A usufruct agreement allows one person to have a legal rights over another person's property, and is a way for a foreigner to "acquire" land in Thailand.
Usufruct can be registered over a property at the local land office. Once registered, your name will be registered on the title deed (chanote).
In Thailand, a Usufruct contract can be created for a limited time eg 5 years, 10 years, 30 years, or lifetime & the Usufructuary can act like the owner of the land/house, so he/she can lease out the house/land but cannot sell the property.
If the usufruct is registered for 30 years, and the usufructuary dies after 20 years, then the usufruct will be terminated on the death of the usufructuary.
More information:
http://www.samuiforsale.com/real-rights/usufruct-property-rights.html
http://www.siam-legal.com/realestate/Usufructs.php
http://www.thaivisa.com/forum/topic/171307-everything-you-wanted-to-know-about-usufruct-agreements-in-thailand/
Usufruct agreement sample:
http://www.samuiforsale.com/other-miscellaneous/usufruct-agreement-sample.html
Buy & download a Usufruct Contact
I haven't bought the contract from there, but if you decide to buy, please give us feedback via the comment section below.
http://www.thailandlawonline.com/paid-downloads/usufruct-contract-th-en
Real Estate Chiang Mai
www.mychiangmaihome.com
206/29 Moo 6, Meechok Plaza. T. Faham, A. Muang, Chiang Mai
Tel: +66 53 230 369, Mob: +66 83 2000 431
206/29 Moo 6, Meechok Plaza. T. Faham, A. Muang, Chiang Mai
Tel: +66 53 230 369, Mob: +66 83 2000 431
Sunday 19 January 2014
Wednesday 16 October 2013
House for Rent With Large Garden and Doi Suthep View, Sansai, Chiang Mai 24,000 baht/month.
HR-01438
Lovely house with Doi Suthep and ricefield view. Charming 3 bedroom house with granny flat. Nice and large garden; large Western style kitchen; Good sized bedrooms. Very nice location in natural settings. Approx 20 min drive to new Central Festival and Big C Extra (Super Highway).
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Tuesday 15 October 2013
Would you like to buy a property in Thailand?
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