WELCOME TO THE WOODLANDS DEVELOPMENT
OUR FOURTH EXCITING PROJECT BY RED MOUNTAIN HAVING SOLD OUT ON OUR PREVIOUS THREE SUCCESSFUL PROJECTS
This guide has been prepared to give you a brief summary and explanation for your secure purchase of a house and lease and/or purchase of land at Woodlands.
Purchasers will enter into the following agreements:
- House Construction Agreement
- Land Lease Agreement OR Land Sale and Purchase Agreement
- Land Lease Renewal Agreement if land is to be leased
- Maintenance and Service Agreement
The main features of purchasing at The Woodlands are:
- The house will be transferred to a purchaser via a transfer at the Land Office therefore ensuring 100% ownership of the structure which is then transferrable at the Land to a new purchaser on any future sale.
- Each plot of land will have its own individual Certificate of Land Title therefore enabling either a land lease to be registered against the plot of land or alternatively having title of the land transferred to the purchaser via the Land Office.
- If leasing, a purchaser will lease their individual plot of land on a secure and legal 30 year lease. This is the current maximum term permitted by Thai law. The Land Lease will be prepared in English and Thai and is therefore capable of being properly registered at the Land Office.
- The Land Lease contains an inheritance clause. This means that a purchaser can leave the remaining terms of the Land Lease to their heirs/successors in title.
- Throughout the terms of the Land Lease, upon a subsequent sale the Land Lease can be assigned to a third party or alternatively the existing Land Lease can be terminated and a new 30 year Land Lease granted to the third party.
- A purchaser will be granted an irrevocable option to renew the Land Lease for a further two periods, each of 30 years. If we refuse to grant these renewals then we will pay you some money back for the land and we will buy the house from you at the market price then prevailing.
- Throughout the terms of the registered land lease, the land can be transferred to any third party of your choosing.