Transfer Ownership of the Land in Thailand
One of the best parts in property acquisition is the last and final part, the transfer of ownership of the land or property. Before you get the property under your grasp you still need to settle any remaining balance. Both the buyer and the seller need to settle any government fees and taxes. Even if you already have the funds and all necessary documents for the transfer, without settling the taxes and fees you will not get a hold of the property.
The process of transfer ownership depends on the property that you purchased. The transfer of the ownership for the property usually take place at the Land Office where you will register the property under your name or your company. If you bought the property from a developer even before the said development is completed, the transfer will happen after the property has been completely constructed and ready for occupancy, the title deed will follow suit. The usually process before the transfer of ownership is to settle the remaining balance on that day itself at the Land Office.
Prior to the Ownership title transfer, there are a couple of taxes and fees that needs to be settled first in order to proceed with the transfer successfully. There are a couple of things that you have to consider in terms of the taxes and fees.
Here are some FAQS with regards to taxes and fees (Frequently Asked Questions):
The taxes and fees are usually discussed and settled by both the buyer and the seller, whoever will settle the mentioned financial liabilities should also be included on the Sale and Purchase Agreement between the buyer and the seller or developer.
The buyer and the seller have joint responsibility on settling the government taxes and fees. There are a couple of taxes that needs to be settled before the transfer of ownership will be approved and legalized. Stamp duty tax or special business tax, transfer tax and withholding tax as well as the transfer fees. Please refer to the following:
Our law firm can provide the most convenient solutions with regards to settling taxes and fees. Our service also includes the following:
For more information about Ownership Transfer and our Property Services, please do not hesitate to contact us. Sabai Property Law Firm is always here to help and provide information.