Can an apartment be inherited?
Yes. The owner of an apartment in a condominium (freehold) has the full right to pass it on as an inheritance. This is one of the key advantages of full ownership.
How to arrange it
Option 1: Specify heirs in the Chanote
Information about the heirs can be directly included in the property document. A simple and reliable method.
Option 2: Draft a will
A will is drafted at a law firm in Thailand. It is recommended to have two wills: one for Thai assets (under Thai law), and the second for assets in your home country.
Order of inheritance
According to Thai law, if there is no will, inheritance occurs in the following order: spouse, children, parents, then the nearest male relative of older age.
Can it be registered in the names of several people?
Yes. Real estate can be registered in the names of two or more people (joint ownership). This is convenient for spouses or partners.
Taxes on inheritance
Since 2016, Thailand has had an inheritance tax: 5{4c3c43d1166a1d1dff527390f0aa80c2208b22b51fad691393a45f9289cfc652} for non-resident heirs on inheritance valued over 100 million baht. This is not relevant for most apartment buyers.
Recommendation
Draft a will for Thai assets immediately after purchase. Cost: 5,000-15,000 baht. This will save heirs from lengthy legal procedures.