Thailand-Property

Property auction law passed

Thailand’s National Legislative Assembly has passed an amendment to the civil code relating to the auction of real estate property.

The law was drafted so that prospective landowners will no longer be responsible for the outstanding bills of the previous owner. The law will also help to protect the rights of buyers and make real estate more appealing to the general market.

The committee tasked with scrutinising the bill proposed that related agencies to inform the public of the implications of the new law.