When it comes to Property Title Transfer in Phuket Thailand, there are several factors that should be considered. These include the type of property you are purchasing, the price you are paying for the property and your ability to complete the process of ownership transfer in a timely manner.
Land titles are a key factor in the purchasing process and they provide the buyer with important information about the property that is being purchased. A good land title deed is essential as it shows the owner’s exclusive rights to the property and any registered encumbrances such as mortgages and leases.
Depending on the type of property you are looking to purchase, there are about 10 different types of land titles available. These different titles give the owner various levels of security and allow them to upgrade their ownership in a relatively short amount of time.
A Chanote is the most secure land title in Phuket and is a form of ownership deed that grants full rights to the owner over the land. It is the most sort after land title in Phuket and commands a premium as it provides a level of protection for your investment.
There are a number of ways you can obtain this land title deed in Phuket including visiting the local Provisional Land Office or hiring a lawyer to handle the application for you. Typically, it takes about two hours to apply for this title.
Sor Kor Nung is the least secure land title in Phuket and does not provide any form of ownership rights over the property. Often this type of title is found in areas that have not yet been surveyed, or where the land is located within a large area where the owners have not been able to upgrade their land. This is because a large percentage of Phuket has not been properly surveyed and therefore cannot be upgraded to a Chanote title.
The Chanote can be a good alternative to the Sor Kor Nung title and is available from the Provisional Land Office in Phuket Town. The Chanote deed is a certificate of ownership that can be presented to government authorities and it can also be used to register any usufructs or mortgages on the land in order to gain encumbrances against it.
Another land title in Phuket that is very popular with foreign buyers is the Ngor Sor Saam (Certificate of Use) title deed. This is a form of land title deed that does not show ownership but it is proof that the land has been used for some reason and can be upgraded to other types of titles in the future.
In addition to this, a Ngor Sor Saam deed can be transferred to a Nangsue Kammasit Hong-Chut title, which is similar in weight and value to the Chanote. This is a land title deed that is mainly used by foreigners who are buying properties in a condominium building.
The best way to ensure you are getting the right property for your needs is by using a qualified real estate agent in Phuket Thailand. They will be able to guide you through the process of obtaining the right property for your needs and can help you avoid a lot of headaches along the way.