Chiang Mai Real Estate From the Inheritance Perspective — What to Do and What to Watch Out for When Receiving Family Property

Chiang Mai Real Estate From the Inheritance Perspective — What to Do and What to Watch Out for When Receiving Family Property

Inheriting real estate involves clear legal processes and costs that need preparation. The right understanding makes the process much smoother.

Types of Inheritance

With a will: The property owner left a will specifying who receives what — more straightforward and clear

Without a will (intestate): Property is divided according to statutory heir law (Thai heir hierarchy)

Thai Statutory Heir Order (summary): 1. Children, parents, spouse (in proportions set by law); 2. Siblings by the same parents; 3. Siblings by one parent; and further orders

Inheritance Process for Real Estate

Step 1 (Without a will): Apply to court to appoint an estate administrator — takes several months

Step 2: Gather necessary documents — death certificate, heir identification documents, title deed, will (if any)

Step 3: Process at the Land Department — transfer title from the deceased's name to the heir's name

Inheritance Costs

Transfer fee: 0.5% of appraised value; Stamp duty: 0.5% of appraised value (in some cases); Lawyer fees: THB 10,000-50,000 depending on complexity; Court costs: if estate administrator appointment is required

What to Watch Out for

Inheritance Tax: Thailand has an Inheritance Tax Act — tax of 5-10% applies on inheritance value exceeding THB 100 million. Most cases don't reach this threshold.

Property with attached debts: Always verify whether the property has a mortgage or debts that must be serviced — inheriting property means inheriting both the asset and its attached liabilities.

Multiple heirs: If there are multiple heirs, all must consent to any transfer, sale, or significant use of the property.

Options for Inherited Property

Continue living there (if desirable and location suits); rent out (generate Passive Income from the inherited property); sell (if cash is preferred or property doesn't match needs); sell and split proceeds (if multiple heirs agree).

MORE Value. MORE Trust. Always.
Contact us today for a free consultation:
Line: @morecm | www.morepropertycm.co.th
Aurakanya: +66 83-236-9428
Eknarin: +66 96-236-9745