What is the difference between a Lease and Leasehold?
When you rent an apartment, you sign a Lease. Typically, a lease is for a minimum 12 months in Thailand, although some landlords may consider a shorter or longer term. When you sign a lease, you are required to pay a 2 month deposit which is refundable when you move out, less any charges for damage to the property. There are 2 types of Land Title Deed: Freehold and Leasehold. Leasehold means that the buyer is only leasing the property from the land owner for a pre-determined period of time. Thai law stipulates that a property sold with a Leasehold title deed is only valid for up to 30 years. Renewal for a further 30 years with an option for a further 30 years only is at the discretion of the lease holder (land owner). Property owned by the Crown Property Bureau is always Leasehold. Some private property owners may also sell their property with a leasehold title deed. These are the conditions in operation today (2005), but they may change at any time in the future. Obviously, buying lea
