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Thailand Condominium Act: What Is a Condominium?

Transcript of the above video:

As the title of this video suggests, we are discussing the Thai Condominium Act and specifically, What is a condominium? How does the Act define Condominium?

Now, while we are using a rather reliable translation of the Thai Condominium Act into English, this should not be viewed as a definitive explanation as to what it means under the Act as first of all, the Act was initially written and the controlling language is Thai, but I thought it was worthwhile to go ahead and make a video real quick.

So under section 4 of the Act, Condominium means “a building that persons are able to divide ownership in the building in parts where each part comprises ownership in personal property and co-ownership in common property. Personal property means a condominium unit including construction and land available provided each unit owner. Unit means part of the condominium that is divided to be owned by separate persons. Common property means parts of the condominium that are not units, the land on which the condominium is situated and other land and property provided for use or common interest of the co-owners. Certificate of common ownership means an important document that certifies ownership in personal and common property.  Then finally, co-owner means the owner of a unit in each condominium.” 

So I think that is relatively straightforward at least to some extent, at least in a general sense I should say, and it should be noted that Thai condominiums can be very beneficial to foreigners here in the Kingdom because under the Thai Condominium Act and its amendments, foreigners can gain freehold title to a Thai condominium notwithstanding the other restrictions under Thai Law with respect to real estate ownership by foreign nationals. So it is possible to go ahead and obtain freehold title to a condominium in Thailand and thereby be able to enjoy the benefits of ownership of one's real property. There are certain regulations and restrictions on these type of freehold titles so it is a really good idea to go ahead and contact a legal professional in order to get some information as to exactly how to purchase a condominium and do so in such a way that it comports with the Act and the relevant regulations in order to ensure that a freehold title is conveyed to the foreign owner here in the Kingdom.