Terminate a 30 year lease

[magsandbilly]

Hi

Is it possible to cancel/terminate a 30 year lease for the apartment we bought?

Is this covered with the new rental law that came in May 2018?

Would I only need to give 30 days notice?

Would it be as simple as that?

Thanks in advance

[migrant]

I would imagine the lease agreement may have something regarding a cancellation.

We just bought a house where the Falang had a 30 yr lease recorded on the chanote and his ex wife owned the property. Our lawyer drew up a paper stating all concerned agree to cancel the lease and the land office noted it.

[Nereus]

Yes, it will depend on the terms of the lease. The Land Department, where such a lease has to be registered, will not object and when I did it several years ago, they charged me 80 Baht to remove my name from the Chanote!

[PBbeacher]

Do you mean that you bought a condo (freehold) and then gave someone a 30 year lease on it? I can't imagine that scenario ever transpiring, but then can't see what else you might mean?
Like Nereus said, if there is a genuine 30 year lease on a property it must have been registered at the land office where it must be cancelled.

[magsandbilly]

We bought an apartment leasehold (30 year lease) and wonder if it is possible to cancel it. Is there any implications if we cancel it? Monies refunded back for the years left on the lease? Waive all responsibility to expenses incurred after termination of lease?
Thanks

[PBbeacher]

99.999% sure you wouldn't get any money back, best to have a solicitor review the lease agreement and discuss options. The most likely outcome I see on cancellation is that the landlord would keep your money and have the apartment to 'sell' again. Easier said than done, but maybe you could find someone to sell/transfer the remainder of the lease to.

[magsandbilly]

Thanks for the thoughts and info. Will think on this now

[dundrillin]

When you sell a villa the new buyer (owner) can get a new 30 year lease,if the owner of the title agrees and a fee is paid. I assume it is the same for condo owners. You could ask he agent who sold you the condo.

[Nereus]

We bought an apartment leasehold (30 year lease) and wonder if it is possible to cancel it. Is there any implications if we cancel it? Monies refunded back for the years left on the lease? Waive all responsibility to expenses incurred after termination of lease?
Thanks

Sorry, you are completely confusing the issue with your repeated use of "apartment". Is it a Condominium, a Townhouse, a detached house, or what. They all have different laws, and some of what are claimed to be "laws, are just Thai owners interpretation, usually for their own benefit!

A "lease" of a Condominium is just another word for a rental contract, you have no rights. Not common to "lease" a Condominium, but it is possible. Sometimes a shifty developer will offer a lease, or if the total Farang ownership is already 49%, it would necessary.

An "apartment" could be a townhouse, which being on its own land, cannot be owned by a Farang, but can be leased from a Thai owner.

A legal "lease" for a building on Thai owned land has to be registered with the Land Dept., at a cost of around 1.0% of the TOTAL rent payable over the term(30 year)period of the lease. (if under 3 years it does not have to be registered)
Money paid to the Land Dept. is NOT refundable.

As posted previously, you absolutely need to see a knowledgeable lawyer.