with officers at the Thai Land Office as national and local regulations can be difficult to decipher even by trained legal professionals.

Instrument Drafting

When drafting documents such as leases, usufructs, mortgages, sales agreements, or short term rental agreements in Thailand it is prudent to retain the assistance of a property lawyer. Drafting such instruments requires a knowledge of Thai law especially as Thai regulations have a significant impact upon the way in which such instruments will be enforced pursuant to Thai law.