Yet, everyday dormant or working agricultural land [less commercial/forested/government land] has shot through the roof - be it private or banking hands - of the last 20-25 years, almost unreasonable considering it's humble usage. The trends are shifting to leasing lands on a working basis, whereas the landlords can show some sort of manipulated shared profit - better than the land sitting vacant.
I'm of the opinion that the artificially inflated price of land [throughout Thailand] will naturally revert to their real reflective working values within a decade, as there isn't a market for stagnant property vacant.
We just completed purchase [our novel property] of four rai rural river property, originally asking B1,000,000 + during a "lease-to-own" agreement, in which the owners came to us with a final B400,000 offer to purchase, as they hadn't had any firm suckers for a couple of decades and truly wasn't valued anywhere near the original asking price. Naturally, we jumped on it knowing quite well the truer value of this parcel. I believe the trends will filter this way, generally speaking...
You cannot borrow on land that is Sor Por Kor. The title deed doesn't allow it. Sor Por Kor land can be taken back by the government at anytime they wish without paying compensation. You don't actually own Sor Por Kor land even though your missus may well tell you she does. Best land to buy, all sing and dancing, is 'Chanote' titled land.
I'm aware of what a chanote is and would never buy anything else. Is there bare land without a dwelling that can be chanote land? I'd guess so if someone had a chanote on a large section and sub-divided. I think Mrs was referring to chanote land when she spoke to me because she would never buy anything other than something that is freehold...or maybe the bank that told her assumed it was not chanote land.
Investigation required.
Thais are really not honest when it comes to defending themselves. If you care to publish a photo of the title that is in the top right hand corner of your land paper I will gladly tell you what the actual title is. Between you and me, always get a second opinion if a Thai says 'good morning'.
When I had dengue and was shifted from Sikarin to Hatyai hospital, I was first put in a ward where there were occupied beds in the corridors and the beds in the ward were about a foot apart. I paid to go to a private room. Barely room for a nurse to get in.
My FiL had eye problems and back problems and we had to pay for something. I'll ask Mrs tomorrow.
u got me confused prag. i understand the chanot to have three levels/grades all graded by the embosment of the flying thingy, a red one being first class. dont touch anything else. wots in the corner. the flying thing is in the middle of the heading
The actual wording as to the land title.
Freehold Title Deed (Chanote Or Nor Sor 4)
This type of title grants the holder of this document full rights over the land, to deal with or to use it to the exclusion of others.Thus, if you are planning to buy land in Thailand, this type of title deed is the best and most credible title deed to hold.
Nor Sor 3 Gor
- A land 'awaiting' a full title deed is granted the document Nor Sor 3 Kor.
- The land is measured by the Land Department; therefore, it has its exact boundaries.
- This type of land may be sold, transferred, or mortgaged in the same manner as land with freehold title deed (Chanote) as long as it is ready to be a full title deed.
- In order to change the title to a Chanote, the owner of the land may file a petition to the Land Department to file a request to change it to a full title deed (Chanote), and the Land Department may do so if there is no opposition made against the petition.
Nor Sor 3
- The difference between this type of land title deed and the Nor Sor 3 Gor is that a land with Nor Sor 3 title has never yet been measured by the Land Department; hence the land has no exact boundaries.
- The Nor Sor 3 title may later be switched to a Nor Sor 3 Gor then subsequently transform to that title to a freehold title deed (Chanote) in the future.
Last edited by Pragmatic; 24-07-2018 at 10:34 AM.
....and I hope Prag's relevant post cleared up the complexities that some attach to property documentation/ownership.
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