Lease agreement and rental contracts
Because foreigners are normally not allowed to own land in Thailand, many of them wishing to live in Thailand decide to lease a property. The Commercial and Civil Code of Thailand (CCCT) allows any person to lease an immovable property for a maximum period of 30 years. It’s under a section HIRE OF IMMOVABLE PROPERY (section 537 to 571 CCCT).
It’s basically a legal agreement where the owner (lessor) gives to another person (hirer or lessee) the rights to have exclusive possession and some benefits on the property for a fixed period of time.
The right of superficies is a real right, known in most of civil law countries (like in France, Switzerland,Thailand, etc). The owner of a piece of land granting superficies gives to the beneficiary a right to own, upon or under the land, buildings, structures or plantations.
The Thai Commercial and Civil code mentions:
“Section 1410. The owner of a piece of land may create a right of superficies in favour of another person by giving him the right to own, upon or under the land, buildings, structures or plantations.”
Thai Last Will and Testament
It would be very comforting to know that at the time your loved ones are mourning your death, you will have done everything in your power to avoid problems. A last will and testament lets you choose your heirs (“legatees”) and clearly outlines your last wishes. If you do not make a will, the law in Thailand will instead determine who inherits your property. A proper will is a guarantee that your wishes will be respected. It will also make settling your succession that much easier.
Usufruct Agreement in Thailand
Usufruct contracts are governed by sections 1417 to 1428 of the Commercial and Civil Code of Thailand. A usufruct is a right granted by the owner(s) of the land/house in favor of a usufructuary whereby this person has the right to possess, use and enjoy the benefits of an immovable property (section 1417 CCCT). The usufructuary has the right to manage the property (sect 1414 CCCT). It can be on a piece of land, on a house or on both of them.
This post is also available in: Anglais, Thaï