Absentee landlord / owner

when the owner of a property resides elsewhere, usually in a different country.

BOI

The Board of Investment promotes investment in Thailand.

Condominium

A building that can be separated into units for individual ownership, with common property, such as for the land, hallways and elevators.

Juristic person

A group of people, a company, partnership, or other legal entity that is recognised by law as the subject of rights and duties, just like a single person is.

Lease 

Since foreigners cannot claim ownership of land as freehold, the preferred method of acquiring land is through leasehold. Foreigners can acquire the right to use the land and register at the Land Department the right for a maximum lease term of 30 years.

Servitudes 

A registered 'right of way' that is given to a dominant property for the benefit of a the servient property. In common law, it is known as an 'easement'. For example, if property A is adjacent to property B, and the tenant of property B has to pass through property A to get to property B, then a servitude from property A is needed to grant the right of way.

Superficies

In Thailand, land owners can give the right of superficies to another person, allowing them the right to own building, structures or plantations on or below the land.

Usufruct

A legal construct that gives temporary ownership to a beneficiary without transferring ownership. In Thailand, a usufruct is provided by local land offices.

Villa

Villas are similar to houses, but they connote a sense of exclusivity. In Thailand they are usually in a gated complex, and on a separate plot of their own.

Units of Measurement

Thailand adopted the metric system however, old Thai units are still in common use, especially for measurements of land

Wa - equal to 2m

Rai – equal to 0.4 acres, or 1,600m².

Tarang wa – equal to 4m²

Read more:

• Thailand: obtaining finance as a foreigner
   
• Thailand property taxes
   
• Buying real estate in Thailand