This obviously is the alternative route to land purchasing but only really applies to those married to Thai nationals. It seems that they are also clamping down on this. I am in the process of purchasing an apartment which will be in my wifes name and later my sons.
We were told yesterday that the finances used to purchase the land cannot come from a foreigner and must originate from a Thai. The simple way around this rediculous ruling is to bounce the funds through a couple of Thai bank accounts before it reaches the sellers. It has something to do with the legal right of the spouse over the property if he/she has provided funds for it ... something that doesnt apply to foreigners as we have no legal rights.
Am I the first to come across this latest pathetic anti-farang motion? Is this a law or were the agents for the development just being pedantic?
It doesnt matter to me as I won't own the thing anyway and am not too fussed however the worrying notion is that the clampdown on foreign involvement in property seems to be extending a lot further than simple investigation of Thai shareholders if this is a genuine case. It maybe just the developers trying to make life difficult.
Anyone any thoughts or experiences with this?
Foreign funded land in a Thai name
Foreign funded land in a Thai name
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Buks,
If I'm reading your situation right:
When a Thai wife of a foreigner buys land, at the land office she (and I think the foreign husband) has to sign off on a form that says all the funds were hers and not belonging to the farang husband. It is, as you say, done so that the land does not form part of the marital possessions and the foreigner therefore has no claim.
The foreigner can simply have gifted or dowry'd the funds to his wife, you do not need to transfer it to her via several bank accounts etc.
This is normal practice and is not new.
The farang can own part/all of the property though and can lease it back from the wife to give the farang some security (well at least 30 years worth!!)
Burger
If I'm reading your situation right:
When a Thai wife of a foreigner buys land, at the land office she (and I think the foreign husband) has to sign off on a form that says all the funds were hers and not belonging to the farang husband. It is, as you say, done so that the land does not form part of the marital possessions and the foreigner therefore has no claim.
The foreigner can simply have gifted or dowry'd the funds to his wife, you do not need to transfer it to her via several bank accounts etc.
This is normal practice and is not new.
The farang can own part/all of the property though and can lease it back from the wife to give the farang some security (well at least 30 years worth!!)
Burger
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Guess
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Ties up with my understanding. A bit of an anomally really. You have to show cash from abroad to obtain a visa based upon marriage but if the money is used to buy a house is has to go through the Thai Laundry system first.
Double standards here I think.
I believe though in a divorce situation that the farang does have rights. Whether or not these rights are implemented is another story. I do know of a couple of guys in Hua Hin who have walked away from the divorce courts with a percentage.
Double standards here I think.
I believe though in a divorce situation that the farang does have rights. Whether or not these rights are implemented is another story. I do know of a couple of guys in Hua Hin who have walked away from the divorce courts with a percentage.
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Ok, looks to be about the size of it ... "Bring your money, buy what you like, sign it over to a Thai, confirm that you will never have a legal right to it again ... and piss off".Burger wrote:It is, as you say, done so that the land does not form part of the marital possessions and the foreigner therefore has no claim.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
That's exactly it Buksida! When I did it, I was presented with this piece of paper to sign. I asked what it was but they just smiled that smile that means they are hiding something and urged me to sign. So I wouldn't until they told me what it was. After about ten minutes I was told what it was and it was what I had expected, so I signed. What I didn't like was the way the land office had tried to conceal what the meaning of the form was - it was as if they saw it as their job to entrap foreigners into unknowingly buy houses for Thais!
I mentioned before we're buying a small bungalow for the Mom here. My mate and I are not married and no plans to do so, kids or not, for one specific reason, the hassle, part of which is described here. On Thursday we have to go to the land office and hand over the bank draft etc. My mate was specifically told by the developer this evening and I quote loosely, "....when we arrive at the land office, don't even have him sit in the car at the office, have him cruise the streets until we are done...." Seems all of this has gotten more serious, married or not, if there is concern the money came from a foreigner? If asked she has been told to say"...Iv'e been saving for a long time to buy a retirement home for her...." Pete
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Wanderlust
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I don't know if my story either complicates things or clarifies them, but here goes! I bought a house with my then Thai wife, and the form was signed stating that the funds for it were entirely from my wife even though they weren't - the house and land were in her name. When we separated I went to see a lawyer (or so I thought!) so we could draw up an agreement where I would give her some money and she would sign over the house to be held on my behalf by the lawyers until it was sold, whereupon I would get that money. The lawyer turned out to be a con man, and effectively gave the house away to someone he owed money to, but I successfully sued him in a Thai court for this (he hasn't paid up but that is another matter - I have 10 years to get it). This indicates to me that we farang do have some rights when it comes to marital property as far as the legal system is concerned, as the court recognised the signed agreement as a binding document. It just depends whether you are prepared to legally fight for it when necessary.
