Literally just joined this forum trying to seek some answers that hopefully people can assist with here.
Me & my Thai partner live in Australia. For a longtime she has been wanting to buy a property in Thailand for her family to live in. Unfortunately the job she has in Australia, though it pays ok, is cash in hand. Ultimately she has no record of income to prove to a bank in Thailand so that she can get a loan on her own merit. She does however have about 950,000 baht (At least) for a deposit. She will spend about 2,600,000 baht for a property. To do this ultimately I need to Marry her in Thailand & sign into the contract for the property. I don't have any interest in the property as its entirely hers. I am just assisting her to buy it as she isn't able to secure the loan through the bank as she can't prove her income.
A: I recently sold my house in Australia. As such I am looking for another house. If I sign a contract for a house with her in Thailand , can a bank in Australia see this "debt" I have taken on in Thailand when I apply for a homeloan in Australia? I don't think they can unless I declare it. But I want to be sure. hence why I am asking. In reality & as mentioned above I won't be paying for anything in relation to this property. My Thai gf will be.
B: If for whatever reason she cannot pay the repayments, what legal obligations do I have? Can the Thai bank (Whichever bank that may be) get the money from me? Are there agreements in place between Australia & Thailand that may make this possible? I would think that if she defaults on the loan in her repayments the bank would just resell the property. As she will have a decent deposit, I would think that if there was any shortfall after the bank sold the property, it would not be very much.. But this leads me to question C:
C: Her deposit she will have initially on the mortgage is a reasonable amount. But as is the way (Especially with Thai families) her family/whoever may convince her to use that capital to buy "other" things (Car, expensive furnishings, etc). This would have the effect of making the debt on the property larger & if "B" happened & she defaulted on the repayments, then the shortfall would be much larger. Is there anyway I can make it so that any capital paid off on the property cannot be withdrawn on until such time as the property is paid off fully & I am relinquished from any contract with a bank that has my name on it?
D: If I Marry her for the sole purpose of buying this property with her & then divorce her shortly after, is the divorce in Thailand recognized in Australia? I've read some sites saying certain countries may not recognize a Thai Divorce. I am not married to her in Australia. I will simply Marry her in Thailand & then divorce shortly after for the sole purpose of buying a property in Thailand for her as mentioned at the start.