When purchasing a property in Thailand, the interested party is really not legally mandated to employ various procedures such as due diligence and title search but he is expected and required to adhere to the legal process involving property acquisition. Nonetheless, he may still go on the extra mile and conduct these procedures primarily to protect his interests and investment.
There are several types of title deeds and claim certificates Thailand has with each of them signify different levels of ownership, possessory rights or claim over the land, whichever will apply.
Through a title search, the type of title the property in which the individual is interested in, will be clarified and determined if its sale, transfer or lease is allowed to be pushed through under Thai law or not. Further, a title search can also determine if the owner of the property is the actual and legal owner of it and or if the agent or developer dealing the property has the legal capacity to do so as there is a chance that the person dealing the property is not legally sanctioned by the rightful party. Aside from that, a title search can also uncover whether the property has encumbrances which cause burden on the part of the interested party.
Additionally, a title search does not only involved uncovering the type of title the property has since it also helps uncover who the previous owners of the property are starting from the seller way back to the time when it was still owned by the King since historically speaking, all lands in Thailand originally belonged to him.
With the title thoroughly examined and traced, the interested party will now have more information about the property which he can then utilized that he may arrive at the right decision on whether or not to go through with the acquisition or to abandon his plans on the said property and look for other available properties instead.
