Condo Act Section 33 — Condominium juristic person

Condominium Act

พระราชบัญญัติอาคารชุด · B.E. 2522 (1979)

The Condominium Act B.E. 2522 (1979) governs the registration of condominiums, ownership of units and common property, the condominium juristic person and its management, and the foreign ownership of units. The 49% foreign-ownership ceiling is in Section 19 bis: foreigners and the juristic persons listed in Section 19, taken together, may not hold more than 49% of the total area of all units in a condominium, measured as at the application to register it under Section 6. Section 19 lists who may hold a unit as a foreigner, Section 19 ter sets the evidence a foreign buyer must show, and Sections 19 quinquies and 19 septies set duties to sell. Act (No. 3) B.E. 2542, Section 9, lets holders who acquired under the former second paragraph of Section 19 bis, and Section 19 persons who take transfer from them in succession, keep those units even above the ratio; the ceiling does not force them to sell.