Thailand Reviews Proposed Condo Law Amendment

by admin on October 27, 2014

The Bangkok Post reports that several property management firms have expressed concerns over a new Condo Law amendment that would eliminate the requirement of common area fees debt settlement on a condo unit before the transfer of ownership.

Some opponents to the proposed amendment point out, according to the Bangkok Post, that the amendment would only serve to increase the long term costs incurred by juristic condominium complex owner due to increased legal expenses to settle legal disputes over unpaid common area debts.

Chaninat and Leeds’ Thailand condominium lawyers are experts on Thailand real estate, property, and land laws.  

Under the current Thailand condo law, common area expenses have to be settled before a condo unit can be transferred to a new owner.

The proposed amendment is still under review by the Legal Execution Department.

Read the full story here.

Learn the some of risks of buying a condo in Thailand in the video below:

Related Thailand Law Documents:
Thailand Condo Act
Thailand Land Code

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