I did say above that you can own the property, not the land mind, on a 30 year lease. You can then sell the property if you find a buyer.Meaning that the farang has no legal right to this property in the future.
You can have a contract drawn up with your wife where you agree to sell the house and land upon divorce, and share the proceeds.
You can have wills drawn up where the property and land gets left to you the foreigner if your partner dies.
I think you then get a set period to sell the land and/or give to your dependants.
Burger
Burger wrote: You can have wills drawn up where the property and land gets left to you the foreigner if your partner dies.
I think you then get a set period to sell the land and/or give to your dependants.
Burger
Exactly!
In most cases you'll get a time limit of max. 180 days to sale your property, or to make another Thai happy with your generosity.
I had this case, when my first wife died.
But be warned, Thai parents are equal heirs with the surviving relative and common kids.
They can contest wills any time (and mostly successful!), which exclude them from the hereditary result.
Therefore every farang should be very friendly to his parents in law...they also want to become rich, like her lovely daughter
But I think this doesn't matter too much for people, which are eager to invest their money under questionable circumstances in Thailand !?
They won't get anywhere in a court if your name is on your wifes will as the person to inherit the property.But be warned, Thai parents are equal heirs with the surviving relative and common kids.
They can contest wills any time (and mostly successful!), which exclude them from the hereditary result.
Burger
Unfortunately, wrong, Burger!
As I said, I had this case, and you can believe me that I know about what I'm speaking!
After 2 years fighting in the court (although I had a valid will), my parents in law have to give up...but just because they hadn't enough money anymore to pay for their lawyer.
If they'd be able to contest the will of her late daughter furthermore, I wouldn't have any chance to win!
The Thai-court isn’t willing to accept a will normally, which exclude Thai-parents from the hereditary result!!!!
Please, inform yourself about the reality at first, before you post anything, which isn’t true!
Cheers, mate !
Bottom line is foreigners are entitled to nothing, as long as you know and accept that before spending any money in this country you wont get a shock down the road.
I don't like the idea of scrounging families trying to grab something that is rightfully yours but what can you do? TRT right?
Don't think I want to go through all the hassle of getting lawyers making contracts with my own wife either, if they want it take it .... good luck to em, you've already been forced to sign a contract allowing them to do so.
Spend no more than you're willing to lose ... in fact write it off as soon as you spend it is probably the best way to go.
I don't like the idea of scrounging families trying to grab something that is rightfully yours but what can you do? TRT right?
Don't think I want to go through all the hassle of getting lawyers making contracts with my own wife either, if they want it take it .... good luck to em, you've already been forced to sign a contract allowing them to do so.
Spend no more than you're willing to lose ... in fact write it off as soon as you spend it is probably the best way to go.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Very good and true statement, Buksadi!
Of course, it seems, that law-informations are a little bit easier accessible as it was 10 or 12 years ago.
Unfortunately, there are still enough black sheep among lawyers or advisers, which are trying to find new investors with nice words and a "no-problem-mentality".
It's very discouraging in my eyes, that you just can find out the truth in conversations with affected persons mostly, which had the bad luck to sample experiences with the true interpretation of Thai laws already.
As you said, never spend more as you're willing to lose, and you won't get a shock down the road!
But I fear the attraction to make fast cash or to get a cheap, nice-looking house will switch off clear thoughts furthermore.
Of course, it seems, that law-informations are a little bit easier accessible as it was 10 or 12 years ago.
Unfortunately, there are still enough black sheep among lawyers or advisers, which are trying to find new investors with nice words and a "no-problem-mentality".
It's very discouraging in my eyes, that you just can find out the truth in conversations with affected persons mostly, which had the bad luck to sample experiences with the true interpretation of Thai laws already.
As you said, never spend more as you're willing to lose, and you won't get a shock down the road!
But I fear the attraction to make fast cash or to get a cheap, nice-looking house will switch off clear thoughts furthermore.