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Lease Agreement

 

A long-term, 30-year lease is a popular option among foreigners in Thailand who desire the benefits of owning property. The advantage of a lease option over Thai usufruct, superficies or setting up a Thai company, is its relative simplicity. Contrary to a common misunderstanding, 30 years is the limit for a lease under Thai law. Although a lease agreement may include a renewal clause, automatic renewal is not permitted. For a Thai lease agreement of more than three years to be valid, a Thai language version must be endorsed on the owner’s land title deed, and entered on record at the local Land Department office. To be legally enforceable, a Thai lease agreement must be in writing.

 

Thai leases are easy to understand, but still need to follow legal formalities. Proper legal representation, when entering into a lease, is always recommended.

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