Delight

To answer some of your points.

Company to Company. I  suspect that you mean acquiring a property that is already in company.

This is a very low cost transaction. The current  foreign controller of the existing   company can only sell that which he/she owns-the share allocation and 100% of the voting rights. These will be sold for the price of the house/land.

After the money is in  the sellers  bank account ,the he /she has to sign may papers. 

All these events will take place in a lawyers/accountants. The last thing to do is pay the lawyer /accountant.

In my view  an accountant is better and cheaper. cost about 10,000 Baht.

The land office is not involved with this style of transaction.

Transferring ownership from  Thai to another Thai will involve the land office and fairly high fees will be involved.

Remember a foreigner cannot own the land which the house is sitting on-hence the use of the company work around.

Witch ever way you proceed an Chanote -land title deed -will be involved.

Typically this deed can be retained by the bank as security.

The decision to lend by the bank will be a consequence of the bank's view that you can service and pay back the loan-or not.

If the company route is used and you default a court will probably rule that the bank takes the company.

I not not a lawyer . If the bank cannot do this then maybe they will not lend.

Easier for the bank if the property is in a Thai name. However this can be complicated if the land office  realizes that you are paying for everything

You really need to speak to a bank manager.

Recently my wife's  Aunt transferred her land to her niece(i.e. my wife)

Technical. Land size 863m .About 30 kilometers west of Korat. Area is farming and up market housing.

The Aunt got the transfer free from her grandmother who in turn got it free  from her grandmother.

The land originally was simply acquired before the days of land offices etc.

At some point in the past a Chanote was issued.

I agreed to pay the transfer charges.

The family  guessed that the charges would be about 20,000 Baht. 

I thought the charges would be closer to 80,000 Baht. My calculation was derived from info which  appears on the net.

In the event for the transfer plus a Usufruct was just shy of 3000 Baht.

My question: Why were these charges so low?

23 hours ago, FritsSikkink said:

What sort of electric scooter?

The type that you sit on. Not mobility.

Just interested to know the obvious-such as

1) Is  a driving license required ?

2) Tax- insurance  Testing ?

3) Legal position over helmet wearing ?

4) Can you drive on the pavement (sidewalk) ?

Please add other relevant comments

Thanks

5 hours ago, JackGats said:

สิทธิเก็บกิน 

 

This is the title of the relevant Wikipedia article in Thai.

 

Tip: find the Wikipedia article in English, then click languages and choose Thai. It doesn't always work as the Wikipedia articles are not fully liked between languages and some languages are sometimes still missing for a given article, but it's worth a try.

 

The Thai litterally means "the thing you keep to eat".

 

https://th.wikipedia.org/wiki/สิทธิเก็บกิน

Thanks your reply was perfect!

I will try again

There is a legal device called a 'usufruct'

Can anybody detail the actual word in Thai language.

Thai script -if possible-would be preferred.

Thanks.

My wife's Aunt is in trouble.

She took out a loan from a Thai bank -many years ago-to be used for a business venture.

The Aunt's land(chanote) was used as collateral 

This venture failed.

The bank is going to foreclose .

All  family parties are happy that I

(1) Settle with the bank .

(2) Then Transfer the Chanote to my wife's name.

(3) Organise a   Usufruct to protect the Aunt.

I hear that it is problematic to use Farang money for this process.

Can anybody detail the potential problems and further recommend a solution -outlining any further costs that I may have to bear.

9 hours ago, brianthainess said:

Many set up a company, 49% owned by you and 51% by a few shareholders, you are the majority shareholder.

Some while ago I submitted a word document detailing in 'ins' and 'outs 'of  buying via company.

I attach this document

property via company - no third parties.docx

 The simple fact is that a Condo is not a hotel.

The condo needs a hotel license for short term bookings.

Given that a condo is not a hotel -then all short term leases are illegal. 6 months lease is fine

On 2/1/2023 at 11:37 AM, steven100 said:

Note* Change of mind is applicable only if the product packaging has not been opened or damaged, seals and tags are still intact, and the product has not been worn, washed or altered.

Is that stated on their website. If so perhaps you could guide me to it?

