A usufruct agreement is a legal contract that allows a foreigner to possess and enjoy land in Thailand, even though they are not allowed to own the land outright. The usufruct holder has the right to use, occupy, and enjoy the property, but they do not have the right to sell it.
A usufruct agreement can protect foreigners from a real estate investment in Thailand in several ways. First, it gives the foreigner the right to use and enjoy the property for a specified period of time, which can provide them with a sense of security and stability. Second, the usufruct agreement is a registered document, which means that it is enforceable by law. This means that the foreigner is less likely to be cheated or scammed by the property owner.
How to get a usufruct agreement
To get a usufruct agreement, a foreigner should consult a law firm. ThaiLawOnline can help the foreigner to negotiate the terms of the agreement and to register the agreement with the Thai government.
Is a usufruct agreement the right choice for me?
Whether or not a usufruct agreement is the right choice for you will depend on your individual circumstances. If you are looking for a way to enjoy the benefits of owning land in Thailand, but you are not allowed to own the land outright, then a usufruct agreement may be a good option for you. However, it is important to speak with a Law firm to discuss your specific situation before you enter into a usufruct agreement.
More information : thailawonline.com/usufruct-ag...
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