title insurance

[runker]

Just wondering if one is able to purchase title insurance when purchasing property in Thailand, and if not wouldn't this make a nice business for a group of Thai lawyers to start up?

[dozer]

It is an interesting question. Normally you are assured title when the deed is recorded so title insurance is not necessary. Anything that can affect your interest in the property, such as a lease or mortgage must also be recorded, so if you are shown on the title .... free and clear.

However, we all know what happened in the Phuket land scandal with phony deeds, the simple fact of transferring the land at the land office did not protect the buyers.

I am also not sure what happens in the case of forgery as in this case. Buyer A goes to buy land/house from Buyer B. Buyer B is the owner of land with a 30 year lease. The 30 year lease holder has given a power of attorney to transfer the land. Later it is determine that Buyer B forged the signature an did not have the right to transfer the land because the power of attorney document was invalid. What happens with the land transfer??

Considering the above type of possible problems it is probably a good suggestion.........

[hansened]

interesting. title insurance.. Your lucky you an trust the chanote or any papers the land office does for ya.

How many scams do you hear about form the workers in land office and those creating the final paper !

[Fokdisaiba]

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