I received a pair of shoes -from Lazada.

Opened the package -decided that I did not like them .

i did not wear them -simply photographed them and proceeded to make a return .

The advert said 'Change of mind and 7 day return'

My claim and  protest were rejected.

Why?

Because I had opened the package.

Q . Do the readers of this post remember a time when this limitation did not exist?

Please let me know-I am curious

if they raise the debt ceiling -given the difficult economic times-then they will have to raise it forever.

If they raise it -and the chances are they will-then they need to scrap it.

Borrowing will only stop when the market refuses to lend

It is my belief that the rise in the Baht is a BOT initiative .

Motive . To make oil purchases cheaper.

Keep the Thai population happy.

Political move

 It is the role of the JPM to submit the budget-not the committee.

The procedure which you describe i.e. hold an EGM is the only procedure available.

Clearly this can be held only after discussion with the 'nay sayers'.

Budgets typically through without objections.

 Suspect that the Thai government has instigated this move.

Their motive -keep imports of oil as cheap as possible -i .e .keep the Thai subjects happy.

If so it is a reasonable move.

Obviously Thai exports may suffer.

4 minutes ago, Jerno said:

Don't forget the Thai Central Bank.  They likely are buying Baht selling foreign reserves to increase demand for Baht, thus driving up the "price" of Baht on world financial markets.

Correct. Keep the cost of oil stable.

3 hours ago, scubascuba3 said:

My condo voted an increase in common fees last year, At the second meeting it was either over 50% of those attending or over 35% of total ownership, I can't remember which it was.

 

Up until then it was just supplementary fees in recent years

Would you describe your building as large?

 You are correct. Increasing the Common Fee is just about impossible.

The solution -special assessment(SA).

In the building where I live this option has been adopted twice.

1st for a  sinking fund -the 2nd for general expenditure.

It can only happen at an AGM or an EGM.

A  simple majority vote is required at a legally convened general meeting. That is it.

In my building  these SA's have a life span of 3 years. After which they have to be renewed. Very simple.

Without them the building where I live would be in serious trouble

9 hours ago, tomazbodner said:

In our case, electricity is paid directly to MEA, not to the condo. It shows up in their app, and you can pay for it in the app. As for the water, we don't do prepayment but get the bill every 3 months. It is paid to condo juristic office, but given the warnings I see in the lifts, some don't pay on time. There's a month to pay I think but there's threat of cutting water off if not paid for 6 months. Same for maintenance fees.

 

I can't see how they could do anything about electricity when you don't even pay it to them. It's MEA that would cut power if bills are not paid. No idea for how long, though.

 

If building is a rented apartment, that's a different story though, as there you are paying to apartment, and they pay to MEA/PEA. But even there, I've never seen water or electricity prepayments. Only advance rent and/or deposit for damage of property.

 Who is legally responsible for paying the electricity bill in your condo

The co owner or if appropriate the tenant?

On 12/25/2022 at 2:51 PM, DrHoneydew said:

Ah, to clarify I guess I meant 'seller' financing. ie: You give the seller a small or no down payment and they then finance the balance personally. This may sound crazy to some, but not that unusual in America, so wondering what sort of creative financing options could be done in Thailand. Looking to make investments, not for personal use. Putting your personal money into investments is not ideal for how I wish to go about it.

When the monies are all paid-you will be reliant on the seller helping you with the title deed transfer.

Nothing to stop the seller from refusing .

Suspect a legal contract will not help.

Not in this country!

 The name on the bill will always be the co -owner.

If the tenant does not pay -for any reason.

Then the co -owner has to pay.

Management should advise the co -owner of his/her responsibilities.

Wise -in the regular 'Transfer' way-is not a bank.

Farang female marries a Thai man. They have 4 children -all Thai nationals.

The husband abandons his wife and family. He leaves Thailand.

She is still under 50

Q how can she  legally live and work in Thailand?

 If this is OK with Swedish Embassy-probably not available from British embassy.

Income support letters for retirement visa extension are not available from British embassy.

It used to be!

Certain countries still issue such letters in Thailand.

For certain the British and American (and others) embassies do not.