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Showing posts from September 27, 2009

TITLE INSURANCE IN THAILAND AND OTHER ASIAN DESTINATIONS

Summary

Up until recent times, the concept of private or individual land ownership was practically unheard of. In the ‘Middle Ages’ it was only the kings, Lords and the privileged few that were able to proclaim ownership to lands that had been conquered.
Analysis

Land, unlike personal possessions that can become obsolete, and lose their value, is immobile, and by comparison, indestructible; therefore, anything associated with land and its control became a symbol of power and wealth
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The feudal lords that were appointed by the various monarchies’ to occupy and work these lands were granted the privilege by way of licenses. However, these lands were subject to the king's first rights, as well as taxes on the land and taxes on the produce.
Over time, the feudal lords that wished to maintain ownership of these worked lands, developed methods of obtaining conveyances from the monarchy that eventually allowed the property to be inherited by their beneficiaries, rather than revert it back to …