What happens if you own a condo and the building is sold?
Once a condo is sold, it is removed from the building’s mortgage security. The condominium unit is now collateral for the home mortgage. If the developer has to surrender the building to the mezzanine lender or a different investor, this will not directly affect the unit’s mortgage.
What is the useful life of a condominium? What the law refers to in the 50-year rule is the life of a corporation which is essentially the same as the unit owners that make up the condominium project. However, the condominium corporation can be renewed for another fifty years, so the ownership does not necessarily end.
Can a condo owner be forced to sell in Florida?
A: That’s a great question, and unfortunately, the answer is yes. The new developer could force existing owners to sell their units.
Do you own a condo forever?
While a landlord can clear a rental building at any time, assuming there are no complicated rent control regulations, a condo is yours forever. Rules vary on how a condo building can be rebuilt, but in practice it’s rare to see one completely leveled.
What do you actually own when you buy a condo?
A condominium is a group of housing units in which the owners own their individual space and all the homes share ownership of the common areas. Individual units usually share walls, but this is not a requirement.
Is it easy to buy a condo in Thailand?
The process of buying an apartment in Thailand is quite easy and only a few requirements have to be met: the purchased property must be part of the 49% of the area of the project that could be owned by foreigners. This can be easily checked at the developer’s office directly with the legal officer.
How long does it take to buy an apartment in Thailand? If buying a pre-built or used condo, a small deposit is often paid to secure an agreement and then full payment is made before the property is registered. There are no legal requirements regarding time, but it seems normal that from the deposit being paid most sellers expect it to be completed within 30 days.
How much is the average condo in Thailand?
In the fourth quarter of 2021, the average selling price per square meter of Bangkok condominiums in the central business district was about 240,000 Thai baht.
Is it worth buying a condo in Thailand?
Under the right circumstances, buying an apartment in Thailand can be a rewarding purchase and a sound investment. If you are a foreigner interested in buying an apartment in Thailand, there are several issues to consider. Thai law only allows foreigners to buy flats under certain circumstances.
Can foreigner own a condo in Thailand?
There are no nationality restrictions and all foreigners who can legally enter Thailand (no visa class requirements) can buy and own a condominium unit within the condominium’s foreign ownership quota, but each foreigner must qualify personally for the property under Section 19 of the Condominium Act.
You can enter Thailand through a land border using the 30-day visa waiver 2 times in a year. If you need to enter by land more than this, you will need to obtain the appropriate visa before you travel. For more information, contact the nearest Thai embassy or consulate.
Can I marry a Thai woman?
Legal registration of marriage in Thailand can be done at any district office in any province on any working day between 8:00 AM and 3:00 PM. You need original passports and proof that you are single when marrying a Thai woman in Thailand.
Do you have to pay to marry a Thai girl? The standard cost can be 100,000 – 300,000 baht (~3,200-9,600 USD). There are many criteria for the amount of bride price in Thailand. Its amount is based on your Thai girlfriend’s status, education, occupation and other related social data (such as her virginity).
What happens when you marry a Thai woman?
Traditionally, a man who marries a Thai bride would go to live with her family; then the husband would be obliged to take care of his new in-laws financially and would receive their support in reciprocity. Family houses are usually inherited through daughters, and their husbands also benefit.
What happens if you marry a Thai citizen?
Thai law provides a fast track to citizenship for those with deep connections to the country through marriage. Simply put, you can apply for citizenship without first having Thai permanent residence for five years.
Can a foreigner marry a Thai girl?
Foreigners wishing to get married will need to present themselves with their respective passports and arrival card to their embassy in Thailand to complete declarations proving that they are single and free to marry in accordance with the law Thai and registration must be done by a Thai Diplomat or consular officer.
How much does a condo in Thailand cost?
| level | Price per m² |
|---|---|
| Mid range | ฿70,000 – ฿89,999 |
| Medium-high range | ฿90,000 – ฿119,999 |
| High Range | ฿120,000 – ฿199,999 |
| Luxurious | ฿200,000 – ฿299,999 |
How much should I pay for an apartment in Bangkok? An average one-bedroom apartment with few amenities in the suburbs of Bangkok will generally cost around 1 million baht, or about $32,000, to 2.5 million baht, or about $80,000.
Is it worth buying a condo in Thailand?
Under the right circumstances, buying an apartment in Thailand can be a rewarding purchase and a sound investment. If you are a foreigner interested in buying an apartment in Thailand, there are several issues to consider. Thai law only allows foreigners to buy flats under certain circumstances.
What is the average cost of a condo in Thailand?
In the fourth quarter of 2021, the average selling price per square meter of Bangkok condominiums in the central business district was about 240,000 Thai baht.
How long can foreigners live in Thailand?
When you move to Thailand, you will need to obtain a visa, a requirement of Thai immigration law. Most people who move to Thailand do so on a tourist visa (valid for 60 days) or a non-immigrant visa which is initially valid for 90 days and will then need to be extended through Thai Immigration.
How can I stay in Thailand for more than 90 days? You must apply for a Thai visa extension at the Office of the Immigration Department of Thailand, which has jurisdiction over the area of Thailand where you will live. You must fill out the application form for extension of temporary stay in the Kingdom Form TM.
Can a foreigner live in Thailand permanently?
The permanent residence permit allows you to stay in Thailand permanently without the need for a visa. In addition, it is another step on the way to acquiring citizenship and a Thai passport. This is an opportunity that the Thai government offers to only 100 people of each nationality each year.
Can I stay in Thailand for 2 years?
Thailand offers numerous types of long-term visas for foreigners who want to stay in Thailand for a long period. Foreigners can apply for the following long-term visas: Thailand Elite Visa. One-year extension of stay (retirement, marriage)
How can I stay in Thailand permanently?
To be eligible to receive a Thailand permanent residence permit, you must meet one of the following criteria:
- Employment: You have held a Thai work visa and work permit for at least three years and
- Investment: You have invested at least 3 million baht in a limited or public company in Thailand.
