habuspasha

10 minutes ago, Pink Mist said:

You are correct. Most of those leasehold that will be renewed are gated developments where the developer, land owners are also the property managers. I am talking about many houses and not your typical 1 house built on land owned by a relatives friend.

This sounds like the kind of place I am looking at.  What makes it likely to be renewed?  That it is gated? expensive? numerous villas? Are the lease holders really the lessors?  It seems hard to believe that people who spend tens of millions for some of these are stupid or unaware of how things actually work.

Some years ago I came very close to buying a villa where the GF would own the land and I would own the building.  (We decided against the particular place after engaging the lawyer.)  Can I assume I can do that today?  If so, does the  leasehold become effectively a freehold for the two of us?  Even if we're not married?

Anyone with experience purchasing a leasehold, especially in Phuket?  Have heard many warn against, but also many saying it can be done.  Seems especially difficult to extend beyond 30 years, but some say that can be done too.  Any guidance would be appreciated.

On 4/7/2023 at 12:07 AM, Delight said:

You just state 'Villa Purchase'

This could mean that you need to set up a company to facilitate the purchase.

Alternative -the villa is already in a company -in which you wish to change the name of the MD

 

Either way you do not need a lawyer.

You need an accountant

The MD?  I need a lawyer's due diligence and arrangement of secure leaseholding and proper finance accounting.  Someone with local knowledge of Kata/Phuket would also be desirable.  I am looking at villas in Katamanda estates.

No. Still Looking.  Those I've communicated with tend to be more interested in their charges and unable to answer simple questions.

2 hours ago, StreetCowboy said:

That’s commendable.  Most people refuse to give up driving until they don’t know that they need to.

I'm glad I gave up driving at 81 when I retired and didn't need to drive myself the 50 miles to work.  Also gave me time to go to the gym daily and lose about 40 pounds.  GF at 40 keeps up with hula hoop, home weights and gym, dropping about 6-7 kilos down to 46-7.  When it comes to ageing, I recommend the state of denial.

1 hour ago, ThaiLawOnline said:

But we can secure 60 years with different contracts.

Are these "different contracts" the mortgages referred to here? 

Fortunately, however, there are far better legal means than the “Secured” Lease that do provide actual long‐term lease security and without any downside to the developer. This can be achieved by securing the pre‐paid renewal terms with a mortgage over the land plot in question. It is a simple and straightforward legal structure that provides security for the investor and, therefore, a marketing opportunity for the developer.

If so, how does this work?  I was under the impression that farang cannot secure mortgages.

I need a good lawyer to help with the purchase of a villa in Phuket.  Any recommendations would be greatly appreciated.

On 3/22/2023 at 4:53 PM, ThaiLawOnline said:

Usufructs and leases are different. It's like a loan or a gift, different contracts. The 3 times 30 years is NOT in the Commercial and Civil Code of Thailand. The Code writes about 1 renewal (I thin it is section 538 of the Commercial and Civil Code of Thailand - hereafter CCCT) that can be protected by another contract called a declaration of intention. (art. 158 of CCCT by memory, not sure).

 

Be very carefully with lawyers promising you 90 years. Commercial leases can be longer than 30 years but that is a rare exception. The government wants to change the law for years but didn't do it yet.

 

I registered tons of leases and usufruct during more than 15 years managing a law firm. These are safe, good, but some provinces are more complex ; phuket, Hua hin, Samui, Pattaya. Why? The law is the same but these land departments often ask tea money.

What would you say to this excerpt  from PULSE:

Protected Leasehold / Corporate Freehold

What is protected leasehold property ownership in Thailand? Protected leasehold means that the owners at the estate not only have a lease for their condo, villa or other property, but they are also shareholders of the Thai limited company that owns the freehold (chanote) of the property.

Owners can therefore control the renewal and issuing of leases themselves, and do not have to worry about a lease expiring or change of terms.

This means that the leases can be renewed in perpetuity during and beyond 30+30+30 years. Protected leasehold is therefore pretty much the equivalent of Freehold Ownership in Thailand when it comes to ownership security.

Bravo!  Interesting and gutsy.  Looking forward to no.2.  But I will miss reading the weekly.

1 minute ago, habuspasha said:

15 hours ago, Thingamabob said:

Maybe some people like to breathe clean air?

To which Thingamabob says:  "Like New York or London?"  And we are supposed to laugh.

But it's not funny.  As I read this Bangkok is 171, even Phuket is 72, and New York is 28.

Yes I'm living in New York so I can breathe the air.  I hope to be able to live winters in Phuket.

15 hours ago, Thingamabob said:

  On 3/12/2023 at 8:31 PM, Celsius said:

Maybe some people like to breathe clean air?

