Page 65 - Introduction to Investment Laws in Thailand

In addition, the important legislation relating to the management of
land is the Agricultural Land Reform Act B.E. 2518(1975). The Act
established a committee and the Agricultural Land Reform Office
(ALRO) that have a duty to make a land reform from the public domain or
expropriate land from landowners and reform it into agricultural areas.
The Act was passed to help farmers not owning or leasing farmland with
unreasonably high rent. The land classified under the Agricultural Land
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Reform Act B.E. 2518(1975) will only be used for agriculture purposes.
3.1.2 Land ownership

A person or private entity will own the land by their registration under
the Land Code. Nevertheless, the Land Code B.E. 2497 (A.D. 1954) permits
Thai nationals to purchase and possess a specific exemption for foreigners
to own land in Thailand. Before displaying how the foreigners would be
able to own land in Thailand, it is important to show that all land
purchases and owning must be under the registration process with the
Ministry of Land and Ministry of Interior. The Thailand Civil and
Commercial Code section 456 states that

"A sale of immovable property is void unless it is made
in writing and registered by the competent official. The same rule
applies to ships or vessels of six tons and over, to steam launches
or motor boats of five tons and over, to floating houses and to
beasts of burden.

An agreement to sell or to buy any of the aforesaid
property, or a promise of sale of such property is not enforceable
by action unless there is some written evidence signed by the
party liable or unless earnest is given, or there is part
performance.

74 Thomson Reuter, 2020, Agricultural law in Thailand: overview Land tenure
and usage rights, < https://uk.practicallaw.thomsonreuters.com/3-602-
5267?transitionType=Default&contextData=(sc.Default)&firstPage=true>

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