Deed: Bangkok Real Estate

Deed: Bangkok Real Estate
Deed: Bangkok Real Estate

Deeds, within Bangkok’s real estate, serve as legal documents that transfer property ownership. This concept is a type of legal instrument distinct from leases and mortgages.

Deeds necessitate the involvement of at least two parties: the grantor and the grantee, unlike licenses which involve only a permission from the owner to use the property.

What sets deeds apart from other similar concepts like leases and mortgages in Bangkok real estate is their permanence in transferring ownership rights. Leases offer temporary rights to use property, while mortgages are security interests given to lenders against the property, not transferring ownership.

Deeds, conversely, ensure the full transfer of property rights from one party to another, which is irrevocable barring legal action.

Popular features specific to deeds in Bangkok’s real estate market include title warranties, precise property descriptions, and execution formalities. Title warranties guarantee the grantor’s rightful ownership and right to transfer the property, such as in the case of Chanote titles.

Precise property descriptions ensure accurate identification of the property being transferred, including land area and location. Execution formalities require deeds to be signed, witnessed, and sometimes sealed to be legally effective.

Common features across deeds involve the necessity for grantor and grantee identification, the inclusion of consideration, and delivery and acceptance of the document. Identification clarifies the parties involved in the transaction.

Consideration refers to the value exchanged for the property transfer, be it money or other valuable objects. Delivery and acceptance signify the grantor’s intention to make the deed effective and the grantee’s acceptance of the rights transferred.

Unusual features of deeds can include the possibility of restrictions being placed on the property, rights of way being granted, or covenants being attached to the deed. Restrictions may limit the type of constructions allowable.

Rights of way grant non-owners the right to traverse the property. Covenants could mandate or forbid certain actions on the property by the new owner.

Unique to deeds are features like the reversion clause, which stipulates conditions under which the property might revert to the grantor, the presence of an habendum clause which clarifies the extent of interests being granted, and specific clauses that mandate or forbid certain future actions on the property.

While leases and mortgages share some legal formalities with deeds, such as identification of parties and consideration, deeds uniquely transfer full ownership, often come with guarantees like title warranties, and may include unique clauses that directly affect the future use of the property or its reversion to the grantor.

For more detailed definitions and explanations on terms mentioned, visit our glossary about Bangkok real estate.