Pattaya is on Sale

[FatherMojo 2]

Can someone please expalin what Chanolte is ?

 

 

Chanote - Land Deed. (But there are different types)

 

 

The below was copied from here: http://www.siam-legal.com/realestate/thail...title-deeds.php

 

 

 

1. Freehold Title deed (Chanote or Nor Sor 4)

This type of title grants the holder of this document the full rights over the land. Thus, if you are planning to buy land in Thailand, this type of title deed is the best option.

 

 

2. Nor Sor 3 Gor

A land awaiting a full title deed is granted the document Nor Sor 3 Kor. The land is measured by the Land Department; therefore, it has its exact boundaries. The owner knows exactly what he owns. This type of land may be sold, transferred, or mortgaged, as a land with freehold title deed (Chanote). The owner of the land may file a petition to the Land Department demanding to change it to a full title deed (Chanote), and the Land Department may do so if there is no opposition made against the petition.

 

 

3. Nor Sor 3

A difference between this type of land title deed and the previous one is that a land with Nor Sor 3 has never yet been measured by the Land Department; hence the land has no exact boundaries. However, Nor Sor 3 may later be switched to a Nor Sor 3 Gor, then a freehold title deed (Chanote) in the future.

 

 

4. Possessory Right

This type of title deed is least recommended. A land with a possessory right has never been substantiated by Department, but is only recognized by tax payments at the Local Administrative Office. Although Thai Law stipulates that a foreigner may not own land in Thailand, there is an alternative step of owning a land in Thailand. This involves registering a Thai Limited Company. A Thai Limited Company means that 51% or more of the company must be owned by Thai Shareholders (the remaining shares maybe held my non-Thais. This Thai company may then legally purchase land in Thailand.

 

We recommend that foreign investors to form a Thai Company Limited as the Articles of Association of this form of Company can be varied to allow greater protection for foreign minority shareholders where majority Thai Ownership is required under the applicable Law.

The Article of Association can be changes to authorize the foreigner to be the sole director of the company, and the only person of the company who can commit or bind the company in any contractual dealing (buying or selling land), effectively giving the minority shareholders control over the company. By following the above procedures the foreigner would control the company and the company owns the land, for this there is no need of recorded funds from overseas.

[John_soi6 0]

Amazing Pattaya !!!

 

Bar and restaurant open....close quicly....There is a mistake !