Inherited Condo Confusion

[mahjongguy]

"Condos in Thailand may be inherited by foreigners through testamentary or intestate succession, however, in order to legally register ownership of the unit with the Land Department a foreign successor of a condo must submit proof that he qualifies for ownership under section 19 of the Condominium Act."

"Section 19/5 of the Condominium Act permits qualified foreigners (section 19 first paragraph above) to register ownership of the condominium unit acquired by inheritance, as long as the registration does not exceed the 49% foreign ownership quota within the condominium."

That's from https://www.samuiforsale.com/real-estat ... tance.html

Of course, the Land Department can provide the most accurate advice.

[Undaunted]

My friend who has been experience in buying/selling condos claims that anyone inheriting a condo must sell within one year, regardless if 49% farang ownership. Exception is when the inheritor/heir is a Thai, in which case, there is no restriction.
As for taxes, the inheritor of a condo does not pay taxes on that unit until such time as he should sell the unit. Taxes are split 50/50 with the person buying the condo .

Hope this helps a bit.

How do you decide which 1/2 of yourself pays?

This is one of my favorite threads.

[windwalker]

Of course, the Land Department can provide the most accurate advice.

Quite true. I understand the Land Office is not busy nowadays so should be easy to get some answers.