Thai law change on buy property

[AZZZEY68 0]

Who cares were interested in this new thread

[handle 0]

Having read this,surely if you are already married this only protects you on  half of the house value.

30 year lease from the wife.House in your name only.

When divorced the house goes 50/50 and you will need to sell.

Who's going to buy ?

The courts may force the sale and you will get a pittance.

You keep the lease but for what use.

The land stays with her solely.

 

 

Any comments ?

 

Bazz

Under former Land Office policy, Thai nationals who married foreigners were prohibited from ownership of land in Thailand. This prohibition was based on principles of community property law and a general presumption that the Thai spouse was holding the land for the benefit of the foreigner. However, under current Land Office policy the Thai spouse can own land in Thailand, provided that the foreign spouse signs a letter declaring the property to be the separate property of the Thai spouse and waiving any interest in the property.

 

She is going to tell you to get your ass off of her property.

 

For those interested in reseaching these issues, A google on "thai property ownership laws" will bring back a weath of good and bad information.

 

As has been talked about here and other forums.

 

http://www.thailawforum.com/news.html

New Regulation Designed to Keep Foreigners out of Thai Real Estate Business

15 May 2006

 

The Ministry of Interior issued a new regulation intended to crackdown on foreigners engaged in the real estate business in Thailand . Foreigners attempting to circumvent Thai law prohibiting aliens from owning land establish “shell companies” composed of Thai nominees who lack real interest in the company. Foreigners use these companies to illegally purchase and sell land to other foreigners. The Ministry of Interior has requested that the Department of Land investigate the background of any Thai nominee in a company with foreign shareholders and foreign directors who are suspected to hold their position in place of a foreigner. The land officer will examine their occupation, their monthly income and their length of employment to ascertain the Thai shareholders role is genuine before a land purchase can take place.

 

and

 

see Option # 2 - Limited Company - recommended.

http://th-property.com/Thai_property_law.asp

 

Kind of goes against what the The Ministry of Interior issued.

Edited July 27, 2006 by handle