ads

Thursday, March 6, 2014

HOW TO CHECK CONDOMINIUM UNIT BEFORE PURCHASING

In case the condominium is not yet completed:
1.         Every condominium projects require the construction license granted from the local           authorities under the Building Control Act B.E. 2522.
2.         The land where the condominium is situated must be evidenced only by “Chanode”          land deed. Check if the land is owned by the project owner. Also check if there is no any encumbrance other than mortgage on the land because the land with any encumbrance other than mortgage cannot be registered for condominium construction. If you do not trust the evidences provided by the project, the evidences can be rechecked at the local land office.
3.         Check the layout plan around the building if there is an access or not and if such access is public or private. In case of private access, check who owns such access and if such access is registered the servitude allowing the land where the condominium is situated to use such access.
4.         Keep all brochures and advertisement of the project safe. It may be used as an evidence for the future dispute or lawsuit.
 5.         Check the name, address and legal status of the project owner. Also check if it is normal person or juristic person and if it has the right over the land where the condominium is situated or not. In case of juristic person, check if it is legal established or not and check its registered capital, its paid capital and a name list of its managing director. All above information can be checked at Department of Business Development.
6.         In case the condominium project has more than 80 units or has the utility space more than 4,000 square meters, the Environmental Impact Assessment (EIA) report approved the committee under the proclamation from Ministry of Natural Resources and Environment is needed.
7.         Check and keep record when the construction of the condominium will start and when the condominium will be completed.


In case the condominium has already been completed:
 1.         Check if the building is registered as the condominium and who apply for such register. The evidences can be rechecked at the local land office.
2.         Check and record the land deed’s number, layout plan of the building and the access of the building.
3.         Check if the list of private properties and common properties match with the project’s brochures and advertisement.
4.         Check all expenses aside of the condominium unit cost such as public services and utilities fee, common fee, maintenance fee and the fund under Section 40 of Condominium Act which should be paid in advance by the purchaser.
5.         Check if the regulations of the condominium’s juristic person are acceptable and legal.
6.         Keep all brochures and advertisement of the project safe. It may be used as an evidence for the future dispute or lawsuit especially in case of over-advertising or false advertising.
7.         Check the name, address and legal status of the project owner. Also check if it is normal person or juristic person and if it has the right over the land where the condominium is situated or not. In case of juristic person, check if it is legal established or not and check its registered capital, its paid capital and a name list of its managing director. All above information can be checked at Department of Business Development.

In case the condominium is not yet completed:
1.         Every condominium projects require the construction license granted from the local           authorities under the Building Control Act B.E. 2522.
2.         The land where the condominium is situated must be evidenced only by “Chanode”          land deed. Check if the land is owned by the project owner. Also check if there is no any encumbrance other than mortgage on the land because the land with any encumbrance other than mortgage cannot be registered for condominium construction. If you do not trust the evidences provided by the project, the evidences can be rechecked at the local land office.
3.         Check the layout plan around the building if there is an access or not and if such access is public or private. In case of private access, check who owns such access and if such access is registered the servitude allowing the land where the condominium is situated to use such access.
 4.         Keep all brochures and advertisement of the project safe. It may be used as an evidence for the future dispute or lawsuit.
 5.         Check the name, address and legal status of the project owner. Also check if it is normal person or juristic person and if it has the right over the land where the condominium is situated or not. In case of juristic person, check if it is legal established or not and check its registered capital, its paid capital and a name list of its managing director. All above information can be checked at Department of Business Development.
 6.         In case the condominium project has more than 80 units or has the utility space more than 4,000 square meters, the Environmental Impact Assessment (EIA) report approved the committee under the proclamation from Ministry of Natural Resources and Environment is needed.
7.         Check and keep record when the construction of the condominium will start and when the condominium will be completed.

  In case the condominium has already been completed:
1.         Check if the building is registered as the condominium and who apply for such register. The evidences can be rechecked at the local land office.
2.         Check and record the land deed’s number, layout plan of the building and the access of the building. 3.         Check if the list of private properties and common properties match with the project’s brochures and advertisement.
4.         Check all expenses aside of the condominium unit cost such as public services and utilities fee, common fee, maintenance fee and the fund under Section 40 of Condominium Act which should be paid in advance by the purchaser.
5.         Check if the regulations of the condominium’s juristic person are acceptable and legal.
6.         Keep all brochures and advertisement of the project safe. It may be used as an evidence for the future dispute or lawsuit especially in case of over-advertising or false advertising.
7.         Check the name, address and legal status of the project owner. Also check if it is normal person or juristic person and if it has the right over the land where the condominium is situated or not. In case of juristic person, check if it is legal established or not and check its registered capital, its paid capital and a name list of its managing director. All above information can be checked at Department of Business Development.

 
Credit By Mr. Kraivit : Huahin law office.