Getting the Deal Through – Real Estate 2016 provides a guide to property and real estate law in 26 jurisdictions worldwide. Cynthia M. Pornavalai, partner, and Chaiwat Keratisuthisathorn, attorney-at-law, in Tilleke & Gibbins’ corporate and commercial group, coauthored the Thailand chapter of the guide. The chapter provides a comprehensive overview of real estate ownership and investment in Thailand, covering the following main subjects:
- General: Thailand’s legal system explained to an investor; registration or recording of ownership, leasehold, and security interests in real estate; requirements for registration or recording conveyances, leases, and real estate security interests; requirements for non-resident entities and individuals to own or lease real estate; exchange controls; legal liability; governing law of a transaction involving properties in two jurisdictions; court jurisdiction; differences between commercial and residential property; planning and land use; government appropriation of real estate; forfeiture; and bankruptcy and insolvency
- Investment vehicles: Legal forms of investment entities and tax requirements, forms of entities customarily used by foreign investors, and organizational formalities and requirements
- Acquisitions and leases: Categories of legal ownership, leasehold, and other occupancy interests in real estate; pre-contract matters; typical provisions in a contract of sale; environmental clean-up; lease covenants and representation; leases and real estate security instruments; delivery of security deposits; due diligence; structural and environmental reviews; review of leases; preparing for a closing of an acquisition, leasing, or financing; closing formalities; and contract breach and remedies
- Financing: Types of real estate security instruments available to lenders, leasehold financing, method of creating and perfecting a security interest in real estate, valuation, legal requirements, loan interest rates, loan default and enforcement, loan deficiency claims, protection of collateral, recourse, cash management and reserves, credit enhancements, loan covenants, typical financial covenants required by lenders, secured moveable property, and single purpose entities
Reproduced with permission from Law Business Research Ltd. This article was first published in Getting the Deal Through: Real Estate 2016 (published in November 2015; contributing editor: Joseph Philip Forte, DLA Piper LLP). For further information please visit www.gettingthedealthrough.com.