THAILAND USUFRUCT contract. The right of usufruct is similar to a registered lease, however usufruct is a real right as opposed to contractual rights, giving by registration on the property title deed control and management over an immovable property in Thailand, unless restricted in the contract granting the right of usufruct.
Some describe usufruct as a form of temporary ownership. The right of usufruct can’t exceed the natural life of a person or persons granted the right of usufruct. The right of usufruct cannot be sold or transferred.
Blog Post: Usufruct and Superficies in Thailand
The contract establishing the right of usufruct can be a short form or standard land office usufruct form or a more detailed long form contract, but basically a usufruct contract cannot give more rights than is already given under the Civil and Commercial Code. The established rights by registration of the usufruct are basically the same if a long form usufruct contract or short form usufruct contract or a standard land office usufruct has been registered.
Thailand usufruct drafting service
Visit: www.thailandlawonline.com
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