# Freehold (กรรมสิทธิ์)

Source: https://www.thailandpropertyinvestor.com/glossary/freehold

**Definition:** Freehold is outright ownership of property with no time limit, registered in the owner's name at the land office. In Thailand a foreigner can own a condominium unit freehold within the building's foreign quota, but cannot own land.

A foreign freehold buyer of a condominium receives a unit title deed (Or Chor 2) in their own name, together with a proportionate share of the common property. The unit can be sold, let, mortgaged and left to heirs. Two conditions apply under the Condominium Act: foreign ownership in the building must stay within 49% of total unit floor area, and the purchase money must arrive from abroad in foreign currency, evidenced by a [Foreign Exchange Transaction Form](https://www.thailandpropertyinvestor.com/glossary/foreign-exchange-transaction-form) or bank credit advice.

Land is different. The Land Code bars foreigners from owning it, with narrow exceptions such as companies promoted by the Board of Investment and a rarely used route that allows up to one rai of residential land in return for a THB 40 million investment. A foreigner can own a building, as distinct from the land under it. Most foreign villa buyers therefore hold a registered lease of up to 30 years.

See [can foreigners buy property in Thailand](https://www.thailandpropertyinvestor.com/guides/can-foreigners-buy-property-in-thailand) and [freehold vs leasehold](https://www.thailandpropertyinvestor.com/guides/freehold-vs-leasehold).