Greenlight to leasehold draft
The Cabinet yesterday approved the draft of a leasehold bill intended to allow rentors to use rent, mortgages, right transfer of, or inheritance of no more than 30 years of leasehold assets as a means to increase contract values.
Nattaporn Jatusripitak, spokesman for deputy prime minister for economics, said that rentees who give leasehold of assets must own land with title deed or condominium units, while registering them as leasehold must be made in writing and registered with a period of no more than 30 years, according to the Land Code.
"This bill will give incentives and build up confidence for investors or businessmen to make investment or work in the country, allowing them to exercise their rights in properties more conveniently and flexibly and helping increase values and liquidity in the country's property sector," he said.
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