Word on the street is that the Government's Perpetual Lease is coming to Prachuap Kiri Khan.
Good news all round if/when it happens.
Burger
Perpetual Lease
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HansMartin
- Professional
- Posts: 270
- Joined: Tue Dec 27, 2005 7:50 am
- Location: Back Home in CA
Hi JohhnyK,
As JW said, they are coming to town Saturday where all will be explained and questions answered.
I wouldn't use the word 'scam' but what I do think is off is people who are currently holding 30 year leases with the 'option to extend' for a further 30 years, who think they actually have the option to extend for 30 years.
Legally they do not have the option, they only have it should the land owner show good will and allows them to have it.
Burger
As JW said, they are coming to town Saturday where all will be explained and questions answered.
I wouldn't use the word 'scam' but what I do think is off is people who are currently holding 30 year leases with the 'option to extend' for a further 30 years, who think they actually have the option to extend for 30 years.
Legally they do not have the option, they only have it should the land owner show good will and allows them to have it.
Burger
I have just read this,http://www.samuiforsale.com/Article_50.htm ,is this related to what we are talking about here, or is it something different?
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malcolminthemiddle
- Guru
- Posts: 592
- Joined: Sat Mar 05, 2005 1:56 pm
- Location: Here,there and everywhere
Johhny & Co.,
To be honest I did not understand what they are proposing.
The main man spoke in Thai and had a translator and the solicitor spoke decent enough English but confused me.
They do seem to be government backed, 30% owned by TAT, the Minister for Tourism said they had received 'cabinet approval' etc. But at the end of the day they are a private company.
The impressoin I get is that you will be more likely to get the option to extend for 30 years with them but that it will cost a lot more for the privelege.
We all need to get the full facts from a solicitor.
Burger
To be honest I did not understand what they are proposing.
The main man spoke in Thai and had a translator and the solicitor spoke decent enough English but confused me.
They do seem to be government backed, 30% owned by TAT, the Minister for Tourism said they had received 'cabinet approval' etc. But at the end of the day they are a private company.
The impressoin I get is that you will be more likely to get the option to extend for 30 years with them but that it will cost a lot more for the privelege.
We all need to get the full facts from a solicitor.
Burger
I would be wary of getting involved in this, with the political situation being in a state of uncertainty at the moment.
The people behind it are far too close to a certain gentleman who is presently either shopping in Hong Kong or playing golf in Bali and is not exactly welcome in Thailand at the moment.
The people behind it are far too close to a certain gentleman who is presently either shopping in Hong Kong or playing golf in Bali and is not exactly welcome in Thailand at the moment.
I would agree with previous posts and not expect too much from this.
It doesn't appear to offer anything new at first glance and just be a more expensive method of setting up a lease arrangement.
Does anyone else understand how the purchaser/lessee has his interest in the land protected? If the VIP company owns the land on his behalf without him having an interest in VIP it would appear to both breach Thai laws on ownership by nominee/proxy and leave the non-Thai very vunerable to dishonest disposal of the land. It seems to be more a case of "trust us" we promise we won't shaft you!
Does anyone know of any sources for more information on this proposal?
It doesn't appear to offer anything new at first glance and just be a more expensive method of setting up a lease arrangement.
Does anyone else understand how the purchaser/lessee has his interest in the land protected? If the VIP company owns the land on his behalf without him having an interest in VIP it would appear to both breach Thai laws on ownership by nominee/proxy and leave the non-Thai very vunerable to dishonest disposal of the land. It seems to be more a case of "trust us" we promise we won't shaft you!
Does anyone know of any sources for more information on this proposal?
"Stay Flexible & Expect The Unexpected - This Is Thailand!"
As far as I am concerned this is the same old scam that was well-discussed on another Thailand board under the topic of "new way to own property".
The longstay outfit was set up under the ancien regime (well-known for its rigour and financial probity
) .
My take is that a Toxin crony formed said company and got the government to put up a wedge of taxpayer cash to "own" 30% as an investment. Nothing more than a way to get tax monies into private pockets.
Given this outfit's links to certain HongKong shoppers I wouldn't place any faith or money near it.
A lease in Thailand is for 30 years.
Nothing longer is recognized by the Land Office and any contract indicating a longer period is purely a personal contract and not binding on heirs or successors.
The longstay outfit was set up under the ancien regime (well-known for its rigour and financial probity
) .My take is that a Toxin crony formed said company and got the government to put up a wedge of taxpayer cash to "own" 30% as an investment. Nothing more than a way to get tax monies into private pockets.
Given this outfit's links to certain HongKong shoppers I wouldn't place any faith or money near it.
A lease in Thailand is for 30 years.
Nothing longer is recognized by the Land Office and any contract indicating a longer period is purely a personal contract and not binding on heirs or successors.