Thailand real estate terms K
Letter K covers Khor Tor Nor (K.T.N.) and key money. Off-plan condominium buyers in Bangkok and resort cities receive K.T.N. certificates before final Chanote title. Key money appears in commercial tenancy, not freehold purchase, but agents sometimes confuse the two.
For broader context see our property hub and the full real estate glossary.
Condominium ownership certificate before full Chanote split on new projects.
K.T.N. converts to individual Chanote when building registers with Land Office.
Informal payment for shop or rental rights, not part of property purchase price.
Verify which certificate stage applies before paying construction milestones.
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Terms starting with K
Khor Tor Nor (K.T.N.)
Khor Tor Nor is the condominium ownership certificate issued for units in projects under construction. It allocates a specific unit within the registered condominium plan before the Land Office issues individual Chanote deeds for each unit. New Bangkok and Phuket projects commonly sell at this stage.
At building completion the developer registers the juristic person and K.T.N. converts to full Chanote title. Your SPA should specify conversion milestones and default remedies if completion delays. Verify project status at the Department of Lands during due diligence.
Key money
Key money is an informal upfront payment in Thai commercial tenancy, especially shop houses and market stalls. It buys transfer of leasehold or occupancy rights from an outgoing tenant, not ownership of the underlying property. It does not register at Land Office and does not appear in freehold sale and purchase agreements.
Foreigners exploring business tenancy in Thailand encounter key money separately from property law. If any agent bundles key money into a condo or villa purchase quote, demand clarification of the legal instrument you are signing. See our title deeds guide for title types.
Condominium title stages
Off-plan buyers should understand which title stage applies at each payment milestone. The table below maps common certificate types.
| Certificate | Status |
|---|---|
| Khor Tor Nor (K.T.N.) | Issued during construction before individual unit Chanote split |
| Condominium Chanote | Individual unit title deed after building completion and juristic person registration |
| Nor Sor 3 / weaker titles | Not applicable to registered condos; relevant for land due diligence only |
K.T.N. due diligence checklist
Before paying off-plan deposits on a K.T.N. stage unit, complete these verification steps with independent counsel.
- Confirm developer holds master land title and EIA approval for project
- Verify K.T.N. number matches your unit in sale and purchase agreement
- Understand milestone when K.T.N. converts to Chanote at completion
- Request Land Office search on master title and any encumbrances
- Never conflate key money shop tenancy payments with condo purchase price
Legal context for foreign buyers
K.T.N. operates under Condominium Act registration procedures at Land Office. Foreign quota and FET-form rules apply equally at off-plan and resale stages. Key money is governed by hire of property and commercial custom, not land registration law. Confusing the two creates disputes when buyers expect freehold but signed tenancy documents.
Read our letter O glossary page for off-plan milestone and developer solvency checks.
Common mistakes foreigners make
- Treating K.T.N. as equivalent to final Chanote without confirming conversion timeline in SPA.
- Paying key money to shop tenant and assuming it transfers property ownership rights.
- Buying off-plan without verifying which title stage the developer currently holds.
- Skipping title search because marketing materials show rendered building photos only.
- Assuming foreign quota applies before juristic person registration at completion.
Frequently asked questions
General answers for expats reading letter K terms in off-plan contracts and tenancy discussions. This is orientation, not legal advice for your specific transaction.
Q:What is Khor Tor Nor (K.T.N.)?
Khor Tor Nor is a condominium ownership certificate issued during construction before the Land Office splits individual unit Chanote title deeds. It evidences your allocated unit in the registered condominium project. It converts to full Chanote at completion registration.
Q:Can foreigners own property on K.T.N.?
Foreign buyers can purchase off-plan units evidenced by K.T.N. subject to Condominium Act requirements including foreign quota and FET-form remittance. Final freehold registers on Chanote after building completion and juristic person establishment.
Q:When does K.T.N. become Chanote?
After construction completes, the developer registers the condominium juristic person and Land Office issues individual unit title deeds. Your lawyer confirms this milestone in the SPA and attends final transfer.
Q:What is key money in Thailand?
Key money is an informal upfront payment for tenancy or shop transfer rights in commercial leasing. It is not part of registered property purchase price and does not create ownership. Do not conflate with condo or land acquisition costs.
Q:Should key money appear in my SPA?
No. Key money relates to leasehold shop or rental agreements, not freehold condominium sale and purchase agreements. If an agent mentions key money on a condo deal, clarify what legal right you are actually buying.
Q:How do I verify K.T.N. authenticity?
Your property lawyer requests Land Office records matching K.T.N. number to project registration and unit allocation. Cross-check against SPA unit number, floor plan, and foreign quota letter from juristic person at completion.
Q:Does K.T.N. affect FET-form requirements?
Foreign buyers still remit purchase funds from abroad in foreign currency with FET documentation for off-plan K.T.N. stage purchases. Bank purpose line must reference property purchase for Land Department compliance.
Q:Where can I read more Thailand property terms?
Browse our full A to Z glossary index and property hub for related guides on title deeds, off-plan purchases, and due diligence. Start at glossary hub and property hub.