Inherited Property in Chiang Mai — How to Legally Pass Down Your Real Estate to Family

Inherited Property in Chiang Mai — How to Legally Pass Down Your Real Estate to Family

Planning the transfer of Chiang Mai real estate to the next generation is something many property owners overlook. This article covers everything you need to know clearly and completely.

Thai Inheritance Law and Real Estate

When a property owner passes away, their assets become the estate of their legal heirs or those named in a will, following the hierarchy set out in Thailand's Civil and Commercial Code.

Legal Heir Priority

1st: Children (including legitimized children)
2nd: Parents
3rd: Full siblings
4th: Half siblings
5th: Grandparents
6th: Aunts and uncles

Note: A registered spouse shares inheritance rights alongside priority 1-3 heirs.

Methods of Transferring Property in Chiang Mai

Method 1: Through a Will (most recommended)
Advantage: You choose who receives what and in what proportion
Disadvantage: May require a court process in some cases
Cost: Lawyer fees approximately THB 5,000-20,000

Method 2: Legal heirs without a will
Advantage: No advance preparation needed
Disadvantage: May lead to disputes between heirs and takes longer

Method 3: Transfer before death (gift transfer)
Advantage: Immediate transfer without waiting for inheritance process
Disadvantage: Transfer fees and taxes apply

Thailand Inheritance Tax

Thailand's Inheritance Tax Act B.E. 2558 stipulates:

Who must pay inheritance tax
- Recipients inheriting assets with a combined value exceeding THB 100 million

Inheritance tax rates
- Legal heirs (children, parents): 5%
- Other heirs: 10%
- Calculated on the value exceeding THB 100 million

Summary: Inherited property valued at or below THB 100 million incurs no inheritance tax.

Inheritance Transfer Cost

Inheritance transfer fee: 0.5% of appraised value
Stamp duty: None (for inheritance)

Example: House with appraised value THB 3,000,000
Inheritance transfer fee: THB 15,000
(Significantly lower than a standard sale transfer)

Best Advance Estate Planning Practices

From 20+ years of experience:
- Prepare a will in advance specifying all assets and recipients clearly
- Consult a lawyer specializing in inheritance matters
- Update the will whenever property or family circumstances change
- Consider advance property transfer where tax conditions are favorable

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