Can you wire more than $20,000 for the purchase of a condo?

4 hours ago, FriendlyFarang said:

There is no way to assure a lease longer than 30 years, when the 30 years are up you have to negotiate a new lease with your landlord.

I was asking about a leasehold sale. not just a lease.  It seems that one of the ways in which the 2nd and 3rd 30 year periods are protected is when the lessee becomes part of the lessor as well.  Has this now become common practice?

 8 Steps to Success Buying Property in Thailand (2012) warns readers considering the purchase of a leasehold that the offer of 30+30+30 year leases is not the equivalent of a 90 year lease because only the first 30 years is legally protected by registry in the Land Office.  The 2^nd and 3^rd 30 years are not legally guaranteed; they are only contracts between the lessor and the lessee, made if they or their designated successors are known, alive, and willing at the later time.  The author points out that the law was still undeveloped (in 2012) as few leases had run 30 years. 

My questions: Are the legal protections now stronger than they were in 2012?  What are they?  Can renewals now be registered by the Land Office, or are they still only contractual? Can anyone recommend a lawyer to help provide the protection the lessee needs to assure a 2^nd and 3^rd thirty-year lease.

Thank you, Spidermike , for such an extensive comparison between the US and TL.  But if I haven't done this before, I want to offer a couple of caveats.  Not just my NY to your California, or my older generation to yours.  Certainly things were easier growing up in the past.  But California was the model in providing a free university education (that certainly was far better than anything available in Thailand then or since).  And you did not have to grow up in socialist Santa Monica to benefit from government controlled rents.  In NYC I pay 75,000 baht/mo for six rooms with a river view in central Manhattan (though others pay triple that on the "free" market).  I benefited from other "socialist" supports, like a tenured teaching job for fifty years with state supported medical benefits, and now medicare in addition to more universal medicaid for my dying wife.  I pay virtually nothing for medical care that would bankrupt others without these advantages.  It is shameful that the are not available to all.

Eventually I hope to live in Thailand about half the year.  I enjoy the weather during our winter.  But I wouldn't imagine it if it didn't involve the chance to be be with my full-time girl friend full time.

I particularly enjoy Michael Caine and have seen many if not most of his other films, though not this one.  But I have to point out that "Noises Off" was a Michael Frayn play from 1982.  I saw it then or shortly after on Broadway and though I don't remember what it was about (a consequence of farce),

I remember it was the funniest evening in the theater I ever spent.

1 hour ago, terryq said:

If you think that you weigh 60 pounds then I suggest you change your diet as the one you are on is confusing your brain !

 

Sorry.  I was 200.  Now 160.

On 2/7/2023 at 10:52 AM, tomgreen said:

A big thanks to every one for your input and advice . I was hoping that some one could make a comment on the main fact that the majority of those expats in their early 70s seem to be making which was when your reach the ripe old age of say 70 , any future real attempt to alter your life style through a diet or other method is going to be a complete waste of time .

 

Those expats sitting around the table were it seems convinced that when some one reaches that point in their life ( 70 years old or more ) then the most rewarding path to take would not be to start a diet in the hope that doing so may increase their life span by a few months , but to throw the diet sheet in the dustbin and just eat , drink and be merry until their final day arrives.

 

I wonder if there’s any actual long term medical evidence that may prove without a doubt that in fact if you are 70 years or older , going on a diet or life style change will not make much difference when it comes to extending your actual life span. So you should just appreciate your remaining years and enjoy your food and drink to the fullest .

 

 

 

Study A = In this study the 70 year old and over people followed a healthy life style including following a diet plan until their final day arrived .

 

Study B = In this study the 70 year old and over people were not on diets or planned healthy life style changes , they were allowed to eat and drink what ever the wanted until their final day arrived .

 

 

I wonder out of A & B , which study contained the highest number of people who lived the longest .

 

 

 

I was 70, ten years ago.  I did not not eat well or exercise.  I weighed 100 pounds.  Today I weigh 60 pounds, exercise almost daily and have a gorgeous and supportive Thai "wife" who is 40 years my junior.  With the aid of intermittent fasting and life extension meds, I expect we will be together for another 40 years.

I'm looking for a good psychotherapist for my Thai wife, whose English is limited.  She is dealing with anxiety related to perimenopause.

13 hours ago, 2009 said:

You sound like a lamb to the slaughter 

If I am, I can't be slaughtered before I'm in my '80s after a very happy life with some beautiful, loving women, the last of whom at half my age has been with me for ten years.

Your attitude, on the other hand, leads to daily slaughter, self-inflicted.