The most common way for foreigners to enjoy the benefits of property ownership in Thailand is through a long term lease. The lease agreement gives to foreigners the rights to have exclusive possession and some benefits over a land, house, condominium unit, or other building during the term of the lease.
A long-term lease can be made for up to 30 years and may be renewed, upon the owner’s discretion, for another 30 years. The lease is valid even upon the death of the lessor and the lessor’s heirs are bound by law to honor the agreement. It cannot be transferred or sublet to third parties without the consent of the lessor.
Although, entering into a lease agreement can be made into a straightforward way, foreigners should be aware of certain formalities they should comply with in order to properly secure their rights of long-term property use, and seeking legal advice is highly recommended.
At Antares, our experienced lawyers can provide valuable legal advice and assistance, ensuring that your interests are fully protected.
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Please feel free to contact us for additional information or assistance you may require with your long-term lease in Thailand.