Thailand real estate
Usufruct (Life rights)
Also known as : Usufruct
Definition
A temporary real right that grants its holder the use and enjoyment of an immovable property without owning it. In Thailand, usufruct may be for a fixed term (maximum 30 years) or for life (life usufruct). Widely used by foreign spouses of Thai wives: the villa is held by the Thai wife in freehold, and the foreign husband receives a life usufruct registered at the Land Office. The contract specifies rental rights (transferable or not) and maintenance obligations. Stamp Duty of 1% is payable upon registration.