Transcript of the above video: 

As the title of this video suggests, we are discussing, well it's interesting, we are discussing the issue of national property ownership rules as it pertains to condos. I thought of making this video after reading a recent article from the Bangkok Post, bangkokpost.com, the article is titled: Phuket up in arms on long-stay visa. That article kind of goes in a different direction; I am purely talking about condo rules here in Thailand. Quoting directly: "Foreigners must comply with national property ownership rules, which stipulate foreigners cannot hold more than 49% of the ownership quota in any condo." 

Yeah, so for those who are unaware, foreign nationals are restricted from owning real estate in Thailand except under the provisions of the Thai Condominium Act, I believe of 1991 if I'm not mistaken. If I look a little sweaty in this video our aircon is having an issue, but that said I'm going to barrel through it to give you the information folks. Yeah, so back in '91 I think it was, they passed the Condominium Act which allows foreign nationals to gain what is called Freehold title or Chanote title over their condo, but one of the big restrictions is foreign nationals can only own up to 49% of the total unit space if you will, of any given condo development. So they cannot own even a majority, even a slight one, of the overall complex. So that's basically the thing to take away and understand. 

Now with regard to legal professionals, we often provide due diligence here in our office and assist folks in purchasing condos. Part of that process is making sure that all national quota guidelines are maintained and that Chanote i.e. Freehold, i.e. Fee Simple Absolute title is passed to a foreign national notwithstanding the restrictions otherwise on foreign ownership of real estate here in the Kingdom of Thailand.