A Guide to Asset Tracing and Property Deeds in Thailand
September 17, 2024 - Reading time: 8 minutes
Updated October 8, 2024
Asset tracing is an essential process for identifying and recovering hidden assets, particularly in complex legal scenarios such as divorce cases or situations involving suspected money laundering. In Thailand, asset tracing can be a crucial tool for locating hidden wealth, which may include real estate, vehicles, bank accounts, or other valuable assets.
Why Asset Tracing is Important
In divorce cases, spouses may attempt to conceal assets to avoid sharing them. Similarly, individuals involved in illegal activities, such as money laundering, might hide their assets to evade detection by authorities. Asset tracing can uncover these hidden assets, ensuring that rightful claims are upheld and illegal activities are brought to light.
Types of Assets
Various types of assets in Thailand can be subject to investigation, including:
1. Real Estate and Land Ownership: Properties, including land and buildings, are often valuable assets that individuals may attempt to conceal.
2. Vehicle Ownership: Cars, motorcycles, and other vehicles can also represent significant hidden wealth.
3. Bank Accounts: Thai and international bank accounts may be used to store hidden funds.
4. Other Assets: These could include investments, businesses, or high-value personal property.
Searching Land and Property Deeds in Thailand
Land and property deeds in Thailand are stored in paper format and managed at a sub-provincial level. To search for property ownership across the country, one would theoretically need to visit every provincial land office, manually searching through their records. Given that Thailand has thousands of land offices, this method is impractical.
While traces may reveal addresses which are linked to an individual, it is not possible to type a name into a computer in order to find all land/property which is owned by that person. Other investigative techniques are therefore needed.
There is however an online resource which can assist in the process of acquiring property deeds in Thailand. The Department of Lands (DOL) website (https://landsmaps.dol.go.th/) allows users to find title deed numbers based on the coordinates of a piece of land. Once you have the deed number, you can visit the relevant local land office with the that number, a copy of the owner's ID card, and any other pertinent details to request a copy of the deeds.
Although the website provides information about parcels of land in Thailand, it does not reveal ownership details.
Thailand Real Estate Ownership for Non-Thai Citizens
It is important to note that non-Thai citizens are generally not allowed to own land in Thailand directly. However, many set up a Thai holding company to acquire property indirectly. This can complicate asset tracing efforts, as the real owner may be hidden behind corporate structures.
If the subject sets up a holding company in order to retain assets within Thailand, then they may well seek to retain directorship in the firm, which will afford them a level of control. We can help to search for these instances through reverse directorship searches, and compile reports on any companies that were discovered.
Foreign nationals can own condominium units in Thailand, but the building must be at least 51% owned by Thai citizens. This regulation ensures that foreigners cannot own the land on which the condominium is situated. Holding companies are also used for the purpose of retaining ownership.
Types of Land Titles in Thailand
Thailand has several types of land titles, each with different levels of ownership rights and restrictions:
Nor Sor Si Jor (Chanote Title or Title Deed Certificate): This is the most secure land title, accurately surveyed and demarcated by Land Office markers. It allows for the sale or transfer of the land; unless the previous owner has imposed restrictions that prevent the new owner from selling or transferring the land, which typically exist for a period of five or ten years from the date of acquisition.
Nor Sor Sam (NS 3): These land title deeds are issued by the District Land Office and include clear records of ownership. They can be sold or leased with a 30-day public notice. However, they are less precisely surveyed compared to Chanote titles.
Nor Sor Sam Kor (NS 3 K): Similar to the NS 3, the NS 3 K is surveyed in areas without specific parcel points, using aerial surveys instead. This document is issued by the corresponding land office. There are no restrictions on the use of the land, and there is no requirement to publicise legal acts. The land can be subdivided into smaller plots.
Nor Sor Song (NS 2): The NS 2 is a consent letter issued by the Land Department granting temporary occupancy and use of the land. The holder must commence use within six months and complete the utilisation within three years from receipt of the NS 2. This land cannot be sold or transferred except through inheritance. Depending on the location, it may be upgraded to NS 3, NS 3 K, or NS 4 J (Chanote); however, the prohibition on sale or transfer remains in effect until upgraded.
Sor Kor Nung (SK 1): The SK 1 is a land possession notification form with limited rights. It allows the holder to occupy and use the land, typically for agricultural purposes. The person who occupies the land may have stronger rights than the holder of the notification form. The land may be transferred through inheritance, but no formal rights (such as sale, lease, usufruct, or mortgage) can be registered over it. Depending on the location, this document may be upgraded to an NS 3, NS 3 K, or NS 4 J (Chanote).
Conducting Asset Tracing in Thailand
Given the complexities involved in tracing assets, particularly real estate, in Thailand, professional assistance is often necessary. As leading private investigators in Bangkok, we specialise in conducting thorough and discreet asset investigations. Our team has extensive experience in navigating the intricacies of Thai law and property records to locate hidden assets.
How We Can Help
At our firm, we offer comprehensive asset tracing services that include searching for real estate, vehicles, and other valuable assets. Whether you are involved in a legal dispute or suspect someone of concealing assets, we can provide the expertise you need to uncover the truth. We offer free quotes for all our work, ensuring that you receive transparent and reliable service.
If you require assistance with asset tracing in Thailand, contact us today to discuss your needs and how we can help protect your interests. Please provide us with as many details as possible so that we are able to understand your needs and requirements.
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