Transcript of the above video:

As the title of this video suggests, we are discussing Thai condos, condominiums, and specifically I wanted to make this video, this is sort of a video to address if you will, just things that I don't think foreign nationals think of when they are looking at buying a Thai Condo. What are we talking about here?

Well specifically Juristic Persons? What is that? Well it's the corporate structure that governs a Thai Condo complex. So for those who are unaware, it is possible for foreign nationals to gain Freehold Title or what we call Fee Simple Absolute in the American Common Law context, aka Chanote Title here in Thailand which is you own the title. You are a foreign national, notwithstanding the restrictions on foreign nationals to own Thai property and real estate in Thailand, it is possible to own a condo outright in Thailand.

But what is the mechanism by which Thai condos maintain for example common areas, gym: they may have a gym or a physical fitness area; they may have a pool? Whose job is it to undertake maintaining those facilities? Well primarily that is the Juristic Person and the Juristic Person generally also is kind of like a Board of Directors if you will of a given condo complex and the Juristic, it's possible to be elected to serve on the Board for the Juristic Person, to basically assist if you will in the ongoing maintenance of the common areas of a condo complex. This is sort of akin to what they call it for example in New York, you will often hear people say "oh the co-op, there's a co-op, we all own our apartments if you will but we have a co-op” and that is in charge of maintenance of the grounds etc., similar to what a Juristic Person is for a condominium complex here in the Kingdom of Thailand.