April 29, 2011

Condominium Inheritance Among Foreign Investors

Bangkok Post, Corporate Counsellor Column

Condominium ownership has become an increasingly popular method of investment in Thailand by foreign investors. When making the decision to purchase a condominium, however, it is necessary for foreigners to comply with several conditions under the Condominium Act B.E. 2522 (A.D. 1979). One issue that is frequently raised by foreign investors is what will happen to their condominium if they pass away. Given the broad range of conditions attached to condominium ownership, foreign investors are justified in wondering about the requirements that will apply to their successor. Are children or relatives abroad able to inherit a condominium in Thailand? Can the condominium be transferred to a successor? Is it possible to arrange a final will to bequeath the condominium to any particular person? This article provides answers to these questions.

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