Importance of Hiring a Property Lawyer in Thailand
Whether you're buying property in Thailand or making your first purchase, you should always consult a property lawyer before executing any documents. Thai property law is complicated and mistakes can result in expensive fines. In addition to interpreting Thai property law, a lawyer can help you deal with due diligence, deed transfers, zoning restrictions, and litigation. You may not speak the local language fluently, and some lending agents may not be able to fully explain the legal implications of a contract or other document.
Property Lawyer for Due Diligence
If you are interested in buying a property in Thailand, it is essential to seek the services of a property lawyer. In this country, property lawyers are well-established and can provide a range of services including due diligence. Due diligence can be broken down into several steps, and it is essential to hire an experienced lawyer who has the technical know-how and legal knowledge to guide you through the process. Choosing a lawyer that speaks fluent English is also a very important factor.
A property lawyer can help you determine whether the property is legitimate or not. Even if the property is a new build, it is important to ensure that it has not been previously resold. Some property owners try to sell the property to multiple buyers. If this happens, it can be difficult to recover the money. Litigation in Thailand is often slow and expensive. Using a property lawyer for due diligence in Thailand can minimize the risk of dealing with a property that is not legitimate.
Property Lawyer for Review of Contracts
When buying a property in Thailand, it is essential to get legal help before signing the contract. The legal process can be difficult to understand and mistakes in the contract can result in big fines. Hiring a property lawyer can help you avoid these problems, as he or she understands the complexities of legal writing and can help you with all aspects of your purchase. Legal review of contracts can also be very helpful in the event of a dispute or if the transaction goes awry.
A property lawyer can make sure that all the necessary clauses and rights of both parties are included in the contract. A real estate lawyer will make sure that the contract is enforceable by law, and will also check the fine print, such as deposit payments, property tax, and other obligations of the parties. He will also scrutinize the liability of the parties in the event of any problems arising from the contract.
Property Lawyer for Thai Will and Testament
Whether you own a home in Thailand or another country, a Will is an important document for your estate planning. It should include a clause about your Thai assets. It can be simple or complex and can name one executor or a couple of executors. The executor can be either the head of your law firm or a family member, but it is important that you choose someone you can trust.
When it comes to the creation of a Thai will, you must first decide who will receive your assets. If you own a property, you will need to list the name of the beneficiaries. This includes the name of any minor children, as well as the name and address of someone who will take care of them. A Thai Will should also contain a list of "bequests," which are specific gifts that you intend to make. It should also list the total value of your property, including life insurance proceeds. A property lawyer will be able to assist you in the planning of your will and testament.