Phuket Property Glossary: Key Terms for Foreign Buyers

Thai property has its own vocabulary, and misreading a term can cost real money. These are the terms you will meet when buying in Phuket, in plain English.

Ownership & title

• Freehold — outright ownership of a property. For foreigners, generally available for condominium units within the foreign quota.
• Leasehold — the right to use a property for a fixed term (commonly registered for up to 30 years), rather than owning it outright. Common for villas/land used by foreigners.
• Chanote (Nor Sor 4 Jor) — the strongest Thai land title deed, with an accurate surveyed boundary. The title type you most want to see.
• Nor Sor 3 Gor — a lesser title with a less precise boundary; usually upgradeable to Chanote but needs extra checks.
• Foreign quota — under the Condominium Act, foreigners may collectively own up to 49% of a building's saleable area as freehold; the rest is for Thai owners.
• Usufruct / Superficies — legal rights (registered) that let a person use land or own structures on land they do not own; sometimes used in villa structures.

Money & registration

• FET (Foreign Exchange Transaction record) — the bank's evidence that purchase funds came into Thailand from abroad in foreign currency; needed to register foreign condo ownership.
• Land Office — the government office where ownership is registered and transfer taxes/fees are paid.
• Transfer fee / taxes — government charges payable at registration; the split between buyer and seller is negotiated in the contract.
• Escrow — a neutral third party holding funds until conditions are met; not universal in Thailand, so confirm whether it applies.

Buying & building

• Off-plan — buying before or during construction, paying by milestones.
• Resale — buying a completed, previously owned property.
• SPA (Sale & Purchase Agreement) — the binding contract setting price, schedule and terms.
• EIA (Environmental Impact Assessment) — approval required for many larger projects before construction.
• Sinking fund — a one-off contribution to the building's long-term major-repairs reserve.
• Common area fee — the recurring charge for shared facilities and management.
• Juristic person — the legal entity that manages a condominium or estate's common areas.
• BOI (Board of Investment) — the Thai agency whose promotions can affect certain investment and ownership structures.
• Due diligence — the verification of title, seller, project and contract before payment.

How to use these

When you read a listing or contract, map each claim to a term above and ask for the document that proves it. For the process these terms appear in, see buying property in Phuket step by step; for the ownership routes, how foreigners can buy property in Phuket; and browse our full district and developer guides.

Notes / fact-check flags

Definitions here are general and simplified for orientation; legal meanings, percentages and procedures change over time and have exceptions. Confirm any term that affects your decision with an independent qualified Thai lawyer before relying on it.